Federal Reserve Statistical Release, H.6, Money Stock Measures; title with eagle logo links to Statistical Release home page
Release Date: January 26, 2006
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                                                                          January 26, 2006
                                                                                      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 and a quarterly benchmark. This release includes revised
monthly and weekly seasonal factors, as well as comparisons of the revised monetary aggregates
with previously published data.  On balance, the revisions raised M2 and M3 growth rates in the
first half of 2005 and lowered them in the second half. 
        
        The benchmark incorporates minor revisions to data reported on the weekly and quarterly
deposit reports, and it takes account of deposit data from Call Reports for banks and thrift
institutions that are not weekly or quarterly deposit reporters.  These revisions to deposit
data start in 2002.  The benchmark also incorporates revisions to the retail and institutional
money market mutual fund components, including revisions to IRA and Keogh balances held at these
funds.  Money market mutual fund revisions begin in 1992. This release also incorporates the
receipt of historical information from other data sources. 

        Seasonally adjusted measures of the monetary aggregates and components incorporate
revised seasonal factors, which were derived from data through December 2005. Monthly seasonal
factors were estimated using the X-12-ARIMA procedure. The effects of both the benchmark and
seasonal factor revisions on M1, M2 and M3 growth rates are outlined in Appendix Tables 6-8.

        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 26, 2006
MONEY STOCK MEASURES
Billions of dollars     
DateM1(1)M2(2)M3(3)
Seasonally adjusted  
2004-Jan.           1306.0            6088.3             8931.9          
     Feb.           1319.9            6132.1             9002.0          
     Mar.           1329.6            6173.0             9082.4          
     Apr.           1339.4            6216.9             9151.4          
     May            1336.5            6280.6             9245.6          
     June           1341.2            6288.8             9277.6          
     July           1343.5            6295.4             9284.6          
     Aug.           1354.1            6317.3             9316.3          
     Sep.           1360.5            6346.9             9353.8          
     Oct.           1360.8            6369.2             9361.4          
     Nov.           1374.1            6404.0             9397.5          
     Dec.           1372.1            6422.1             9435.8          
                                                                         
2005-Jan.           1367.0            6436.4             9492.1          
     Feb.           1369.5            6455.7             9536.5          
     Mar.           1373.0            6475.8             9570.2          
     Apr.           1365.7            6482.7             9625.6          
     May            1370.7            6492.1             9669.6          
     June           1369.5            6518.3             9729.2          
     July           1362.5            6538.5             9766.0          
     Aug.           1370.4            6568.9             9868.8          
     Sep.           1367.4            6600.0             9955.7          
     Oct.           1369.2            6629.6            10037.7          
     Nov.           1370.0            6652.0            10088.3          
     Dec.           1368.9            6680.5            10169.3          
                                                                         
Not seasonally adjusted
2004-Jan.           1302.5            6070.8             8932.4          
     Feb.           1306.6            6101.3             8995.6          
     Mar.           1337.9            6180.8             9109.9          
     Apr.           1345.2            6252.4             9180.1          
     May            1333.6            6263.8             9238.1          
     June           1348.4            6288.1             9283.3          
     July           1338.8            6293.1             9259.0          
     Aug.           1352.4            6312.7             9301.9          
     Sep.           1349.7            6344.4             9335.8          
     Oct.           1351.2            6363.5             9331.0          
     Nov.           1370.8            6413.7             9398.4          
     Dec.           1401.3            6457.0             9485.0          
                                                                         
2005-Jan.           1362.6            6415.8             9484.2          
     Feb.           1355.3            6415.8             9516.7          
     Mar.           1382.1            6478.6             9589.7          
     Apr.           1371.6            6525.6             9665.3          
     May            1368.7            6470.8             9659.2          
     June           1377.3            6521.1             9738.1          
     July           1357.2            6541.6             9749.3          
     Aug.           1369.2            6564.4             9856.9          
     Sep.           1356.1            6597.3             9943.5          
     Oct.           1358.8            6623.3            10011.4          
     Nov.           1368.1            6665.2            10086.9          
     Dec.           1396.9            6718.1            10216.6          
                                                                         
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. 2005 TO Dec. 2005     0.4         4.9         8.6        
 6 Months from June 2005 TO Dec. 2005    -0.1         5.0         9.0        
12 Months from Dec. 2004 TO Dec. 2005    -0.2         4.0         7.8        
Thirteen weeks ending                                                                     
January 16, 2006                                                                          
from thirteen weeks ending:                                                               
Oct. 17, 2005 (13 weeks previous)         0.6         5.3         9.1        
July 18, 2005 (26 weeks previous)         0.3         5.2         9.1        
Jan. 17, 2005 (52 weeks previous)         0.1         4.1         7.6        
  
Footnotes to Table 1:
1. M1 consists of (1) currency outside the U.S. Treasury, Federal Reserve Banks, and the vaults of depository institutions;
(2) travelers checks of nonbank issuers; (3) demand deposits at commercial banks (excluding those amounts held by depository
institutions, the U.S. government, and foreign banks and official institutions) less cash items in the process of collection
and Federal Reserve float; and (4) other checkable deposits (OCDs), consisting of negotiable order of withdrawal (NOW)
and automatic transfer service (ATS) accounts at depository institutions, credit union share draft accounts, and demand deposits
at thrift institutions. Seasonally adjusted M1 is constructed by summing currency, travelers checks, demand deposits, and
OCDs, each seasonally adjusted separately.
 

2. M2 consists of M1 plus (1) savings deposits (including money market deposit accounts); (2) small-denomination time deposits (time
deposits in amounts of less than $100,000), less individual retirement account (IRA) and Keogh balances at depository
institutions; and (3) balances in retail money market mutual funds, less IRA and Keogh balances at money market mutual funds.
Seasonally adjusted M2 is constructed by summing savings deposits, small-denomination time deposits, and retail money funds,
each seasonally adjusted separately, and adding this result to seasonally adjusted M1.
 

3. M3 consists of M2 plus (1) balances in institutional money market mutual funds; (2) large-denomination time deposits (time deposits
in amounts of $100,000 or more); (3) repurchase agreement (RP) liabilities of depository institutions, in denominations of $100,000
or more, on U.S. government and federal agency securities; and (4) Eurodollars held by U.S. addressees at foreign branches of U.S.
banks worldwide and at all banking offices in the United Kingdom and Canada. Large-denomination time deposits, RPs, and
Eurodollars exclude those amounts held by depository institutions, the U.S. government, foreign banks and official institutions,
and money market mutual funds. Seasonally adjusted M3 is constructed by summing institutional money funds, large-denomination
time deposits, RPs, and Eurodollars, each 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 
 2005-Oct. 24             1368.2        1369.9        1375.7          6594.6        6626.6        6640.3          9936.7       10027.9       10061.9 
           31             1369.3        1367.8        1374.6          6600.5        6631.5        6636.5          9956.4       10042.7       10056.6 
                                                                                                                                                     
      Nov.  7             1369.3        1366.6        1358.8          6607.1        6636.4        6636.3          9974.3       10050.7       10044.8 
           14             1369.1        1368.1        1363.1          6613.6        6639.7        6645.7          9991.7       10059.3       10073.7 
           21             1369.2        1369.3        1380.7          6620.0        6645.8        6664.5         10008.4       10072.4       10114.5 
           28             1368.9        1370.1        1377.7          6626.2        6652.5        6663.5         10024.2       10088.1       10119.5 
                                                                                                                                                     
      Dec.  5             1369.3        1372.8        1369.7          6632.2        6658.4        6659.7         10038.0       10104.7       10111.0 
           12             1369.9        1372.9        1363.5          6638.7        6664.1        6668.5         10053.5       10120.5       10136.9 
           19             1370.1        1369.4        1366.7          6644.4        6667.2        6677.2         10069.8       10131.2       10157.4 
           26             1370.1        1369.3        1377.1          6650.2        6675.0        6694.7         10087.4       10153.8       10209.9 
                                                                                                                                                     
 2006-Jan.  2             1368.9        1368.5        1366.7          6657.0        6686.3        6704.6         10105.3       10183.9       10231.2 
            9p            1369.2        1369.5        1367.6          6666.7        6704.9        6743.2         10123.8       10212.7       10252.1 
           16p            1370.1        1370.1        1369.1          6674.9        6720.5        6739.3         10140.3       10236.8       10254.1 
                                                                                                                                                     
                                                                                                                                                     
Not seasonally adjusted                 
 2005-Oct. 24             1360.2        1356.1        1376.9          6590.6        6622.6        6602.0          9920.5       10001.3       10005.1 
           31             1361.7        1356.0        1406.4          6595.0        6621.0        6596.1          9938.4       10013.1       10001.0 
                                                                                                                                                     
      Nov.  7             1362.0        1358.3        1325.5          6601.4        6629.8        6665.1          9954.7       10024.6       10048.2 
           14             1360.8        1358.3        1324.4          6608.6        6634.3        6674.0          9972.8       10035.2       10086.5 
           21             1360.3        1358.4        1377.1          6617.2        6651.7        6671.6          9991.5       10060.8       10107.5 
           28             1361.0        1363.9        1428.5          6626.5        6665.7        6652.1         10009.6       10086.5       10103.7 
                                                                                                                                                     
      Dec.  5             1362.0        1374.8        1369.3          6633.4        6674.5        6700.4         10024.1       10109.4       10140.0 
           12             1364.0        1377.4        1334.7          6640.1        6682.8        6706.9         10041.6       10137.7       10199.4 
           19             1367.0        1379.8        1386.7          6648.5        6695.2        6721.2         10062.6       10164.9       10216.3 
           26             1371.9        1387.1        1457.5          6661.3        6712.1        6719.7         10089.6       10203.3       10257.5 
                                                                                                                                                     
 2006-Jan.  2             1375.7        1408.9        1456.7          6671.8        6721.5        6738.1         10112.4       10230.9       10250.2 
            9p            1378.2        1412.3        1348.1          6681.6        6734.3        6758.0         10132.1       10245.5       10258.1 
           16p            1380.2        1403.2        1350.3          6688.5        6740.2        6745.0         10150.0       10260.6       10276.5 
                                                                                                                                                     
                                                                                                                                                     
 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
DateCurrency(1)Travelers checks(2)Demand Deposits(3)At comm. banks(4)At thrift inst.(5)Total
 2004-Aug.                        686.5               7.6                 332.7               187.5               139.9               327.4  
      Sep.                        689.9               7.6                 338.3               186.8               137.9               324.7  
                                                                                                                                             
      Oct.                        692.9               7.6                 334.1               187.2               139.1               326.3  
      Nov.                        697.7               7.6                 340.0               188.4               140.4               328.7  
      Dec.                        697.3               7.6                 340.3               186.5               140.5               327.0  
                                                                                                                                             
                                                                                                                                             
 2005-Jan.                        699.0               7.5                 336.4               184.7               139.4               324.1  
      Feb.                        700.8               7.5                 338.6               183.3               139.3               322.6  
      Mar.                        702.9               7.5                 339.3               183.6               139.7               323.4  
                                                                                                                                             
      Apr.                        703.9               7.5                 331.0               183.8               139.6               323.3  
      May                         705.8               7.5                 332.8               184.5               140.2               324.7  
      June                        708.4               7.4                 334.2               182.4               137.1               319.6  
                                                                                                                                             
      July                        710.0               7.3                 327.4               181.2               136.6               317.8  
      Aug.                        712.8               7.4                 330.0               182.5               137.7               320.2  
      Sep.                        716.1               7.3                 324.2               181.1               138.7               319.8  
                                                                                                                                             
      Oct.                        717.4               7.3                 325.9               179.8               138.7               318.5  
      Nov.                        720.3               7.3                 323.4               180.4               138.7               319.0  
      Dec.                        723.8               7.3                 321.0               179.6               137.3               316.9  
                                                                                                                                             
                                                                                                                                             
                                                                                                                                             
Week Ending:                                                                             
 2005-Nov. 21                     721.3               7.3                 331.3               181.2               139.5               320.7  
           28                     721.7               7.3                 329.1               179.9               139.8               319.6  
                                                                                                                                             
      Dec.  5                     721.3               7.3                 322.5               181.1               137.5               318.7  
           12                     721.6               7.3                 317.6               180.6               136.4               317.0  
           19                     723.8               7.3                 320.2               178.1               137.3               315.4  
           26                     725.3               7.3                 327.8               178.6               138.2               316.9  
                                                                                                                                             
 2006-Jan.  2                     726.8               7.3                 315.6               180.2               136.8               317.0  
            9p                    727.1               7.3 e               313.3               184.0               136.0               320.0  
           16p                    729.3               7.2 e               313.4               181.7               137.4               319.1  
                                                                                                                                             
                                                                                                                                             
                                                                                                                                             
 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 Deposits(1)Small-denomination time deposit(2)  
DateAt comm.
banks
At thrift
insts.
Total At comm.
banks
At thrift
insts.
Total Retail
money
funds(3)
Total
Non-M1 M2
 2004-Aug.                  2543.5          887.0         3430.5          530.0          267.2          797.3          735.3         4963.1 
      Sep.                  2563.0          893.5         3456.5          533.6          267.6          801.2          728.7         4986.4 
                                                                                                                                            
      Oct.                  2593.4          889.2         3482.7          537.2          269.2          806.4          719.4         5008.4 
      Nov.                  2617.0          887.6         3504.5          541.4          269.7          811.1          714.2         5029.9 
      Dec.                  2632.2          887.8         3519.9          545.2          271.6          816.8          713.2         5049.9 
                                                                                                                                             
                                                                                                                                             
 2005-Jan.                  2640.2          888.3         3528.6          552.4          276.6          829.0          711.8         5069.4 
      Feb.                  2654.3          884.1         3538.4          559.9          281.2          841.1          706.7         5086.2 
      Mar.                  2665.0          878.5         3543.6          570.5          284.2          854.7          704.5         5102.8 
                                                                                                                                            
      Apr.                  2673.7          868.1         3541.7          579.1          290.3          869.4          705.9         5117.0 
      May                   2663.1          870.8         3533.9          589.8          296.1          885.9          701.6         5121.4 
      June                  2679.0          868.9         3548.0          599.9          300.7          900.7          700.2         5148.8 
                                                                                                                                            
      July                  2697.5          862.7         3560.2          609.9          304.9          914.9          700.9         5175.9 
      Aug.                  2703.7          865.7         3569.4          618.4          310.9          929.3          699.8         5198.5 
      Sep.                  2725.4          859.7         3585.1          626.9          315.5          942.5          705.1         5232.6 
                                                                                                                                            
      Oct.                  2739.4          857.9         3597.3          624.7          327.9          952.6          710.6         5260.4 
      Nov.                  2748.2          855.6         3603.8          630.1          333.9          963.9          714.2         5281.9 
      Dec.                  2769.7          850.8         3620.5          637.3          336.5          973.7          717.4         5311.6 
                                                                                                                                            
                                                                                                                                            
                                                                                                                                            
Week ending:                                                                       
 2005-Nov. 21               2747.3          856.8         3604.1          631.2          334.8          966.0          713.8         5283.8 
           28               2741.7          862.0         3603.7          632.8          335.9          968.6          713.5         5285.8 
                                                                                                                                            
      Dec.  5               2760.2          848.5         3608.7          634.1          335.9          970.0          711.3         5290.0 
           12               2772.8          847.6         3620.3          636.3          335.7          972.0          712.6         5305.0 
           19               2774.0          849.2         3623.2          637.5          336.5          974.0          713.3         5310.5 
           26               2763.8          855.2         3619.1          638.6          337.0          975.6          722.8         5317.5 
                                                                                                                                            
 2006-Jan.  2               2776.5          855.6         3632.1          639.8          337.6          977.5          728.4         5338.0 
            9p              2812.4          851.8         3664.3          642.4          338.8          981.2          730.1         5375.6 
           16p              2802.0          855.9         3657.9          644.8          340.0          984.7          727.6         5370.2 
                                                                                                                                            
                                                                                                                                            
                                                                                                                                            
 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 deposits(1)   
DateInstitutional
money
funds
At commercial
banks(2)
At thrift
institutions
TotalRPs(3)Eurodollars(4)Total
Non-M2 M3
  2004-Aug.        1105.9         881.3         143.3        1024.5        524.7        343.8        2999.0      
       Sep.        1094.6         883.9         147.7        1031.6        526.7        354.1        3006.9      
                                                                                                                 
       Oct.        1075.7         887.6         151.0        1038.6        510.2        367.6        2992.1      
       Nov.        1071.1         894.8         155.8        1050.6        501.0        370.8        2993.5      
       Dec.        1068.4         912.3         161.1        1073.3        492.6        379.4        3013.7      
                                                                                                                 
                                                                                                                 
  2005-Jan.        1062.5         960.1         167.3        1127.4        473.1        392.7        3055.7      
       Feb.        1054.1         968.8         173.2        1141.9        489.3        395.5        3080.8      
       Mar.        1049.3         974.0         179.1        1153.1        487.8        404.2        3094.5      
                                                                                                                 
       Apr.        1057.5        1008.4         188.3        1196.7        483.8        405.0        3142.9      
       May         1057.9        1016.3         192.4        1208.6        504.7        406.3        3177.5      
       June        1069.1        1037.1         198.4        1235.5        504.3        402.1        3210.9      
                                                                                                                 
       July        1078.6        1020.7         202.3        1223.0        517.6        408.4        3227.6      
       Aug.        1091.3        1057.0         208.7        1265.7        525.1        417.7        3299.9      
       Sep.        1107.4        1077.4         215.1        1292.5        534.2        421.6        3355.7      
                                                                                                                 
       Oct.        1119.3        1099.6         223.3        1322.9        545.0        421.0        3408.1      
       Nov.        1120.6        1106.2         229.4        1335.6        554.3        425.9        3436.3      
       Dec.        1136.2        1129.2         230.2        1359.4        563.0        430.2        3488.8      
                                                                                                                 
                                                                                                                 
                                                                                                                 
Week ending:                                        
  2005-Nov. 21     1124.8        1106.0         230.5        1336.5        561.7        427.0        3450.0      
            28     1121.8        1107.9         230.5        1338.5        567.8        428.0        3456.0      
                                                                                                                 
       Dec.  5     1118.1        1114.1         230.0        1344.1        558.7        430.4        3451.3      
            12     1130.2        1122.6         229.0        1351.6        555.2        431.4        3468.4      
            19     1130.3        1120.5         228.3        1348.8        569.4        431.7        3480.2      
            26     1141.3        1145.4         230.6        1376.0        565.6        432.4        3515.3      
                                                                                                                 
  2006-Jan.  2     1163.9        1139.5         234.6        1374.1        565.5        423.0        3526.5      
             9p    1162.9        1145.1         234.3        1379.4        541.5        425.1        3508.9      
            16p    1152.2        1165.1         233.9        1398.9        543.2        420.5        3514.8      
                                                                                                                 
                                                                                                                 
                                                                                                                 
 1. Large-denomination time deposits are those issued in amounts of $100,000 or more, excluding those booked at international banking facilities.
2. Large-denomination time deposits at domestically chartered commercial banks, U.S. branches and agencies of foreign banks, and Edge Act
corporations, excluding those amounts held by depository institutions, the U.S. government, foreign banks and official institutions, and
money market mutual funds.
3. RP liabilities of depository institutions, in denominations of $100,000 or more, on U.S. government and federal agency securities, excluding
those amounts held by depository institutions, the U.S. government, foreign banks and official institutions, and money market mutual funds.
4. Eurodollars held by U.S. addressees at foreign branches of U.S. banks worldwide and at all banking offices in the United Kingdom and Canada,
excluding those amounts held by depository institutions, the U.S. government, foreign banks and official institutions, and money market
mutual funds.
p -- indicates preliminary data e -- indicates estimated data
1



H.6 (508)
Table 7
NOT SEASONALLY ADJUSTED COMPONENTS OF M1
    Other Checkable Deposits
DateCurrency(1)Travelers checks(2)Demand Deposits(3)At comm. banks(4)At thrift inst.(5)Total
 2004-Aug.                       686.0               7.7                 332.2               185.4               140.9               326.4  
      Sep.                       687.9               7.6                 333.8               183.1               137.4               320.4  
                                                                                                                                            
      Oct.                       691.7               7.5                 330.5               183.7               137.7               321.4  
      Nov.                       697.4               7.5                 340.6               185.4               139.8               325.3  
      Dec.                       702.4               7.5                 358.8               191.7               140.9               332.7  
                                                                                                                                            
                                                                                                                                            
 2005-Jan.                       697.3               7.5                 331.9               190.0               136.0               326.0  
      Feb.                       700.7               7.5                 331.0               181.1               135.2               316.2  
      Mar.                       702.6               7.4                 345.3               186.6               140.1               326.7  
                                                                                                                                            
      Apr.                       704.0               7.4                 328.6               188.0               143.6               331.6  
      May                        705.3               7.4                 331.3               184.0               140.7               324.7  
      June                       708.5               7.4                 339.8               182.6               139.1               321.6  
                                                                                                                                            
      July                       711.5               7.5                 322.1               177.9               138.3               316.1  
      Aug.                       712.3               7.5                 329.8               181.1               138.5               319.6  
      Sep.                       714.3               7.4                 319.2               177.6               137.6               315.2  
                                                                                                                                            
      Oct.                       715.7               7.2                 321.9               176.1               137.8               313.9  
      Nov.                       720.5               7.1                 324.1               177.8               138.6               316.3  
      Dec.                       729.3               7.2                 338.2               184.6               137.7               322.3  
                                                                                                                                            
                                                                                                                                            
                                                                                                                                            
Week Ending:                                                                            
 2005-Nov. 21                    720.4               7.1                 332.1               179.5               137.9               317.4  
           28                    723.5               7.1                 371.8               185.1               141.0               326.1  
                                                                                                                                            
      Dec.  5                    722.3               7.1                 318.5               180.9               140.5               321.4  
           12                    724.5               7.1                 293.1               175.9               134.1               310.0  
           19                    728.6               7.2                 334.7               180.9               135.3               316.2  
           26                    736.6               7.2                 382.8               192.0               139.1               331.0  
                                                                                                                                            
 2006-Jan.  2                    732.7               7.2                 376.2               196.5               144.0               340.5  
            9p                   728.3               7.2 e               293.3               184.0               135.4               319.4  
           16p                   727.1               7.2 e               301.7               182.1               132.1               314.2  
                                                                                                                                            
                                                                                                                                            
                                                                                                                                            
 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 Deposits(1)Small-denomination time deposit(2)  
DateAt comm.
banks
At thrift
insts.
Total At comm.
banks
At thrift
insts.
Total Retail
money
funds(3)
Total
Non-M1 M2
 2004-Aug.                  2542.2          886.5         3428.7          530.3          267.4          797.7          733.9         4960.3  
      Sep.                  2571.4          896.4         3467.9          533.8          267.6          801.5          725.4         4994.7  
                                                                                                                                             
      Oct.                  2598.5          891.0         3489.4          537.1          269.1          806.2          716.6         5012.3  
      Nov.                  2626.5          890.8         3517.3          541.3          269.7          810.9          714.6         5042.9  
      Dec.                  2633.4          888.2         3521.6          544.8          271.4          816.3          717.8         5055.6  
                                                                                                                                             
                                                                                                                                             
 2005-Jan.                  2625.0          883.2         3508.2          551.9          276.3          828.3          716.8         5053.2  
      Feb.                  2631.7          876.6         3508.3          559.6          281.1          840.7          711.5         5060.4  
      Mar.                  2656.7          875.8         3532.5          570.4          284.2          854.6          709.4         5096.5  
                                                                                                                                             
      Apr.                  2699.4          876.4         3575.8          579.3          290.5          869.8          708.4         5154.0  
      May                   2651.7          867.0         3518.7          590.2          296.2          886.4          697.0         5102.1  
      June                  2678.6          868.8         3547.4          600.3          300.9          901.2          695.2         5143.8  
                                                                                                                                             
      July                  2707.2          865.8         3573.0          610.3          305.1          915.4          696.0         5184.4  
      Aug.                  2702.2          865.2         3567.4          618.9          311.2          930.0          697.9         5195.3  
      Sep.                  2733.8          862.4         3596.2          627.1          315.6          942.8          702.3         5241.2  
                                                                                                                                             
      Oct.                  2744.7          859.6         3604.3          624.5          327.7          952.2          708.0         5264.5  
      Nov.                  2759.9          859.3         3619.2          629.6          333.6          963.3          714.7         5297.2  
      Dec.                  2774.0          852.1         3626.1          636.7          336.1          972.8          722.3         5321.2  
                                                                                                                                             
                                                                                                                                             
                                                                                                                                             
Week ending:                                                                        
 2005-Nov. 21               2755.9          859.4         3615.3          629.8          334.1          963.9          715.4         5294.5  
           28               2693.1          846.7         3539.8          631.6          335.2          966.8          717.0         5223.7  
                                                                                                                                             
      Dec.  5               2790.0          857.7         3647.7          633.5          335.6          969.0          714.5         5331.1  
           12               2818.7          861.6         3680.3          635.9          335.4          971.3          720.5         5372.1  
           19               2788.0          853.4         3641.4          636.8          336.1          972.9          720.2         5334.5  
           26               2718.9          841.3         3560.3          637.8          336.6          974.4          727.4         5262.1  
                                                                                                                                             
 2006-Jan.  2               2733.8          842.5         3576.3          639.3          337.4          976.7          728.4         5281.4  
            9p              2836.9          859.2         3696.2          641.9          338.5          980.4          733.3         5409.9  
           16p              2815.9          860.2         3676.1          644.2          339.7          983.8          734.8         5394.7  
                                                                                                                                             
                                                                                                                                             
                                                                                                                                             
 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 deposits(1)RPs(3)  
DateInstitutional
money
funds
At commercial
banks(2)
At thrift
institutions
TotalAt commercial
banks
At thrift
institutions
TotalEurodollars(4)Total
Non-M2 M3
 2004-Aug.         1102.8        883.7         143.6       1027.3        464.4        56.7        521.1       338.0       2989.2      
      Sep.         1088.6        885.4         148.0       1033.3        463.1        57.5        520.5       348.9       2991.3      
                                                                                                                                      
      Oct.         1067.0        885.3         150.6       1035.9        441.1        57.3        498.4       366.3       2967.5      
      Nov.         1075.9        885.9         154.3       1040.2        445.1        53.5        498.6       370.0       2984.7      
      Dec.         1090.2        906.2         160.0       1066.2        438.5        56.1        494.6       376.9       3028.0      
                                                                                                                                      
                                                                                                                                      
 2005-Jan.         1087.1        950.6         165.7       1116.3        409.6        57.8        467.5       397.5       3068.3      
      Feb.         1067.3        961.5         171.9       1133.3        440.1        57.9        498.0       402.4       3100.9      
      Mar.         1052.2        972.1         178.7       1150.8        440.2        54.7        494.8       413.2       3111.0      
                                                                                                                                      
      Apr.         1046.6       1013.9         189.3       1203.3        421.8        54.5        476.3       413.5       3139.7      
      May          1039.2       1028.5         194.7       1223.2        459.0        55.7        514.7       411.3       3188.4      
      June         1059.9       1046.5         200.2       1246.7        464.1        53.0        517.0       393.3       3217.0      
                                                                                                                                      
      July         1067.1       1027.4         203.6       1231.0        459.2        52.2        511.3       398.2       3207.7      
      Aug.         1089.0       1060.6         209.4       1270.0        471.4        50.5        521.9       411.5       3292.4      
      Sep.         1104.7       1079.2         215.5       1294.7        480.6        49.6        530.2       416.6       3346.2      
                                                                                                                                      
      Oct.         1113.2       1096.7         222.7       1319.5        484.2        50.7        534.9       420.6       3388.1      
      Nov.         1122.6       1094.9         227.1       1322.0        499.5        52.5        552.0       425.1       3421.7      
      Dec.         1156.2       1120.7         228.5       1349.2        512.0        52.8        564.8       428.3       3498.5      
                                                                                                                                      
                                                                                                                                      
                                                                                                                                      
Week ending:                                                              
 2005-Nov. 21      1131.7       1093.0         227.8       1320.7        504.9        53.1        558.0       425.4       3435.8      
           28      1133.6       1092.6         227.4       1320.0        515.2        52.7        568.0       429.9       3451.5      
                                                                                                                                      
      Dec.  5      1123.7       1101.3         227.3       1328.6        507.5        52.7        560.1       427.2       3439.6      
           12      1159.2       1115.9         227.6       1343.5        509.2        52.2        561.5       428.4       3492.5      
           19      1153.8       1114.7         227.1       1341.8        519.2        53.3        572.4       427.1       3495.2      
           26      1163.0       1140.6         229.6       1370.3        519.9        53.4        573.3       431.3       3537.9      
                                                                                                                                      
 2006-Jan.  2      1178.5       1123.7         231.4       1355.1        499.6        52.1        551.8       426.7       3512.1      
            9p     1177.4       1137.7         232.7       1370.4        469.6        52.8        522.4       429.8       3500.1      
           16p     1179.1       1160.5         233.0       1393.4        481.3        52.7        534.1       424.9       3531.5      
                                                                                                                                      
                                                                                                                                      
                                                                                                                                      
 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
institutions(1)
Total
cash
balance
Time and
savings
deposits at
commercial
banks
At commercial
banks
At thrift
institutions
At money
market funds
Total
 2004-Aug.                7.4          1.1         17.7            1.4          4.8          3.1          9.2        2.2        168.6         101.7         152.8         423.1  
      Sep.                7.3          1.1         18.9            1.7          5.6         16.7         24.0        2.2        168.6         101.7         151.9         422.1  
                                                                                                                                                                                 
      Oct.                7.3          1.2         19.6            1.5          5.0         20.3         26.9        2.3        168.4         101.6         150.8         420.8  
      Nov.                7.4          1.3         19.8            1.5          4.9         12.7         19.1        2.3        168.3         101.5         149.4         419.1  
      Dec.                7.4          1.5         20.1            1.5          5.1         15.8         22.4        2.4        168.1         101.4         148.0         417.4  
                                                                                                                                                                                 
                                                                                                                                                                                 
 2005-Jan.                7.4          1.5         20.0            1.8          5.1         23.0         29.9        2.4        168.2         101.3         147.5         416.9  
      Feb.                7.3          1.4         19.6            1.5          5.2         14.3         20.9        2.4        168.5         101.3         147.8         417.6  
      Mar.                7.3          1.3         19.2            1.4          4.7         21.1         27.3        2.4        168.8         101.3         148.2         418.3  
                                                                                                                                                                                 
      Apr.                7.2          1.3         19.6            3.4          5.2         26.5         35.1        2.3        169.1         101.5         148.3         418.9  
      May                 7.1          1.3         20.9            1.6          5.1         29.3         36.0        2.1        169.2         101.9         148.2         419.3  
      June                7.0          1.3         22.2            1.8          5.0         24.6         31.4        1.8        169.3         102.3         148.1         419.7  
                                                                                                                                                                                 
      July                7.0          1.2         23.0            1.4          4.8         13.7         20.0        1.8        169.5         102.6         148.4 e       420.6 e
      Aug.                7.1          1.1         23.5            1.4          5.0          7.5         13.9        1.9        169.9         102.9         149.2 e       422.0 e
      Sep.                7.1          1.0         24.0            1.5          5.3         28.3         35.1        2.0        170.2         103.2         149.9 e       423.4 e
                                                                                                                                                                                 
      Oct.                7.2 e        1.0 e       24.2 e          1.5          4.9         18.7         25.1        2.1 e      170.4 e       103.4 e       150.2 e       424.0 e
      Nov.                7.2 e        0.9 e       24.2 e          1.3          4.9          8.9         15.2        2.1 e      170.4 e       103.4 e       150.2 e       424.1 e
      Dec.                7.2 e        1.0 e       24.2 e          1.6          5.1         23.0         29.8        2.1 e      170.4 e       103.5 e       150.2 e       424.1 e
                                                                                                                                                                                 
                                                                                                                                                                                 
                                                                                                                                                                                 
 2005-Nov. 21                                                      1.4          4.9          8.9         15.3                                                                    
           28                                                      1.3          5.1          5.2         11.6                                                                    
                                                                                                                                                                                 
      Dec.  5                                                      1.3          4.8          6.4         12.6                                                                    
           12                                                      1.3          5.4          4.4         11.1                                                                    
           19                                                      1.9          5.1         28.6         35.6                                                                    
           26                                                      1.6          5.0         38.1         44.8                                                                    
                                                                                                                                                                                 
 2006-Jan.  2                                                      2.0          4.9         34.7         41.5                                                                    
            9p                                                     1.9          4.7         11.0         17.7                                                                    
           16p                                                     1.7          4.8          4.6         11.1                                                                    
                                                                                                                                                                                 
                                                                                                                                                                                 
                                                                                                                                                                                 
 1. Source: Daily Treasury statement.
e -- indicates estimated data     p -- indicates preliminary data
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