Federal Reserve Statistical Release, H.6, Money Stock Measures; title with eagle logo links to Statistical Release home page
Release Date: April 22, 2004
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 FEDERAL RESERVE STATISTICAL RELEASE
 
H.6 (508)
Table 1 These data are scheduled for release each Thursday at 4:30 p.m.
April 22, 2004
MONEY STOCK MEASURES
Billions of dollars     
DateM11M22M33
Seasonally adjusted  
2002-Apr.           1177.5            5527.6            8119.3           
     May            1182.0            5558.6            8155.4           
     June           1186.3            5580.6            8166.6           
     July           1192.6            5623.0            8208.5           
     Aug.           1181.1            5658.3            8271.6           
     Sep.           1188.7            5684.9            8308.0           
     Oct.           1200.0            5730.7            8335.9           
     Nov.           1202.6            5777.2            8467.5           
     Dec.           1215.0            5805.8            8540.6           
                                                                         
2003-Jan.           1218.4            5838.2            8550.6           
     Feb.           1232.9            5881.0            8587.8           
     Mar.           1238.2            5906.4            8619.4           
     Apr.           1243.4            5949.7            8655.9           
     May            1255.5            5998.5            8711.3           
     June           1268.7            6035.7            8761.5           
     July           1273.3            6079.5            8837.9           
     Aug.           1282.3            6118.2            8876.2           
     Sep.           1282.4            6096.4            8865.3           
     Oct.           1284.7            6080.4            8836.3           
     Nov.           1283.8            6076.1            8823.9           
     Dec.           1293.0            6071.0            8819.4           
                                                                         
2004-Jan.           1287.1            6076.2            8872.9           
     Feb.           1312.0            6129.1            8939.5           
     Mar. p         1331.4            6174.2            9009.1           
Not seasonally adjusted
2002-Apr.           1187.9            5559.5            8144.2           
     May            1177.5            5528.3            8131.0           
     June           1186.5            5566.3            8154.9           
     July           1193.4            5609.2            8174.5           
     Aug.           1176.6            5653.5            8243.0           
     Sep.           1181.3            5679.3            8261.4           
     Oct.           1192.4            5718.5            8291.3           
     Nov.           1200.8            5794.0            8486.9           
     Dec.           1240.3            5844.2            8604.5           
                                                                         
2003-Jan.           1220.0            5832.6            8568.5           
     Feb.           1219.4            5859.0            8600.9           
     Mar.           1238.2            5921.4            8659.6           
     Apr.           1253.1            5978.8            8677.8           
     May            1251.6            5966.4            8686.7           
     June           1269.3            6019.0            8751.7           
     July           1274.2            6066.7            8808.7           
     Aug.           1279.8            6123.3            8859.2           
     Sep.           1275.1            6095.7            8827.9           
     Oct.           1276.5            6074.9            8802.9           
     Nov.           1281.1            6097.4            8847.5           
     Dec.           1318.7            6111.1            8877.6           
                                                                         
2004-Jan.           1288.4            6067.2            8878.8           
     Feb.           1298.3            6099.3            8938.4           
     Mar. p         1329.9            6175.7            9033.4           
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 Dec. 2003 TO Mar. 2004    11.9         6.8         8.6        
 6 Months from Sep. 2003 TO Mar. 2004     7.6         2.6         3.2        
12 Months from Mar. 2003 TO Mar. 2004     7.5         4.5         4.5        
Thirteen weeks ending                                                                     
April 12 , 2004                                                                           
from thirteen weeks ending:                                                               
Jan. 12, 2004 (13 weeks previous)         8.6         4.7         6.3        
Oct. 13, 2003 (26 weeks previous)         5.3         1.5         2.5        
Apr. 14, 2003 (52 weeks previous)         6.6         4.3         4.2        
  
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
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 
 2004-Jan. 19             1287.4        1288.3        1289.2          6073.6        6069.1        6078.3          8830.2        8846.0        8870.6 
           26             1287.8        1286.8        1293.3          6073.8        6073.1        6086.2          8835.2        8865.4        8901.7 
                                                                                                                                                     
      Feb.  2             1288.0        1287.0        1293.8          6075.0        6081.2        6094.3          8839.0        8879.8        8891.6 
            9             1288.6        1291.9        1291.2          6076.7        6089.6        6099.4          8845.0        8892.0        8904.2 
           16             1291.3        1298.6        1316.2          6080.6        6102.8        6131.2          8854.4        8910.1        8942.7 
           23             1294.2        1306.3        1324.0          6085.8        6117.5        6145.0          8864.9        8924.4        8959.1 
                                                                                                                                                     
      Mar.  1             1297.5        1313.8        1323.8          6092.4        6132.0        6152.5          8877.2        8944.2        8970.8 
            8             1298.8        1316.8        1303.2          6097.7        6142.9        6142.8          8888.4        8958.6        8961.7 
           15             1301.0        1317.8        1320.0          6104.9        6150.6        6162.0          8903.2        8973.5        9002.3 
           22             1304.7        1322.5        1343.0          6113.3        6160.1        6183.2          8917.8        8987.0        9013.0 
           29             1308.8        1329.7        1352.6          6122.9        6170.9        6195.5          8935.6        9008.1        9055.3 
                                                                                                                                                     
      Apr.  5p            1311.4        1335.4        1325.9          6133.3        6184.2        6195.9          8951.8        9029.0        9045.2 
           12p            1314.9        1334.7        1317.1          6144.5        6196.7        6212.2          8967.6        9043.5        9060.4 
                                                                                                                                                     
                                                                                                                                                     
Not seasonally adjusted                 
 2004-Jan. 19             1297.0        1309.5        1279.9          6094.9        6095.7        6069.3          8859.8        8882.6        8889.3 
           26             1296.5        1289.8        1293.1          6093.3        6076.4        6016.7          8865.5        8880.2        8853.5 
                                                                                                                                                     
      Feb.  2             1295.8        1284.8        1308.4          6091.2        6055.2        6043.4          8869.6        8876.6        8865.2 
            9             1297.1        1287.6        1269.0          6089.9        6053.7        6085.3          8875.4        8882.1        8920.3 
           16             1299.7        1291.4        1294.9          6089.3        6064.7        6113.2          8882.4        8899.8        8960.1 
           23             1301.4        1294.7        1306.4          6091.4        6083.6        6092.4          8890.6        8920.6        8936.7 
                                                                                                                                                     
      Mar.  1             1302.0        1298.6        1324.2          6092.8        6103.4        6122.6          8898.5        8943.3        8956.2 
            8             1303.2        1302.8        1285.8          6096.1        6122.5        6161.8          8908.0        8963.4        9000.4 
           15             1304.4        1305.4        1305.3          6100.8        6139.7        6181.9          8919.2        8985.5        9048.7 
           22             1305.0        1314.0        1340.6          6105.9        6160.8        6176.7          8931.0        9009.2        9031.4 
           29             1305.3        1326.7        1375.2          6112.0        6173.4        6173.3          8945.6        9033.4        9053.2 
                                                                                                                                                     
      Apr.  5p            1305.8        1338.9        1334.3          6121.7        6196.7        6254.8          8962.4        9057.7        9097.5 
           12p            1309.6        1339.4        1307.6          6135.9        6220.0        6275.0          8979.7        9076.4        9123.3 
                                                                                                                                                     
                                                                                                                                                     
 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
 2002-Nov.                        623.8               7.8                 294.7               152.3               124.1               276.4  
      Dec.                        627.4               7.8                 301.2               153.2               125.4               278.6  
                                                                                                                                             
                                                                                                                                             
 2003-Jan.                        630.9               7.8                 299.9               153.8               126.1               279.9  
      Feb.                        635.4               7.8                 306.1               156.0               127.6               283.6  
      Mar.                        639.1               7.7                 305.4               157.7               128.3               286.0  
                                                                                                                                             
      Apr.                        642.0               7.7                 307.4               156.5               129.9               286.4  
      May                         644.6               7.6                 312.2               159.7               131.5               291.1  
      June                        646.4               7.6                 319.4               163.1               132.2               295.3  
                                                                                                                                             
      July                        648.0               7.6                 318.6               164.7               134.4               299.2  
      Aug.                        650.8               7.6                 321.3               166.7               135.9               302.6  
      Sep.                        654.2               7.6                 313.9               169.5               137.3               306.7  
                                                                                                                                             
      Oct.                        658.3               7.7                 312.1               169.4               137.2               306.5  
      Nov.                        661.3               7.7                 308.4               170.8               135.6               306.4  
      Dec.                        663.9               7.7                 311.7               173.7               136.1               309.8  
                                                                                                                                             
                                                                                                                                             
 2004-Jan.                        664.8               7.8                 301.2               176.6               136.7               313.3  
      Feb.                        665.7               7.8                 319.2               181.2               138.0               319.2  
      Mar. p                      666.6               7.8                 332.3               185.2               139.4               324.6  
                                                                                                                                             
                                                                                                                                             
Week Ending:                                                                             
 2004-Feb. 16                     665.9               7.8                 322.0               182.3               138.2               320.5  
           23                     665.8               7.8                 327.9               184.7               137.8               322.4  
                                                                                                                                             
      Mar.  1                     666.0               7.9                 328.9               181.8               139.3               321.1  
            8                     665.9               7.8                 307.9               181.8               139.7               321.6  
           15                     666.2               7.8                 323.6               185.4               137.0               322.4  
           22                     667.0               7.8                 343.2               186.5               138.5               325.0  
           29                     667.4               7.8                 349.3               187.1               141.0               328.1  
                                                                                                                                             
      Apr.  5p                    667.1               7.8                 327.6               181.2               142.1               323.3  
           12p                    668.6               7.8 e               319.8               181.7               139.1               320.9  
                                                                                                                                             
                                                                                                                                             
                                                                                                                                             
 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
funds3
Total
Non-M1 M2
 2002-Nov.                  2041.3          701.4         2742.7          595.5          303.3          898.8          933.1         4574.6 
      Dec.                  2053.2          716.2         2769.5          591.3          302.3          893.6          927.7         4590.8 
                                                                                                                                            
                                                                                                                                            
 2003-Jan.                  2085.5          728.8         2814.3          587.4          300.7          888.1          917.4         4619.8 
      Feb.                  2110.3          744.0         2854.3          583.8          298.1          881.9          912.0         4648.1 
      Mar.                  2126.8          759.2         2886.0          580.2           296.4          876.6          905.6         4668.2 
                                                                                                                                             
      Apr.                  2162.0          773.0         2935.0          576.1          294.5          870.6          900.7         4706.4 
      May                   2189.9          793.9         2983.8          571.2          291.5          862.7          896.5         4743.0 
      June                  2221.6          799.9         3021.5          566.0          288.3          854.3          891.2         4767.1 
                                                                                                                                            
      July                  2269.6          812.6         3082.2          557.7          285.4          843.1          880.9         4806.2 
      Aug.                  2302.5          826.2         3128.7          550.8          282.1          832.8          874.3         4835.8 
      Sep.                  2291.4          834.2         3125.6          545.4          279.7          825.1          863.2         4814.0 
                                                                                                                                            
      Oct.                  2301.2          840.1         3141.3          541.6          277.3          818.9          835.5         4795.7 
      Nov.                  2321.9          834.7         3156.6          537.9          274.7          812.6          823.1         4792.3 
      Dec.                  2328.2          830.9         3159.0          536.2          272.5          808.6          810.3         4777.9 
                                                                                                                                            
                                                                                                                                            
 2004-Jan.                  2363.2          827.4         3190.6          534.4          271.0          805.5          793.1         4789.1 
      Feb.                  2396.4          837.9         3234.4          532.8          270.2          803.1          779.7         4817.1 
      Mar. p                2423.5          854.7         3278.3          530.5          269.6          800.2          764.3         4842.7 
                                                                                                                                            
                                                                                                                                            
Week ending:                                                                       
 2004-Feb. 16               2395.1          837.4         3232.5          533.1          270.2          803.2          779.4         4815.1 
           23               2400.1          840.4         3240.5          532.4          270.1          802.5          777.9         4821.0 
                                                                                                                                            
      Mar.  1               2408.9          843.6         3252.5          531.6          270.0          801.7          774.5         4828.6 
            8               2429.0          844.3         3273.3          531.3          269.7          801.1          765.3         4839.7 
           15               2426.3          852.2         3278.5          530.9          269.8          800.6          762.9         4842.0 
           22               2417.5          857.7         3275.2          530.4          269.4          799.9          765.1         4840.1 
           29               2415.0          863.9         3278.9          529.9          269.5          799.4          764.7         4842.9 
                                                                                                                                            
      Apr.  5p              2459.0          855.7         3314.7          528.7          269.6          798.3          757.1         4870.1 
           12p              2482.1          860.7         3342.7          528.2          269.2          797.4          754.9         4895.0 
                                                                                                                                            
                                                                                                                                            
                                                                                                                                            
 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 thrifts are subtracted from small time deposits.
3. IRA and Keogh account balances at money market mutual funds are substracted from retail money funds.
 

p -- indicates preliminary data.



H.6 (508)
Table 6
SEASONALLY ADJUSTED COMPONENTS OF NON-M2 M3
Billions of dollars
  Large-denomination time deposits1   
DateInstitutional
money
funds
At commercial
banks2
At thrift
institutions
TotalRPs3Eurodollars4Total
Non-M2 M3
  2002-Nov.        1202.4         700.8         116.4         817.1        445.0        225.8        2690.3      
       Dec.        1231.8         676.6         117.2         793.8        480.9        228.3        2734.8      
                                                                                                                 
                                                                                                                 
  2003-Jan.        1205.3         682.0         118.5         800.5        472.6        234.0        2712.4      
       Feb.        1189.5         677.9         118.2         796.2        485.4        235.7        2706.7      
       Mar.        1175.5         682.7         117.3         800.1        497.4        239.9        2712.9      
                                                                                                                 
       Apr.        1157.2         682.9         117.6         800.5        501.6        246.8        2706.2      
       May         1137.7         688.8         116.9         805.7        511.3        258.2        2712.8      
       June        1141.5         689.2         118.1         807.3        517.2        259.7        2725.7      
                                                                                                                 
       July        1178.5         694.2         121.1         815.3        497.0        267.6        2758.4      
       Aug.        1162.2         701.8         122.6         824.4        494.4        277.0        2758.1      
       Sep.        1162.4         710.3         122.2         832.4        496.8        277.4        2769.0      
                                                                                                                 
       Oct.        1140.8         706.2         121.7         827.9        504.3        282.9        2756.0      
       Nov.        1117.9         715.6         120.8         836.4        511.3        282.2        2747.8      
       Dec.        1098.8         739.1         119.9         858.9        505.3        285.4        2748.5      
                                                                                                                 
                                                                                                                 
  2004-Jan.        1101.7         778.9         120.6         899.5        502.1        293.4        2796.7      
       Feb.        1089.6         786.4         121.2         907.5        521.0        292.2        2810.4      
       Mar. p      1098.1         803.5         123.9         927.4        521.3        288.2        2835.0      
                                                                                                                 
                                                                                                                 
Week ending:                                        
  2004-Feb. 16     1085.9         781.1         120.4         901.5        531.4        292.6        2811.4      
            23     1092.8         790.0         121.3         911.3        518.6        291.4        2814.1      
                                                                                                                 
       Mar.  1     1097.8         790.4         122.8         913.1        518.7        288.7        2818.3      
             8     1097.0         796.9         122.8         919.7        507.9        294.2        2818.8      
            15     1099.0         804.6         123.9         928.4        522.8        290.0        2840.3      
            22     1093.2         800.9         124.4         925.3        528.2        283.1        2829.8      
            29     1109.4         809.1         124.4         933.4        531.5        285.4        2859.7      
                                                                                                                 
       Apr.  5p    1106.7         823.1         125.4         948.5        504.1        290.0        2849.2      
            12p    1108.5         828.4         126.6         955.0        492.3        292.5        2848.3      
                                                                                                                 
                                                                                                                 
                                                                                                                 
 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
 2002-Nov.                       623.1               7.6                 296.6               149.4               124.0               273.5  
      Dec.                       630.5               7.7                 317.5               158.4               126.2               284.6  
                                                                                                                                            
                                                                                                                                            
 2003-Jan.                       628.9               7.7                 300.5               159.8               123.2               283.0  
      Feb.                       635.2               7.7                 297.6               154.7               124.2               278.9  
      Mar.                       639.9               7.7                 303.0               158.7               128.9               287.6  
                                                                                                                                            
      Apr.                       643.4               7.5                 307.7               160.5               133.9               294.4  
      May                        646.5               7.5                 307.8               157.5               132.2               289.7  
      June                       647.7               7.7                 318.6               161.9               133.4               295.2  
                                                                                                                                            
      July                       648.7               7.8                 319.7               163.0               134.9               297.9  
      Aug.                       650.4               7.8                 321.4               163.5               136.7               300.2  
      Sep.                       650.9               7.7                 312.4               167.1               137.0               304.1  
                                                                                                                                            
      Oct.                       655.7               7.6                 309.9               167.5               135.7               303.2  
      Nov.                       660.2               7.6                 310.2               167.1               136.1               303.2  
      Dec.                       667.0               7.6                 327.5               180.3               136.3               316.6  
                                                                                                                                            
                                                                                                                                            
 2004-Jan.                       662.7               7.7                 301.7               183.4               133.0               316.3  
      Feb.                       665.9               7.8                 310.8               179.7               134.1               313.8  
      Mar. p                     667.4               7.8                 328.5               186.5               139.7               326.3  
                                                                                                                                            
                                                                                                                                            
Week Ending:                                                                            
 2004-Feb. 16                    667.4               7.8                 310.7               176.8               132.2               309.0  
           23                    665.4               7.8                 317.6               182.7               132.9               315.6  
                                                                                                                                            
      Mar.  1                    665.3               7.8                 329.2               184.3               137.6               321.9  
            8                    667.8               7.8                 291.1               180.1               139.0               319.1  
           15                    667.1               7.8                 312.5               181.5               136.4               317.9  
           22                    667.7               7.8                 338.7               187.7               138.6               326.4  
           29                    667.3               7.7                 363.4               194.6               142.1               336.7  
                                                                                                                                            
      Apr.  5p                   669.9               7.7                 324.1               186.5               146.1               332.6  
           12p                   671.4               7.7 e               305.8               180.6               142.1               322.8  
                                                                                                                                            
                                                                                                                                            
                                                                                                                                            
 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
funds3
Total
Non-M1 M2
 2002-Nov.                  2055.1          706.2         2761.3          596.4          303.8          900.2          931.6         4593.2  
      Dec.                  2060.9          718.9         2779.8          591.7          302.5          894.2          930.0         4603.9  
                                                                                                                                             
                                                                                                                                             
 2003-Jan.                  2075.8          725.3         2801.1          587.7          300.8          888.5          923.0         4612.6  
      Feb.                  2097.4          739.4         2836.8          583.8          298.1          881.9          920.9         4639.6  
      Mar.                  2127.2          759.3         2886.5          579.8          296.2          876.0          920.6         4683.2  
                                                                                                                                             
      Apr.                  2171.3          776.3         2947.6          575.8          294.3          870.1          908.0         4725.7  
      May                   2177.7          789.5         2967.1          571.1          291.4          862.6          885.1         4714.8  
      June                  2217.7          798.5         3016.2          565.9          288.2          854.1          879.5         4749.7  
                                                                                                                                             
      July                  2264.5          810.7         3075.2          557.5          285.3          842.8          874.6         4792.5  
      Aug.                  2308.4          828.3         3136.7          550.7          282.0          832.7          874.2         4843.5  
      Sep.                  2299.0          837.0         3136.0          545.3          279.7          825.0          859.7         4820.7  
                                                                                                                                             
      Oct.                  2303.5          840.9         3144.4          541.7          277.3          819.0          834.9         4798.4  
      Nov.                  2339.0          840.8         3179.9          538.3          275.0          813.3          823.0         4816.2  
      Dec.                  2337.7          834.3         3172.0          536.2          272.5          808.7          811.7         4792.5  
                                                                                                                                             
                                                                                                                                             
 2004-Jan.                  2353.0          823.9         3176.9          534.5          271.0          805.5          796.3         4778.8  
      Feb.                  2380.1          832.2         3212.3          532.7          270.2          802.9          785.8         4801.0  
      Mar. p                2418.0          852.8         3270.8          530.3          269.5          799.8          775.1         4845.8  
                                                                                                                                             
                                                                                                                                             
Week ending:                                                                        
 2004-Feb. 16               2393.5          836.9         3230.4          533.0          270.1          803.2          784.8         4818.4  
           23               2368.4          829.3         3197.8          532.3          270.1          802.4          785.8         4786.0  
                                                                                                                                             
      Mar.  1               2380.9          833.8         3214.6          531.5          270.0          801.5          782.2         4798.4  
            8               2448.8          851.2         3300.0          531.2          269.7          800.8          775.2         4876.0  
           15               2444.0          858.4         3302.4          530.7          269.7          800.4          773.8         4876.6  
           22               2405.8          853.5         3259.3          530.3          269.3          799.6          777.2         4836.1  
           29               2374.3          849.4         3223.7          529.5          269.3          798.8          775.7         4798.2  
                                                                                                                                             
      Apr.  5p              2489.8          866.4         3356.2          528.8          269.6          798.4          766.0         4920.5  
           12p              2526.5          876.1         3402.6          528.4          269.3          797.7          767.2         4967.4  
                                                                                                                                             
                                                                                                                                             
                                                                                                                                             
 1. Savings deposits include money market deposit accounts.
2. Small denomination time deposits are those issued in amounts of less than $100,000. All IRA and Keogh account balances at commercial
banks and thrifts are subtracted from small time deposits.
3. IRA and Keogh account balances at money market mutual funds are subtracted from retail money funds.
 

p -- indicates preliminary data.
 
 

 

 

H.6 (508)
Table 9
NOT SEASONALLY ADJUSTED COMPONENTS OF NON-M2 M3
Billions of dollars
 
  Large-denomination time deposits1RPs3  
DateInstitutional
money
funds
At commercial
banks2
At thrift
institutions
TotalAt commercial
banks2
At thrift
institutions
TotalEurodollars4Total
Non-M2 M3
 2002-Nov.         1213.5        698.9         116.0        814.9        385.5        53.2        438.7       225.8       2692.9      
      Dec.         1263.0        675.4         117.0        792.4        423.8        52.6        476.4       228.5       2760.3      
                                                                                                                                      
                                                                                                                                      
 2003-Jan.         1236.8        676.7         117.5        794.2        420.5        49.4        469.9       234.9       2735.9      
      Feb.         1217.2        675.7         117.9        793.6        441.5        50.7        492.2       238.9       2741.9      
      Mar.         1188.6        683.1         117.4        800.5        458.0        47.5        505.5       243.5       2738.1      
                                                                                                                                      
      Apr.         1142.4        683.3         117.7        801.0        455.9        49.4        505.4       250.3       2699.0      
      May          1120.4        695.4         118.0        813.4        475.9        49.1        525.0       261.5       2720.3      
      June         1133.2        693.7         118.8        812.6        480.1        49.4        529.5       257.4       2732.7      
                                                                                                                                      
      July         1164.7        695.0         121.2        816.2        444.1        53.6        497.7       263.4       2741.9      
      Aug.         1148.7        700.9         122.4        823.3        435.5        55.4        490.8       273.1       2735.9      
      Sep.         1141.1        710.8         122.3        833.1        431.9        52.2        484.0       274.0       2732.2      
                                                                                                                                      
      Oct.         1126.5        706.6         121.8        828.4        433.6        58.2        491.8       281.4       2728.0      
      Nov.         1128.0        714.3         120.6        834.9        441.2        62.7        503.9       283.3       2750.1      
      Dec.         1125.0        737.1         119.5        856.6        431.6        67.5        499.0       285.9       2766.5      
                                                                                                                                      
                                                                                                                                      
 2004-Jan.         1128.0        771.6         119.5        891.1        432.4        65.9        498.3       294.2       2811.6      
      Feb.         1113.1        783.0         120.7        903.6        464.0        63.1        527.1       295.2       2839.1      
      Mar. p       1108.7        803.6         123.9        927.5        469.8        60.4        530.2       291.3       2857.7      
                                                                                                                                      
                                                                                                                                      
Week ending:                                                              
 2004-Feb. 16      1110.0        781.2         120.5        901.6        476.8        63.2        540.1       295.1       2846.8      
           23      1120.5        785.6         120.6        906.2        458.5        62.5        521.0       296.8       2844.4      
                                                                                                                                      
      Mar.  1      1112.1        783.4         121.7        905.1        461.0        61.9        522.9       293.4       2833.6      
            8      1109.5        795.0         122.5        917.5        456.3        61.1        517.4       294.2       2838.6      
           15      1114.0        804.6         123.9        928.5        471.5        60.5        532.0       292.3       2866.8      
           22      1104.7        800.2         124.3        924.5        479.8        59.1        538.9       286.6       2854.7      
           29      1111.4        811.8         124.8        936.6        479.8        60.5        540.3       291.5       2879.8      
                                                                                                                                      
      Apr.  5p     1089.9        827.7         126.1        953.8        445.6        60.3        506.0       293.1       2842.7      
           12p     1104.0        828.3         126.6        954.9        435.6        60.5        496.1       293.4       2848.3      
                                                                                                                                      
                                                                                                                                      
                                                                                                                                      
 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
 2002-Nov.                7.9          1.1         14.8            3.2          5.0         16.1         24.3       23.1        166.3          97.8         175.9         440.0  
      Dec.                8.7          1.1         15.5            3.8          4.9         15.3         24.0       25.9        165.8          97.4         176.5         439.8  
                                                                                                                                                                                 
                                                                                                                                                                                 
 2003-Jan.                8.6          1.1         16.4            3.8          5.8         13.2         22.8       26.2        165.8          97.6         178.1         441.5  
      Feb.                7.9          1.1         17.3            3.6          5.1          5.7         14.3       23.0        166.3          98.7         180.7         445.7  
      Mar.                7.3          1.1         18.2            3.6          5.3          4.1         13.1       19.8        166.8          99.9         183.3         450.1  
                                                                                                                                                                                 
      Apr.                7.2          1.1         18.4            5.3          7.5          4.2         17.1       20.4        167.2         101.0         183.0         451.2  
      May                 7.5          1.1         18.0            3.6          6.7          6.0         16.2       23.5        167.5         101.5         180.7         449.7  
      June                7.8          1.2         17.5            4.8          6.7         12.4         24.0       26.6        167.8         101.9         178.4         448.2  
                                                                                                                                                                                 
      July                7.5          1.2         17.7            3.7          6.2         13.5         23.4       24.1        167.8         102.2         176.9         446.9  
      Aug.                7.1          1.2         19.0            3.8          5.6          6.4         15.9       18.3        167.7         102.4         175.9         445.9  
      Sep.                6.7          1.3         20.2            4.2          6.2         18.2         28.6       12.5        167.6         102.5         174.9         444.9  
                                                                                                                                                                                 
      Oct.                6.6          1.1         20.0            3.9          4.9         12.1         20.9        8.2        167.3         102.5         173.4 e       443.1 e
      Nov.                7.2          1.0         17.9            4.1          5.1         10.1         19.3        5.9        166.8         102.3         171.2 e       440.2 e
      Dec.                7.7          1.0         15.8            4.5          5.3         16.9         26.7        3.7        166.3         102.1         169.0 e       437.3 e
                                                                                                                                                                                 
                                                                                                                                                                                 
 2004-Jan.                8.0 e        0.9 e       14.6 e          4.9          5.6         24.3         34.8        2.4 e      166.1 e       102.0 e       167.8 e       435.9 e
      Feb.                8.0 e        0.9 e       14.6 e          4.4          5.3         15.8         25.4        2.4 e      166.4 e       102.2 e       167.8 e       436.4 e
      Mar. p              8.0 e        0.9 e       14.6 e          4.1          5.4         14.3         23.8        2.4 e      166.7 e       102.4 e       167.8 e       436.8 e
                                                                                                                                                                                 
                                                                                                                                                                                 
 2004-Feb. 16                                                      4.0          5.2          9.9         19.2                                                                    
           23                                                      4.4          4.9         16.9         26.2                                                                    
                                                                                                                                                                                 
      Mar.  1                                                      4.7          5.7         11.6         21.9                                                                    
            8                                                      3.9          5.6          6.2         15.6                                                                    
           15                                                      4.3          5.3          6.7         16.3                                                                    
           22                                                      3.9          5.8         28.0         37.7                                                                    
           29                                                      4.3          5.1         17.6         26.9                                                                    
                                                                                                                                                                                 
      Apr.  5p                                                     4.2          5.3          4.1         13.6                                                                    
           12p                                                     4.4          5.2          4.6         14.2                                                                    
                                                                                                                                                                                 
                                                                                                                                                                                 
                                                                                                                                                                                 
 1. Source: Daily Treasury statement.
e -- indicates estimated data     p -- indicates preliminary data
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