Federal Reserve Statistical Release, H.6, Money Stock Measures; title with eagle logo links to Statistical Release home page
Release Date: January 30, 2003
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For Release at
4:30 P.M. Eastern time
  January 30, 2003

H.6 (508)						

MONEY STOCK REVISIONS



Measures of the money stock and components have been revised to incorporate the results of the 
annual seasonal factor review.  This release includes revised monthly and weekly seasonal factors, as 
well as comparisons of the revised monetary aggregates with previously published data.    		
		
     
Seasonally adjusted measures of the monetary aggregates and components incorporate revised 
seasonal factors, which were derived from data through December 2002.  Monthly seasonal factors were 
estimated using the X-12-ARIMA procedure.  The revisions to seasonal factors raised M2 and M3 
growth rates on average in the first half of 2002 while lowering them in the second half of the year.

Historical data, updated each week, are available through the Federal Reserve=s web site 
(http://www.federalreserve.gov/releases/) with the H.6 statistical release.  The data are also available 
through paid electronic means, which can be accessed by calling STAT-USA at 1-800-782-8872 or 
202-482-1986.

 FEDERAL RESERVE STATISTICAL RELEASE
 
H.6 (508)
Table 1 These data are scheduled for release each Thursday at 4:30 p.m.
January 30, 2003
MONEY STOCK MEASURES
Billions of dollars     
DateM11M22M33
Seasonally adjusted  
2001-Jan.           1093.3            4981.2            7196.1           
     Feb.           1100.2            5026.4            7270.9           
     Mar.           1108.0            5079.3            7338.2           
     Apr.           1106.3            5125.0            7454.9           
     May            1117.0            5149.8            7534.0           
     June           1126.1            5194.3            7621.3           
     July           1138.3            5228.6            7658.7           
     Aug.           1149.7            5262.0            7667.6           
     Sep.           1201.8            5372.7            7824.5           
     Oct.           1164.5            5358.5            7858.9           
     Nov.           1165.9            5399.0            7932.8           
     Dec.           1173.4            5440.6            7993.5           
                                                                         
2002-Jan.           1179.7            5464.4            8004.7           
     Feb.           1186.1            5502.7            8056.0           
     Mar.           1188.1            5503.5            8068.4           
     Apr.           1173.7            5491.5            8071.2           
     May            1184.4            5557.3            8135.1           
     June           1190.2            5589.1            8171.4           
     July           1197.4            5638.0            8221.0           
     Aug.           1186.3            5677.1            8291.0           
     Sep.           1192.5            5703.5            8333.5           
     Oct.           1203.9            5741.7            8338.1           
     Nov.           1203.4            5778.6            8454.5           
     Dec.           1211.6            5791.7            8502.1           
                                                                         
Not seasonally adjusted
2001-Jan.           1099.5            4989.0            7228.3           
     Feb.           1087.5            5018.6            7301.2           
     Mar.           1107.3            5110.1            7395.4           
     Apr.           1122.6            5184.1            7512.1           
     May            1110.9            5121.5            7517.5           
     June           1123.0            5173.6            7597.2           
     July           1136.6            5203.3            7607.7           
     Aug.           1141.9            5240.4            7617.9           
     Sep.           1191.2            5355.0            7759.0           
     Oct.           1155.4            5339.3            7803.3           
     Nov.           1164.7            5402.9            7939.0           
     Dec.           1203.5            5483.5            8065.2           
                                                                         
2002-Jan.           1185.9            5471.7            8046.5           
     Feb.           1172.1            5489.8            8088.3           
     Mar.           1189.8            5538.4            8133.8           
     Apr.           1189.1            5553.8            8129.8           
     May            1178.7            5525.7            8113.1           
     June           1187.8            5565.3            8145.0           
     July           1195.0            5609.3            8167.8           
     Aug.           1178.4            5654.9            8239.5           
     Sep.           1182.5            5681.3            8258.6           
     Oct.           1193.6            5720.9            8281.5           
     Nov.           1202.0            5793.1            8470.2           
     Dec.           1241.5            5841.0            8579.6           
                                                                         
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 Sep. 2002 TO Dec. 2002    6.4         6.2         8.1         
 6 Months from June 2002 TO Dec. 2002    3.6         7.2         8.1         
12 Months from Dec. 2001 TO Dec. 2002    3.3         6.5         6.4         
Thirteen weeks ending                                                                     
January 20 , 2003                                                                         
from thirteen weeks ending:                                                               
Oct. 21, 2002 (13 weeks previous)        4.8         6.3         7.4         
July 22, 2002 (26 weeks previous)        3.1         7.4         7.5         
Jan. 21, 2002 (52 weeks previous)        3.1         6.7         6.3         
  
Footnotes to Table 1:
1. Consists of (1) currency outside the U.S. Treasury, Federal Reserve Banks, and the vaults of depository institutions;
(2) travelers checks of nonbank issuers; (3) demand deposits at all commercial banks other than those due to depository
institutions, the U.S. government, and foreign banks and official institutions, less cash items in the process of collection
and Federal Reserve float; and (4) other checkable deposits (OCDs), consisting of negotiable order of withdrawal (NOW)
and automatic transfer service (ATS) accounts at depository institutions, credit union share draft accounts and demand deposits
at thrift institutions. Seasonally adjusted M1 is calculated by summing currency, travelers checks, demand deposits, and
OCDs, each seasonally adjusted separately.
2. Consists of M1 plus savings deposits (including money market deposit accounts), small-denomination time deposits (time
deposits-including retail RPs-in amounts of less than $100,000), and balances in retail money market mutual funds. Excludes
individual retirement account(IRA) and Keogh balances at depository institutions and money market funds. Seasonally adjusted
M2 is computed by summing savings deposits, small denomination time deposits, and retail money fund balances, each seasonally
adjusted separately, and adding this result to seasonally adjusted M1.
3. Consists of M2 plus large-denomination time deposits (in amounts of $100,000 or more), balances in institutional money
funds, RP liabilities (overnight and term) issued by all depository institutions, and Eurodollars (overnight and term) held
by U.S. residents at foreign branches of U.S. banks worldwide and at all banking offices in the United Kingdom and Canada.
Excludes amounts held by depository institutions, the U.S. government, money funds, and foreign banks and official institutions.
Seasonally adjusted M3 is calculated by summing large time deposits, institutional money fund balances, RP liabilities, and
Eurodollars, each 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 
 2002-Oct. 28             1193.7        1203.8        1216.1          5704.7        5739.4        5757.3          8317.6        8334.1        8358.1 
                                                                                                                                                     
      Nov.  4             1195.3        1207.1        1205.2          5712.3        5749.4        5760.6          8326.5        8348.3        8373.4 
           11             1197.1        1207.1        1199.8          5720.5        5759.3        5774.6          8337.8        8370.4        8415.6 
           18             1198.3        1205.4        1200.3          5728.8        5769.5        5785.5          8351.0        8404.7        8471.7 
           25             1199.2        1202.2        1203.4          5735.9        5775.6        5781.8          8365.0        8439.1        8495.6 
                                                                                                                                                     
      Dec.  2             1200.4        1203.8        1211.5          5743.4        5781.9        5785.7          8379.0        8469.0        8493.1 
            9             1202.1        1204.9        1204.5          5750.7        5784.6        5785.2          8393.1        8489.8        8498.6 
           16             1203.7        1206.7        1207.2          5757.6        5785.2        5788.2          8406.2        8498.6        8507.1 
           23             1205.2        1209.9        1216.4          5764.3        5789.0        5796.9          8418.6        8500.4        8502.8 
           30             1206.2        1211.2        1216.8          5770.2        5791.6        5796.2          8430.8        8503.6        8505.7 
                                                                                                                                                     
 2003-Jan.  6             1207.2        1211.5        1205.6          5775.7        5793.3        5792.0          8442.3        8495.6        8466.6 
           13p            1206.8        1208.4        1194.7          5780.5        5795.9        5798.3          8452.8        8484.6        8463.3 
           20p            1207.3        1207.6        1213.4          5786.7        5803.0        5825.3          8465.1        8482.7        8495.0 
                                                                                                                                                     
                                                                                                                                                     
Not seasonally adjusted                 
 2002-Oct. 28             1183.6        1188.0        1219.3          5683.6        5722.2        5704.2          8256.8        8279.2        8281.2 
                                                                                                                                                     
      Nov.  4             1186.2        1199.3        1210.4          5691.9        5733.9        5769.9          8266.4        8301.0        8346.3 
           11             1187.9        1199.3        1173.7          5701.4        5746.5        5784.9          8279.8        8330.3        8415.2 
           18             1189.2        1198.4        1190.0          5712.8        5766.6        5807.5          8299.3        8385.8        8500.6 
           25             1190.6        1196.1        1210.3          5723.3        5782.2        5766.5          8320.2        8441.1        8502.3 
                                                                                                                                                     
      Dec.  2             1193.2        1207.7        1256.6          5735.8        5795.7        5823.8          8342.5        8490.0        8541.8 
            9             1195.8        1213.4        1196.7          5745.4        5808.2        5834.8          8365.1        8530.6        8577.8 
           16             1199.5        1219.8        1215.4          5756.5        5820.4        5856.5          8389.9        8561.6        8624.6 
           23             1205.8        1231.5        1257.2          5771.0        5838.2        5837.7          8416.7        8579.8        8575.1 
           30             1211.7        1239.7        1289.6          5784.8        5840.2        5831.7          8442.9        8583.8        8557.8 
                                                                                                                                                     
 2003-Jan.  6             1217.2        1249.8        1236.8          5796.3        5849.7        5872.7          8463.7        8571.7        8529.2 
           13p            1219.1        1245.5        1198.2          5805.2        5848.1        5850.2          8483.4        8554.0        8553.9 
           20p            1220.8        1235.2        1216.3          5813.5        5847.6        5835.7          8504.7        8549.2        8555.8 
                                                                                                                                                     
                                                                                                                                                     
 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
 2001-Aug.                        561.8               8.7                 318.8               139.0               121.5               260.5  
      Sep.                        567.5               8.4                 365.6               139.3               121.0               260.3  
                                                                                                                                             
      Oct.                        571.8               8.1                 331.0               140.4               113.2               253.6  
      Nov.                        575.9               7.8                 327.3               141.0               113.9               254.9  
      Dec.                        581.4               7.8                 325.6               141.8               116.9               258.8  
                                                                                                                                             
                                                                                                                                             
 2002-Jan.                        587.0               7.9                 324.9               142.4               117.5               259.9  
      Feb.                        591.9               7.8                 325.1               143.0               118.3               261.3  
      Mar.                        595.7               7.8                 323.3               143.4               118.0               261.4  
                                                                                                                                             
      Apr.                        599.8               7.7                 305.2               143.6               117.4               261.0  
      May                         604.6               7.8                 306.5               145.3               120.2               265.5  
      June                        609.0               8.2                 305.6               145.8               121.6               267.4  
                                                                                                                                             
      July                        613.3               8.5                 304.5               148.0               123.0               271.1  
      Aug.                        615.9               8.3                 289.6               149.5               123.0               272.5  
      Sep.                        617.8               7.9                 292.0               151.1               123.6               274.8  
                                                                                                                                             
      Oct.                        620.5               7.7                 299.3               151.6               124.8               276.4  
      Nov.                        623.2               7.5                 294.1               152.1               126.5               278.7  
      Dec.                        626.9               7.5                 296.5               153.8               126.9               280.7  
                                                                                                                                             
                                                                                                                                             
                                                                                                                                             
Week Ending:                                                                             
 2002-Nov. 25                     623.2               7.4                 293.4               152.5               126.8               279.3  
                                                                                                                                             
      Dec.  2                     625.9               7.4                 298.2               153.1               126.9               280.0  
            9                     626.5               7.5                 289.9               154.1               126.5               280.6  
           16                     626.5               7.5                 292.5               154.0               126.7               280.7  
           23                     626.9               7.6                 301.2               154.0               126.7               280.7  
           30                     627.8               7.6                 300.4               153.5               127.4               280.9  
                                                                                                                                             
 2003-Jan.  6                     628.6               7.7                 290.3               152.0               127.1               279.1  
           13p                    628.9               7.7 e               282.9               151.4               123.9               275.2  
           20p                    630.8               7.7 e               298.1               150.8               126.1               276.9  
                                                                                                                                             
                                                                                                                                             
                                                                                                                                             
 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 commercial banks and foreign-related institutions other than those due to depository institutions, the U.S. government
and foreign banks and official institutions, less cash items in the process of collection and Federal Reserve float.
4. Consists of NOW and ATS balances at commercial banks, U.S. branches and agencies of foreign banks, and Edge Act corporations.
5. Consists of NOW and ATS balances at thrifts, credit union share draft balances, and demand deposits at thrifts.
 

e -- 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
funds
Total
Non-M1 M2
 2001-Aug.                  1613.3          518.2         2131.4          667.9          347.0         1014.9          965.9         4112.3 
      Sep.                  1655.3          527.4         2182.8          663.4          345.8         1009.2          979.0         4170.9 
                                                                                                                                            
      Oct.                  1665.9          540.5         2206.4          657.8          342.6         1000.4          987.3         4194.0 
      Nov.                  1704.9          552.4         2257.3          648.5          338.6          987.1          988.7         4233.1 
      Dec.                  1734.5          569.0         2303.5          634.2          338.7          972.9          990.7         4267.1 
                                                                                                                                             
                                                                                                                                             
 2002-Jan.                  1764.5          580.1         2344.6          627.3          333.4          960.7          979.3         4284.6 
      Feb.                  1796.4          598.3         2394.7          620.5          329.2          949.7          972.2         4316.6 
      Mar.                  1805.1          612.3         2417.4          614.6          326.0          940.5          957.3         4315.3 
                                                                                                                                            
      Apr.                  1822.1          624.2         2446.3          609.9          322.8          932.7          938.8         4317.8 
      May                   1862.0          632.4         2494.5          612.9          314.0          926.8          951.6         4372.9 
      June                  1884.8          641.4         2526.2          610.3          310.7          921.0          951.6         4398.8 
                                                                                                                                            
      July                  1909.9          653.1         2563.0          606.3          308.7          915.0          962.5         4440.6 
      Aug.                  1955.5          664.9         2620.5          602.0          306.7          908.7          961.7         4490.8 
      Sep.                  1982.7          676.8         2659.5          595.9          304.3          900.2          951.3         4511.0 
                                                                                                                                            
      Oct.                  2006.4          689.7         2696.0          590.9          302.3          893.2          948.5         4537.7 
      Nov.                  2041.2          698.1         2739.3          586.3          300.4          886.8          949.2         4575.2 
      Dec.                  2047.4          710.8         2758.2          580.9          299.0          879.9          942.0         4580.1 
                                                                                                                                            
                                                                                                                                            
                                                                                                                                            
Week ending:                                                                       
 2002-Nov. 25               2040.5          701.0         2741.5          584.9          300.5          885.4          951.6         4578.5 
                                                                                                                                            
      Dec.  2               2037.0          706.9         2744.0          584.1          300.2          884.3          946.0         4574.2 
            9               2046.6          706.2         2752.8          582.7          299.6          882.4          945.5         4580.7 
           16               2047.1          710.1         2757.3          581.5          299.1          880.6          943.1         4581.0 
           23               2051.0          710.0         2761.1          580.0          298.6          878.7          940.8         4580.5 
           30               2045.6          718.5         2764.1          579.0          298.3          877.3          938.1         4579.5 
                                                                                                                                            
 2003-Jan.  6               2063.1          710.7         2773.8          578.0          297.8          875.8          936.7         4586.4 
           13p              2081.1          720.8         2802.0          577.1          297.4          874.5          927.0         4603.6 
           20p              2087.0          724.9         2811.9          576.0          297.3          873.3          926.7         4611.9 
                                                                                                                                            
                                                                                                                                            
                                                                                                                                            
 1. Savings deposits include money market deposit accounts.
2. Small denomination time deposits--including retail RPs--are those issued in amounts of less than $100,000. All IRA and Keogh account balances
at commercial banks and thrifts are subtracted from small time deposits.
 

p -- 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
  2001-Aug.        030.0         681.0         114.8         795.8        372.0        207.8        2405.6       
       Sep.        085.3         680.1         115.5         795.6        363.3        207.7        2451.8       
                                                                                                                 
       Oct.        149.4         671.6         115.5         787.1        360.2        203.7        2500.4       
       Nov.        169.4         666.5         114.2         780.7        376.7        207.0        2533.8       
       Dec.        189.7         670.8         114.9         785.7        375.0        202.5        2552.9       
                                                                                                                 
                                                                                                                 
  2002-Jan.        174.5         675.1         115.4         790.5        373.0        202.3        2540.3       
       Feb.        179.6         677.9         115.4         793.3        372.9        207.6        2553.3       
       Mar.        184.6         681.8         115.1         796.9        374.6        208.8        2564.9       
                                                                                                                 
       Apr.        188.5         692.6         115.5         808.1        375.3        207.7        2579.7       
       May         188.1         702.3         112.4         814.7        371.4        203.6        2577.8       
       June        196.6         702.9         111.0         813.9        371.8        200.1        2582.4       
                                                                                                                 
       July        192.1         706.4         111.1         817.5        373.1        200.3        2583.1       
       Aug.        191.2         706.4         112.5         818.8        399.9        203.9        2613.9       
       Sep.        183.0         704.4         112.7         817.1        422.5        207.5        2630.1       
                                                                                                                 
       Oct.        142.2         710.7         113.5         824.2        420.9        209.2        2596.5       
       Nov.        207.5         701.1         115.0         816.0        440.5        211.8        2675.8       
       Dec.        232.9         678.7         116.4         795.1        469.0        213.4        2710.4       
                                                                                                                 
                                                                                                                 
                                                                                                                 
Week ending:                                         
  2002-Nov. 25     243.9         696.5         115.3         811.7        444.9        213.3        2713.8       
                                                                                                                 
       Dec.  2     234.8         691.8         116.4         808.1        450.6        213.9        2707.4       
             9     243.3         683.1         116.3         799.5        456.7        213.9        2713.4       
            16     241.1         676.7         115.8         792.5        471.8        213.5        2718.8       
            23     226.4         676.9         116.0         792.9        473.3        213.2        2705.9       
            30     222.4         676.0         116.8         792.8        481.3        213.0        2709.5       
                                                                                                                 
  2003-Jan.  6     217.9         670.5         117.5         787.9        456.6        212.1        2674.6       
            13p    195.3         681.6         117.0         798.6        454.7        216.5        2665.1       
            20p    179.5         695.5         117.6         813.1        460.9        216.2        2669.7       
                                                                                                                 
                                                                                                                 
                                                                                                                 
 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 commercial banks less those held by money market mutual funds, depository institutions, U.S. government,
and foreign banks and official institutions.
3. Overnight and term RPs of $100,000 or more issued by depository institutions, excluding those held by depository institutions and by money funds.
4. Overnight and term Eurodollars issued to U.S. addressees by foreign branches of U.S. banks worldwide and by all banking offices in the United
Kingdom and Canada, excluding those held by depository institutions and by money funds.
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
DateCurrency1Travelers checks2Demand Deposits3At comm. banks4At thrift inst.5Total
 2001-Aug.                       561.8               8.4                 316.1               135.5               120.0               255.5  
      Sep.                       566.2               8.3                 361.5               135.5               119.7               255.3  
                                                                                                                                            
      Oct.                       569.7               8.1                 327.4               138.8               111.4               250.2  
      Nov.                       575.4               7.9                 329.3               138.7               113.4               252.1  
      Dec.                       584.9               7.9                 347.6               145.6               117.5               263.2  
                                                                                                                                            
                                                                                                                                            
 2002-Jan.                       584.7               8.0                 329.1               148.4               115.7               264.1  
      Feb.                       591.0               8.0                 316.2               141.8               115.2               257.0  
      Mar.                       596.1               7.9                 321.9               144.1               119.9               263.9  
                                                                                                                                            
      Apr.                       599.6               7.9                 309.2               149.3               123.1               272.4  
      May                        605.1               7.9                 299.8               144.9               121.0               265.9  
      June                       610.4               8.0                 301.8               144.2               123.4               267.6  
                                                                                                                                            
      July                       615.3               8.2                 303.3               145.9               122.3               268.2  
      Aug.                       616.3               8.1                 287.0               145.8               121.2               267.0  
      Sep.                       616.1               7.8                 289.3               147.4               121.9               269.3  
                                                                                                                                            
      Oct.                       617.9               7.7                 294.9               150.2               122.8               273.0  
      Nov.                       622.8               7.6                 296.2               149.4               126.1               275.4  
      Dec.                       630.2               7.7                 316.9               158.3               128.4               286.7  
                                                                                                                                            
                                                                                                                                            
                                                                                                                                            
Week Ending:                                                                            
 2002-Nov. 25                    622.3               7.6                 302.6               153.5               124.2               277.7  
                                                                                                                                            
      Dec.  2                    626.2               7.6                 333.3               157.6               131.9               289.5  
            9                    627.0               7.6                 283.5               149.5               129.1               278.6  
           16                    627.6               7.7                 303.0               151.3               125.9               277.2  
           23                    633.1               7.7                 326.5               162.6               127.3               289.9  
           30                    634.1               7.7                 348.0               170.3               129.4               299.7  
                                                                                                                                            
 2003-Jan.  6                    631.1               7.7                 307.3               159.2               131.5               290.6  
           13p                   627.4               7.8 e               285.7               152.8               124.4               277.3  
           20p                   628.1               7.8 e               299.8               158.5               122.0               280.6  
                                                                                                                                            
                                                                                                                                            
                                                                                                                                            
 1. Currency outside U.S. Treasury, Federal Reserve Banks and the vaults of depository institutions.
2. Outstanding amount of U.S. dollar-denominated travelers checks of nonbank issuers. Travelers checks issued by depository institutions are
included in demand deposits.
3. Demand deposits at commercial banks and foreign-related institutions other than those due to depository institutions, the U.S. government
and foreign banks and official institutions, less cash items in the process of collection and Federal Reserve float.
4. Consists of NOW and ATS balances at commercial banks, U.S. branches and agencies of foreign banks, and Edge Act corporations.
5. Consists of NOW and ATS balances at thrifts, credit union share draft balances, and demand deposits at thrifts.
 

e -- 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
funds
Total
Non-M1 M2
 2001-Aug.                  1607.8          516.4         2124.1          667.9          347.0         1014.9          959.5         4098.6  
      Sep.                  1655.8          527.6         2183.3          664.0          346.1         1010.1          970.4         4163.8  
                                                                                                                                             
      Oct.                  1662.0          539.2         2201.2          659.0          343.3         1002.2          980.4         4183.9  
      Nov.                  1710.8          554.3         2265.1          650.3          339.5          989.9          983.2         4238.2  
      Dec.                  1742.3          571.5         2313.8          635.2          339.2          974.4          991.8         4280.0  
                                                                                                                                             
                                                                                                                                             
 2002-Jan.                  1758.1          578.0         2336.2          627.8          333.7          961.5          988.1         4285.8  
      Feb.                  1787.6          595.3         2382.9          620.7          329.3          950.0          984.8         4317.7  
      Mar.                  1816.1          616.1         2432.2          613.8          325.5          939.3          977.1         4348.6  
                                                                                                                                             
      Apr.                  1842.5          631.2         2473.7          608.7          322.2          930.9          960.1         4364.7  
      May                   1852.9          629.3         2482.3          611.9          313.5          925.4          939.4         4347.0  
      June                  1880.7          640.0         2520.7          609.1          310.1          919.3          937.5         4377.4  
                                                                                                                                             
      July                  1899.2          649.4         2548.6          605.8          308.4          914.2          951.5         4414.3  
      Aug.                  1948.6          662.6         2611.1          602.3          306.8          909.0          956.3         4476.5  
      Sep.                  1979.4          675.6         2655.0          596.6          304.6          901.2          942.6         4498.8  
                                                                                                                                             
      Oct.                  2002.0          688.2         2690.1          591.9          302.8          894.6          942.5         4527.2  
      Nov.                  2054.4          702.6         2757.0          587.7          301.1          888.9          945.2         4591.0  
      Dec.                  2059.9          715.2         2775.1          581.6          299.3          880.9          943.5         4599.5  
                                                                                                                                             
                                                                                                                                             
                                                                                                                                             
Week ending:                                                                        
 2002-Nov. 25               2022.8          694.9         2717.6          586.2          301.1          887.3          951.3         4556.2  
                                                                                                                                             
      Dec.  2               2031.3          704.9         2736.2          585.3          300.8          886.1          945.0         4567.3  
            9               2085.9          719.8         2805.8          583.8          300.2          883.9          948.3         4638.0  
           16               2087.7          724.2         2811.9          582.2          299.5          881.7          947.4         4641.1  
           23               2048.8          709.3         2758.1          580.4          298.8          879.2          943.2         4580.5  
           30               2018.7          709.1         2727.8          579.3          298.4          877.7          936.7         4542.1  
                                                                                                                                             
 2003-Jan.  6               2103.6          724.6         2828.3          578.9          298.3          877.2          930.5         4636.0  
           13p              2108.8          730.4         2839.2          577.6          297.7          875.4          937.5         4652.1  
           20p              2082.6          723.3         2806.0          576.1          297.4          873.4          940.0         4619.4  
                                                                                                                                             
                                                                                                                                             
                                                                                                                                             
 1. Savings deposits include money market deposit accounts.
2. Small denomination time deposits--including retail RPs--are those issued in amounts of less than $100,000. All IRA and Keogh account balances
at commercial banks and thrifts are subtracted from small time deposits.
 

p -- 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
 2001-Aug.         012.3        677.4         114.2        791.6        313.5        56.1        369.6       204.0       2377.5       
      Sep.         050.2        679.3         115.3        794.6        305.2        49.6        354.8       204.3       2404.0       
                                                                                                                                      
      Oct.         126.2        671.9         115.6        787.5        301.7        48.7        350.4       200.0       2464.0       
      Nov.         174.2        668.3         114.5        782.8        320.0        53.4        373.4       205.7       2536.1       
      Dec.         217.7        669.7         114.7        784.4        315.5        61.1        376.5       203.0       2581.7       
                                                                                                                                      
                                                                                                                                      
 2002-Jan.         210.7        670.7         114.7        785.4        300.3        75.3        375.6       203.1       2574.9       
      Feb.         215.4        675.3         115.0        790.3        301.2        80.4        381.5       211.3       2598.5       
      Mar.         208.0        680.6         114.9        795.5        301.9        76.9        378.9       213.0       2595.3       
                                                                                                                                      
      Apr.         185.4        692.1         115.4        807.5        306.1        65.6        371.7       211.4       2576.0       
      May          183.1        708.3         113.3        821.7        314.4        62.2        376.6       206.1       2587.4       
      June         182.7        707.7         111.8        819.5        317.9        60.5        378.4       199.2       2579.7       
                                                                                                                                      
      July         169.8        706.3         111.1        817.5        316.2        57.8        374.0       197.3       2558.6       
      Aug.         170.7        704.1         112.1        816.2        339.5        57.8        397.4       200.4       2584.6       
      Sep.         144.1        704.7         112.7        817.4        358.2        53.0        411.2       204.7       2577.3       
                                                                                                                                      
      Oct.         119.2        712.9         113.9        826.8        358.5        50.4        408.8       205.8       2560.7       
      Nov.         211.4        703.3         115.3        818.6        383.8        52.0        435.8       211.3       2677.1       
      Dec.         260.7        677.1         116.1        793.2        419.8        51.0        470.8       214.0       2738.6       
                                                                                                                                      
                                                                                                                                      
                                                                                                                                      
Week ending:                                                               
 2002-Nov. 25      268.5        699.2         115.7        814.9        384.9        53.7        438.5       213.8       2735.8       
                                                                                                                                      
      Dec.  2      252.0        689.6         116.0        805.7        391.1        54.6        445.7       214.6       2717.9       
            9      274.6        681.3         116.0        797.3        405.2        53.3        458.5       212.6       2743.0       
           16      285.9        678.5         116.1        794.6        421.0        53.7        474.8       212.8       2768.1       
           23      255.7        677.0         116.1        793.1        426.0        49.8        475.8       212.8       2737.4       
           30      236.7        672.0         116.1        788.2        437.2        46.8        483.9       217.2       2726.1       
                                                                                                                                      
 2003-Jan.  6      206.6        664.9         116.5        781.4        406.7        46.6        453.3       215.2       2656.5       
           13p     234.8        678.5         116.4        795.0        411.8        45.8        457.6       216.4       2703.7       
           20p     233.1        689.6         116.5        806.1        416.9        47.5        464.4       216.4       2720.1       
                                                                                                                                      
                                                                                                                                      
                                                                                                                                      
 1. Large-denomination time deposits are those issued in amounts of $100,000 or more, excluding those booked at international banking facilities.
2. Large-denomination time deposits at commercial banks less those held by money market mutual funds, depository institutions, U.S. government,
and foreign banks and official institutions.
3. Overnight and term RPs of $100,000 or more issued by depository institutions, excluding those held by depository institutions and by money funds.
4. Overnight and term Eurodollars issued to U.S. addressees by foreign branches of U.S. banks worldwide and by all banking offices in the United
Kingdom and Canada, excluding those held by depository institutions and by money funds.
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
 2001-Aug.                8.0          1.1         21.9            1.1          5.0         26.7         32.8       10.8        160.9          95.5         162.4         418.9  
      Sep.                8.1          1.3         20.2            2.1          6.6         19.6         28.4       11.4        160.5          95.7         166.3         422.5  
                                                                                                                                                                                 
      Oct.                8.2          1.6         19.2            2.6          5.2         27.8         35.6       11.5        160.3          95.5         167.4         423.2  
      Nov.                8.4          1.4         18.8            2.8          5.1         22.5         30.4       11.1        160.3          95.1         166.5         421.8  
      Dec.                8.5          1.5         18.4            4.1          5.3         27.2         36.5       10.7        160.2          94.7         165.6         420.5  
                                                                                                                                                                                 
                                                                                                                                                                                 
 2002-Jan.                8.6          1.3         18.2            3.5          7.0         39.2         49.7       11.5        160.0          95.3         164.9         420.2  
      Feb.                8.7          1.3         18.1            2.6          4.9         33.0         40.5       13.0        159.8          96.3         164.3         420.5  
      Mar.                8.8          1.1         18.1            2.7          5.6         16.9         25.1       14.6        159.7          97.3         163.8         420.7  
                                                                                                                                                                                 
      Apr.                8.6          1.0         18.0            4.6          6.1          5.8         16.5       14.2        160.5          97.5         162.6 e       420.6 e
      May                 8.2          1.0         17.9            3.0          5.1          7.5         15.5       12.4        162.1          97.0         160.9 e       420.0 e
      June                7.8          1.0         17.8            4.2          6.1         16.3         26.6       10.6        163.7          96.5         159.3 e       419.5 e
                                                                                                                                                                                 
      July                7.4          1.0         16.9            5.3          5.3         11.8         22.4       11.6        164.9          96.6         158.6 e       420.1 e
      Aug.                7.0          1.0         15.5            4.6          5.1         18.3         27.9       14.5        165.8          97.0         158.6 e       421.5 e
      Sep.                6.6          1.1         14.1            5.1          5.8         27.7         38.6       17.3        166.7          97.5         158.6 e       422.8 e
                                                                                                                                                                                 
      Oct.                6.4 e        1.1 e       13.5 e          3.1          4.9         18.6         26.5       18.4 e      167.3 e        97.7 e       158.6 e       423.6 e
      Nov.                6.4 e        1.1 e       13.5 e          3.2          5.0         16.1         24.3       18.4 e      167.8 e        97.7 e       158.6 e       424.1 e
      Dec.                6.4 e        1.1 e       13.5 e          3.8          4.9         15.3         24.0       18.4 e      168.2 e        97.7 e       158.6 e       424.5 e
                                                                                                                                                                                 
                                                                                                                                                                                 
                                                                                                                                                                                 
 2002-Nov. 25                                                      2.8          5.0         24.3         32.1                                                                    
                                                                                                                                                                                 
      Dec.  2                                                      3.0          4.9         24.1         32.0                                                                    
            9                                                      3.5          3.8          0.5          7.8                                                                    
           16                                                      4.1          5.5          9.0         18.6                                                                    
           23                                                      3.7          5.3         25.4         34.4                                                                    
           30                                                      3.7          5.1         21.9         30.7                                                                    
                                                                                                                                                                                 
 2003-Jan.  6                                                      3.8          4.6         16.4         24.8                                                                    
           13p                                                     3.3          5.3          3.2         11.8                                                                    
           20p                                                     4.5          5.8          4.5         14.8                                                                    
                                                                                                                                                                                 
                                                                                                                                                                                 
                                                                                                                                                                                 
 1. Source: Daily Treasury statement.
e -- indicates estimated data     p -- indicates preliminary data
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