Federal Reserve Statistical Release, H.6, Money Stock Measures; title with eagle logo links to Statistical Release home page
Release Date: June 24, 2004
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 FEDERAL RESERVE STATISTICAL RELEASE
 
H.6 (508)
Table 1 These data are scheduled for release each Thursday at 4:30 p.m.
June 24, 2004
MONEY STOCK MEASURES
Billions of dollars     
DateM11M22M33
Seasonally adjusted  
2002-June           1188.3            5572.5            8179.0           
     July           1194.3            5614.4            8219.8           
     Aug.           1182.9            5650.1            8283.0           
     Sep.           1190.6            5676.5            8319.4           
     Oct.           1201.9            5721.3            8346.4           
     Nov.           1204.5            5765.9            8477.5           
     Dec.           1217.2            5793.2            8550.4           
                                                                         
2003-Jan.           1220.4            5824.4            8562.7           
     Feb.           1235.1            5866.2            8599.8           
     Mar.           1240.5            5889.7            8631.0           
     Apr.           1246.5            5933.1            8668.7           
     May            1258.0            5984.3            8723.4           
     June           1271.1            6025.0            8772.5           
     July           1273.5            6065.0            8845.7           
     Aug.           1281.5            6105.6            8883.4           
     Sep.           1281.4            6082.9            8872.4           
     Oct.           1283.2            6066.6            8846.2           
     Nov.           1283.2            6062.2            8837.9           
     Dec.           1292.8            6056.8            8831.1           
                                                                         
2004-Jan.           1286.6            6062.6            8879.0           
     Feb.           1306.0            6110.9            8940.3           
     Mar.           1325.1            6156.2            9011.7           
     Apr.           1321.7            6201.5            9084.3           
     May            1319.2            6269.0            9192.5           
Not seasonally adjusted
2002-June           1188.5            5558.4            8167.4           
     July           1195.0            5600.6            8185.7           
     Aug.           1178.4            5645.4            8254.3           
     Sep.           1183.2            5670.9            8272.7           
     Oct.           1194.2            5709.1            8301.6           
     Nov.           1202.7            5782.7            8497.0           
     Dec.           1242.6            5831.7            8614.8           
                                                                         
2003-Jan.           1222.0            5818.8            8580.8           
     Feb.           1221.5            5844.0            8613.1           
     Mar.           1240.5            5904.4            8671.1           
     Apr.           1256.2            5962.1            8690.3           
     May            1254.1            5952.3            8698.8           
     June           1271.7            6008.4            8762.8           
     July           1274.3            6052.3            8816.3           
     Aug.           1279.0            6110.8            8866.3           
     Sep.           1274.1            6082.4            8834.7           
     Oct.           1275.1            6061.1            8812.6           
     Nov.           1280.5            6083.5            8861.6           
     Dec.           1318.5            6097.0            8889.6           
                                                                         
2004-Jan.           1287.9            6053.5            8885.2           
     Feb.           1292.4            6081.2            8939.6           
     Mar.           1323.7            6157.6            9036.1           
     Apr.           1330.7            6226.8            9103.2           
     May            1316.9            6235.6            9167.6           
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
 M1M2M3
 3 Months from Feb. 2004 TO May  2004     4.0        10.3        11.3        
 6 Months from Nov. 2003 TO May  2004     5.6         6.8         8.0        
12 Months from May  2003 TO May  2004     4.9         4.8         5.4        
Thirteen weeks ending                                                                     
June 14 , 2004                                                                            
from thirteen weeks ending:                                                               
Mar. 15, 2004 (13 weeks previous)         7.9         9.3        10.3        
Dec. 15, 2003 (26 weeks previous)         6.1         5.4         6.7        
June 16, 2003 (52 weeks previous)         5.6         4.6         5.0        
  
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 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
 M1M2M3
Period Ending 13-week average 4-week average week average 13-week average 4-week averageweek average 13-week average 4-week average week average
Seasonally adjusted 
 2004-Mar. 22             1301.0        1316.0        1336.6          6097.1        6142.3        6165.2          8922.2        8989.4        9015.3 
           29             1304.7        1323.3        1347.0          6106.5        6153.0        6177.9          8939.4        9010.9        9059.6 
                                                                                                                                                     
      Apr.  5             1306.8        1329.1        1319.5          6116.7        6166.2        6178.3          8955.2        9031.8        9047.1 
           12             1309.8        1328.4        1310.5          6127.5        6178.7        6193.3          8970.6        9046.2        9062.6 
           19             1311.1        1320.8        1306.2          6137.0        6184.5        6188.3          8985.4        9059.4        9068.3 
           26             1314.2        1317.3        1332.9          6147.8        6193.5        6214.1          9001.2        9073.4        9115.6 
                                                                                                                                                     
      May   3             1319.1        1326.6        1356.6          6161.1        6212.6        6254.7          9022.1        9104.8        9172.5 
           10             1319.8        1322.3        1293.4          6174.0        6226.2        6247.8          9043.0        9132.8        9174.7 
           17             1320.4        1325.0        1317.1          6187.7        6251.6        6289.8          9064.6        9170.9        9220.7 
           24             1321.6        1325.3        1333.9          6199.3        6267.4        6277.1          9082.6        9190.7        9194.9 
           31             1322.0        1316.8        1322.9          6209.9        6272.1        6273.8          9100.0        9197.5        9199.5 
                                                                                                                                                     
      June  7p            1322.9        1320.6        1308.3          6220.6        6276.3        6264.6          9118.8        9205.9        9208.5 
           14p            1323.4        1321.3        1319.9          6230.8        6272.6        6275.0          9137.4        9212.6        9247.4 
                                                                                                                                                     
                                                                                                                                                     
Not seasonally adjusted                 
 2004-Mar. 22             1301.4        1307.7        1334.2          6089.7        6142.9        6158.6          8935.7        9011.8        9033.8 
           29             1301.2        1320.4        1369.3          6095.5        6155.5        6155.2          8949.7        9036.3        9057.1 
                                                                                                                                                     
      Apr.  5             1301.3        1332.6        1328.0          6105.1        6178.6        6237.0          8966.0        9060.5        9099.2 
           12             1304.7        1333.2        1301.3          6118.9        6201.8        6256.2          8982.9        9078.9        9125.5 
           19             1308.4        1331.8        1328.5          6133.6        6224.1        6247.9          8999.5        9098.4        9111.6 
           26             1313.0        1327.5        1352.1          6147.3        6230.9        6182.3          9015.5        9101.5        9069.6 
                                                                                                                                                     
      May   3             1317.7        1337.7        1368.8          6161.0        6223.6        6208.0          9034.2        9106.1        9117.6 
           10             1318.9        1331.9        1278.0          6174.2        6219.1        6238.1          9053.3        9116.5        9167.0 
           17             1320.3        1326.4        1306.8          6187.3        6223.3        6264.9          9072.1        9139.4        9203.5 
           24             1322.4        1320.5        1328.2          6197.6        6229.6        6207.2          9087.4        9156.6        9138.1 
           31             1324.1        1313.2        1339.7          6207.0        6234.5        6227.9          9103.3        9168.6        9165.9 
                                                                                                                                                     
      June  7p            1325.1        1316.9        1292.9          6217.7        6245.8        6283.3          9121.1        9185.2        9233.3 
           14p            1325.7        1316.7        1305.8          6227.4        6251.9        6289.1          9137.6        9201.0        9266.6 
                                                                                                                                                     
                                                                                                                                                     
 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 -- indicates preliminary data.
 




H.6 (508)
Table 4
SEASONALLY ADJUSTED COMPONENTS OF M1
Billions of dollars
    Other Checkable Deposits
DateCurrency1Travelers checks2Demand Deposits3At comm. banks4At thrift inst.5Total
 2003-Jan.                        630.9               7.8                 301.9               153.8               126.1               279.9  
      Feb.                        635.4               7.8                 308.3               156.0               127.6               283.6  
      Mar.                        639.0               7.7                 307.7               157.7               128.3               286.0  
                                                                                                                                             
      Apr.                        642.0               7.7                 310.5               156.5               129.9               286.4  
      May                         644.6               7.6                 314.7               159.6               131.5               291.1  
      June                        646.4               7.6                 321.9               163.0               132.2               295.2  
                                                                                                                                             
      July                        648.0               7.6                 319.1               164.3               134.5               298.8  
      Aug.                        650.8               7.6                 320.9               166.3               135.9               302.3  
      Sep.                        654.1               7.6                 313.4               169.0               137.2               306.3  
                                                                                                                                             
      Oct.                        658.3               7.7                 311.3               168.9               137.1               305.9  
      Nov.                        661.3               7.7                 308.4               170.3               135.5               305.8  
      Dec.                        663.9               7.7                 312.1               173.2               135.9               309.2  
                                                                                                                                             
                                                                                                                                             
 2004-Jan.                        664.9               7.8                 301.0               176.4               136.5               312.9  
      Feb.                        665.8               7.8                 313.3               181.3               137.7               319.1  
      Mar.                        666.7               7.8                 326.0               185.4               139.2               324.6  
                                                                                                                                             
      Apr.                        668.6               7.8                 322.2               183.6               139.5               323.1  
      May                         671.7               7.8                 315.8               182.9               140.9               323.8  
                                                                                                                                             
                                                                                                                                             
                                                                                                                                             
Week Ending:                                                                             
 2004-Apr. 19                     668.0               7.8                 310.9               180.9               138.5               319.4  
           26                     669.0               7.8                 331.2               186.7               138.1               324.8  
                                                                                                                                             
      May   3                     670.3               7.8                 347.4               189.0               142.1               331.1  
           10                     671.1               7.8                 293.9               181.2               139.3               320.5  
           17                     671.1               7.8                 313.7               183.1               141.5               324.6  
           24                     671.5               7.8                 329.7               185.0               140.0               325.0  
           31                     674.3               7.7                 317.1               181.4               142.5               323.9  
                                                                                                                                             
      June  7p                    674.3               7.7 e               302.5               181.7               142.1               323.7  
           14p                    674.6               7.7 e               312.6               185.3               139.6               324.9  
                                                                                                                                             
                                                                                                                                             
                                                                                                                                             
 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.
 



H.6 (508)
Table 5
SEASONALLY ADJUSTED COMPONENTS OF NON-M1 M2
Billions of dollars
 Savings Deposits1Small-denomination time deposit2  
DateAt comm.
banks
At thrift
insts.
Total At comm.
banks
At thrift
insts.
Total Retail
money
funds3
Total
Non-M1 M2
 2003-Jan.                  2085.5          728.8         2814.3          586.1          300.7          886.8          902.9         4604.0 
      Feb.                  2110.3          744.0         2854.3          582.5          298.1          880.6          896.2         4631.1 
      Mar.                  2126.9          759.2         2886.1          578.9          296.4          875.3          887.9         4649.2 
                                                                                                                                            
      Apr.                  2162.0          773.0         2935.0          575.0          294.5          869.5          882.2         4686.6 
      May                   2189.9          793.9         2983.8          570.3          291.5          861.7          880.8         4726.3 
      June                  2221.7          799.9         3021.6          566.0           288.3          854.3          878.0         4753.9 
                                                                                                                                             
      July                  2269.6          812.6         3082.2          557.8          285.4          843.2          866.2         4791.6 
      Aug.                  2302.5          826.2         3128.7          550.9          282.1          833.0          862.4         4824.0 
      Sep.                  2291.3          834.2         3125.5          545.7          279.8          825.5          850.6         4801.5 
                                                                                                                                            
      Oct.                  2301.2          840.0         3141.2          542.1          277.4          819.5          822.7         4783.3 
      Nov.                  2321.8          834.4         3156.2          538.4          275.1          813.5          809.4         4779.1 
      Dec.                  2328.0          830.4         3158.4          536.7          273.0          809.6          795.9         4764.0 
                                                                                                                                            
                                                                                                                                            
 2004-Jan.                  2363.3          826.8         3190.0          535.0          272.1          807.1          778.8         4776.0 
      Feb.                  2397.4          837.0         3234.4          533.6          271.5          805.1          765.4         4804.9 
      Mar.                  2424.9          853.6         3278.5          531.5          271.1          802.6          750.0         4831.1 
                                                                                                                                            
      Apr.                  2476.8          861.8         3338.6          528.8          270.0          798.8          742.5         4879.9 
      May                   2529.4          877.0         3406.4          526.4          266.8          793.2          750.3         4949.9 
                                                                                                                                            
                                                                                                                                            
                                                                                                                                            
Week ending:                                                                       
 2004-Apr. 19               2482.1          859.7         3341.8          528.5          270.6          799.0          741.3         4882.2 
           26               2472.7          865.9         3338.6          528.6          268.9          797.5          745.2         4881.2 
                                                                                                                                            
      May   3               2482.9          872.9         3355.8          527.5          268.3          795.8          746.4         4898.0 
           10               2536.4          877.1         3413.5          526.9          268.0          794.9          746.1         4954.5 
           17               2545.0          883.2         3428.2          526.6          266.8          793.4          751.2         4972.7 
           24               2522.4          874.4         3396.7          526.0          266.1          792.0          754.5         4943.2 
           31               2530.3          877.9         3408.3          525.9          265.6          791.5          751.1         4950.9 
                                                                                                                                            
      June  7p              2543.0          874.1         3417.0          525.8          265.8          791.6          747.7         4956.4 
           14p              2539.2          879.4         3418.6          525.6          265.5          791.2          745.4         4955.1 
                                                                                                                                            
                                                                                                                                            
                                                                                                                                            
 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.



H.6 (508)
Table 6
SEASONALLY ADJUSTED COMPONENTS OF NON-M2 M3
Billions of dollars
  Large-denomination time deposits1   
DateInstitutional
money
funds
At commercial
banks2
At thrift
institutions
TotalRPs3Eurodollars4Total
Non-M2 M3
  2003-Jan.        1219.4         691.1         118.5         809.6        472.6        236.6        2738.3      
       Feb.        1205.0         686.9         118.2         805.2        485.4        238.1        2733.6      
       Mar.        1193.3         691.5         117.3         808.9        497.4        241.6        2741.3      
                                                                                                                 
       Apr.        1176.2         690.9         117.6         808.5        501.6        249.3        2735.6      
       May         1153.5         696.2         116.9         813.1        511.3        261.3        2739.1      
       June        1154.6         695.1         118.1         813.2        517.2        262.5        2747.5      
                                                                                                                 
       July        1193.4         699.4         121.1         820.5        497.0        269.8        2780.7      
       Aug.        1174.3         707.4         122.6         830.0        494.4        279.1        2777.8      
       Sep.        1175.3         715.1         122.1         837.3        496.8        280.1        2789.5      
                                                                                                                 
       Oct.        1153.8         713.1         121.7         834.8        504.3        286.8        2779.6      
       Nov.        1131.4         725.7         120.8         846.5        511.3        286.4        2775.7      
       Dec.        1112.9         747.5         119.9         867.4        505.3        288.7        2774.3      
                                                                                                                 
                                                                                                                 
  2004-Jan.        1115.7         781.4         120.7         902.1        502.3        296.3        2816.4      
       Feb.        1103.2         789.0         121.3         910.3        521.9        294.0        2829.4      
       Mar.        1111.8         806.1         124.0         930.1        523.2        290.4        2855.5      
                                                                                                                 
       Apr.        1120.7         832.7         128.0         960.7        505.7        295.6        2882.8      
       May         1119.1         854.4         132.4         986.8        517.8        299.8        2923.5      
                                                                                                                 
                                                                                                                 
                                                                                                                 
Week ending:                                        
  2004-Apr. 19     1121.5         830.4         128.3         958.7        504.0        295.8        2880.0      
            26     1127.7         835.8         129.9         965.6        509.1        299.1        2901.5      
                                                                                                                 
       May   3     1123.2         845.1         130.0         975.1        521.1        298.4        2917.8      
            10     1113.2         849.3         130.0         979.2        531.5        302.9        2926.9      
            17     1124.4         855.4         131.9         987.3        520.6        298.7        2930.9      
            24     1124.1         856.3         134.4         990.7        506.5        296.4        2917.8      
            31     1118.9         859.6         134.3         993.9        511.2        301.8        2925.7      
                                                                                                                 
       June  7p    1115.6         869.2         133.4        1002.6        522.1        303.5        2943.9      
            14p    1125.9         887.0         132.7        1019.7        524.6        302.2        2972.4      
                                                                                                                 
                                                                                                                 
                                                                                                                 
 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
    Other Checkable Deposits
DateCurrency1Travelers checks2Demand Deposits3At comm. banks4At thrift inst.5Total
 2003-Jan.                       628.9               7.7                 302.5               159.7               123.2               282.9  
      Feb.                       635.2               7.7                 299.7               154.6               124.2               278.9  
      Mar.                       639.9               7.7                 305.2               158.7               128.9               287.6  
                                                                                                                                            
      Apr.                       643.4               7.5                 310.8               160.5               134.0               294.4  
      May                        646.5               7.5                 310.3               157.5               132.2               289.7  
      June                       647.7               7.7                 321.1               161.8               133.4               295.2  
                                                                                                                                            
      July                       648.7               7.8                 320.2               162.7               134.9               297.6  
      Aug.                       650.4               7.8                 321.1               163.1               136.7               299.8  
      Sep.                       650.8               7.7                 311.9               166.7               137.0               303.7  
                                                                                                                                            
      Oct.                       655.7               7.6                 309.1               167.0               135.6               302.6  
      Nov.                       660.2               7.6                 310.2               166.6               135.9               302.6  
      Dec.                       667.0               7.6                 327.9               179.8               136.2               316.0  
                                                                                                                                            
                                                                                                                                            
 2004-Jan.                       662.7               7.7                 301.5               183.2               132.8               316.0  
      Feb.                       665.9               7.8                 305.1               179.8               133.9               313.7  
      Mar.                       667.5               7.8                 322.2               186.7               139.5               326.2  
                                                                                                                                            
      Apr.                       670.2               7.7                 321.9               187.2               143.8               331.0  
      May                        673.8               7.7                 313.2               180.0               142.2               322.2  
                                                                                                                                            
                                                                                                                                            
                                                                                                                                            
Week Ending:                                                                            
 2004-Apr. 19                    669.3               7.7                 320.9               187.1               143.5               330.6  
           26                    669.1               7.7                 339.8               192.4               143.1               335.5  
                                                                                                                                            
      May   3                    671.1               7.7                 350.1               191.9               148.0               339.9  
           10                    673.9               7.7                 280.5               174.5               141.5               316.0  
           17                    672.6               7.7                 309.8               176.9               139.9               316.8  
           24                    673.4               7.7                 325.0               182.3               139.9               322.1  
           31                    675.9               7.7                 327.9               183.5               144.8               328.3  
                                                                                                                                            
      June  7p                   677.6               7.7 e               284.5               178.9               144.0               322.9  
           14p                   677.1               7.8 e               302.5               178.6               139.8               318.4  
                                                                                                                                            
                                                                                                                                            
                                                                                                                                            
 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.
 



H.6 (508)
Table 8
NOT SEASONALLY ADJUSTED COMPONENTS OF NON-M1 M2
Billions of dollars
 Savings Deposits1Small-denomination time deposit2  
DateAt comm.
banks
At thrift
insts.
Total At comm.
banks
At thrift
insts.
Total Retail
money
funds3
Total
Non-M1 M2
 2003-Jan.                  2075.8          725.3         2801.1          586.3          300.8          887.2          908.5         4596.7  
      Feb.                  2097.4          739.4         2836.8          582.5          298.1          880.6          905.0         4622.5  
      Mar.                  2127.3          759.3         2886.6          578.5          296.2          874.7          902.6         4663.9  
                                                                                                                                             
      Apr.                  2171.3          776.3         2947.6          574.6          294.3          869.0          889.3         4705.9  
      May                   2177.7          789.5         2967.1          570.2          291.4          861.6          869.5         4698.2  
      June                  2217.7          798.5         3016.2          565.9          288.2          854.1          866.5         4736.8  
                                                                                                                                             
      July                  2264.5          810.7         3075.2          557.6          285.3          842.9          859.9         4778.0  
      Aug.                  2308.4          828.3         3136.7          550.8          282.1          832.9          862.2         4831.7  
      Sep.                  2298.9          837.0         3135.9          545.6          279.7          825.4          847.0         4808.3  
                                                                                                                                             
      Oct.                  2303.5          840.8         3144.3          542.2          277.5          819.6          822.1         4786.0  
      Nov.                  2338.9          840.5         3179.4          538.8          275.3          814.1          809.4         4803.0  
      Dec.                  2337.6          833.8         3171.3          536.7          273.0          809.8          797.4         4778.5  
                                                                                                                                             
                                                                                                                                             
 2004-Jan.                  2353.1          823.2         3176.4          535.1          272.1          807.2          782.0         4765.6  
      Feb.                  2381.0          831.3         3212.3          533.5          271.5          804.9          771.5         4788.7  
      Mar.                  2419.4          851.6         3271.0          531.3          271.0          802.3          760.6         4833.9  
                                                                                                                                             
      Apr.                  2484.9          864.6         3349.5          528.8          270.0          798.8          747.8         4896.0  
      May                   2513.4          871.4         3384.9          526.6          266.9          793.5          740.3         4918.7  
                                                                                                                                             
                                                                                                                                             
                                                                                                                                             
Week ending:                                                                        
 2004-Apr. 19               2503.5          867.1         3370.6          528.4          270.6          798.9          749.8         4919.4  
           26               2434.4          852.5         3286.9          528.4          268.7          797.1          746.2         4830.2  
                                                                                                                                             
      May   3               2446.1          859.9         3306.1          527.5          268.3          795.9          737.3         4839.2  
           10               2547.5          881.0         3428.5          527.0          268.1          795.1          736.4         4960.0  
           17               2542.1          882.2         3424.3          526.7          266.9          793.6          740.1         4958.1  
           24               2481.4          860.2         3341.6          526.2          266.2          792.4          744.9         4879.0  
           31               2490.9          864.2         3355.1          526.1          265.7          791.9          741.2         4888.2  
                                                                                                                                             
      June  7p              2574.3          884.9         3459.2          526.2          266.0          792.1          739.1         4990.4  
           14p              2565.6          888.5         3454.1          526.0          265.7          791.7          737.6         4983.4  
                                                                                                                                             
                                                                                                                                             
                                                                                                                                             
 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.
 
 

 

 

H.6 (508)
Table 9
NOT SEASONALLY ADJUSTED COMPONENTS OF NON-M2 M3
Billions of dollars
 
  Large-denomination time deposits1RPs3  
DateInstitutional
money
funds
At commercial
banks2
At thrift
institutions
TotalAt commercial
banks2
At thrift
institutions
TotalEurodollars4Total
Non-M2 M3
 2003-Jan.         1251.4        685.7         117.5        803.3        420.5        49.4        469.9       237.5       2762.1      
      Feb.         1233.1        684.6         117.9        802.5        441.5        50.7        492.2       241.3       2769.1      
      Mar.         1206.7        691.9         117.4        809.3        458.0        47.5        505.5       245.2       2766.7      
                                                                                                                                      
      Apr.         1161.1        691.3         117.7        809.0        455.9        49.4        505.4       252.8       2728.2      
      May          1136.0        702.9         118.0        820.9        475.9        49.1        525.0       264.6       2746.5      
      June         1146.2        699.6         118.8        818.5        480.1        49.4        529.5       260.2       2754.4      
                                                                                                                                      
      July         1179.3        700.2         121.2        821.4        444.1        53.6        497.7       265.6       2764.0      
      Aug.         1160.6        706.5         122.4        828.9        435.5        55.4        490.8       275.2       2755.5      
      Sep.         1153.8        715.7         122.2        837.9        431.9        52.2        484.0       276.7       2752.4      
                                                                                                                                      
      Oct.         1139.3        713.5         121.8        835.2        433.6        58.2        491.8       285.2       2751.5      
      Nov.         1141.6        724.4         120.6        845.0        441.2        62.7        503.9       287.6       2778.1      
      Dec.         1139.3        745.5         119.5        865.0        431.6        67.5        499.0       289.2       2792.6      
                                                                                                                                      
                                                                                                                                      
 2004-Jan.         1142.3        774.1         119.5        893.6        432.6        65.9        498.6       297.2       2831.6      
      Feb.         1127.1        785.6         120.8        906.4        464.8        63.2        528.0       297.0       2858.4      
      Mar.         1122.6        806.2         124.0        930.2        471.5        60.5        532.1       293.6       2878.4      
                                                                                                                                      
      Apr.         1105.8        832.3         127.9        960.3        451.3        60.5        511.7       298.6       2876.4      
      May          1100.7        862.7         133.7        996.4        471.8        60.6        532.4       302.6       2932.0      
                                                                                                                                      
                                                                                                                                      
                                                                                                                                      
Week ending:                                                              
 2004-Apr. 19      1102.6        827.1         127.8        954.9        447.9        60.5        508.3       297.8       2863.7      
           26      1103.6        832.4         129.3        961.7        458.5        60.0        518.5       303.5       2887.3      
                                                                                                                                      
      May   3      1093.2        848.6         130.5        979.2        472.6        61.0        533.6       303.7       2909.6      
           10      1089.2        857.6         131.3        988.9        485.0        60.2        545.2       305.6       2928.9      
           17      1105.3        864.9         133.4        998.2        475.2        59.7        535.0       300.1       2938.6      
           24      1111.2        864.7         135.8       1000.5        459.1        60.8        519.9       299.2       2930.9      
           31      1100.1        868.3         135.6       1003.9        467.7        61.3        529.0       304.9       2938.0      
                                                                                                                                      
      June  7p     1097.3        876.7         134.6       1011.3        476.6        61.2        537.8       303.7       2950.1      
           14p     1115.1        889.2         133.0       1022.2        480.4        60.5        540.9       299.2       2977.5      
                                                                                                                                      
                                                                                                                                      
                                                                                                                                      
 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
 Demand deposits
at banks due to
 U.S. government depositIRA and Keogh Accounts
DateForeign
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
institutions1
Total
cash
balance
Time and
savings
deposits at
commercial
banks
At commercial
banks
At thrift
institutions
At money
market funds
Total
 2003-Jan.                8.6          1.1         16.4            1.8          5.8         13.2         20.8       26.2        165.8          97.6         178.1         441.5  
      Feb.                7.9          1.1         17.3            1.5          5.1          5.7         12.2       23.0        166.3          98.7         180.7         445.7  
      Mar.                7.3          1.1         18.2            1.4          5.3          4.1         10.9       19.8        166.8          99.9         183.3         450.1  
                                                                                                                                                                                 
      Apr.                7.2          1.1         18.4            2.3          7.5          4.2         14.1       20.4        167.2         101.0         183.0         451.2  
      May                 7.5          1.1         18.0            1.3          6.7          6.0         13.9       23.5        167.5         101.5         180.7         449.7  
      June                7.8          1.2         17.5            2.4          6.7         12.4         21.6       26.6        167.8         101.9         178.4         448.2  
                                                                                                                                                                                 
      July                7.5          1.2         17.7            1.4          6.2         13.5         21.1       24.1        167.8         102.2         176.9         446.9  
      Aug.                7.1          1.2         19.0            1.5          5.6          6.4         13.5       18.3        167.7         102.4         175.9         445.9  
      Sep.                6.7          1.3         20.2            1.8          6.2         18.2         26.2       12.5        167.6         102.5         174.9         444.9  
                                                                                                                                                                                 
      Oct.                6.6          1.1         20.0            1.5          4.9         12.1         18.5        8.2        167.3         102.5         173.4 e       443.1 e
      Nov.                7.2          1.0         17.9            1.6          5.1         10.1         16.8        5.9        166.8         102.3         171.2 e       440.2 e
      Dec.                7.7          1.0         15.7            1.7          5.3         16.9         23.9        3.7        166.3         102.0         169.0 e       437.3 e
                                                                                                                                                                                 
                                                                                                                                                                                 
 2004-Jan.                7.9 e        1.0 e       13.6 e          2.0          5.6         24.3         31.9        2.4 e      166.1 e       101.6 e       167.8 e       435.5 e
      Feb.                7.6 e        1.1 e       13.7 e          1.6          5.3         15.8         22.6        2.2 e      166.2 e       101.7 e       167.8 e       435.7 e
      Mar.                7.3 e        1.1 e       13.8 e          1.6          5.4         14.3         21.3        2.0 e      166.3 e       101.8 e       167.8 e       435.9 e
                                                                                                                                                                                 
      Apr.                7.2 e        1.2 e       13.8 e          2.7          6.0         16.3         25.1        1.9 e      166.5 e       101.9 e       167.8 e       436.2 e
      May                 7.2 e        1.2 e       13.8 e          1.6          5.4         13.4         20.3        1.9 e      166.8 e       102.1 e       167.8 e       436.7 e
                                                                                                                                                                                 
                                                                                                                                                                                 
                                                                                                                                                                                 
 2004-Apr. 19                                                      3.2          6.2         15.2         24.6                                                                    
           26                                                      4.5          7.3         26.1         37.9                                                                    
                                                                                                                                                                                 
      May   3                                                      1.9          6.2         35.6         43.7                                                                    
           10                                                      1.6          5.6         11.8         19.0                                                                    
           17                                                      1.8          5.5          9.3         16.6                                                                    
           24                                                      1.4          5.1         15.6         22.1                                                                    
           31                                                      1.4          4.9         10.7         16.9                                                                    
                                                                                                                                                                                 
      June  7p                                                     1.6          4.2          2.9          8.7                                                                    
           14p                                                     1.8          5.4          1.9          9.1                                                                    
                                                                                                                                                                                 
                                                                                                                                                                                 
                                                                                                                                                                                 
 1. Source: Daily Treasury statement.
e -- indicates estimated data     p -- indicates preliminary data
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