Figure 18. Net flows into money market mutual funds and deposits at commercial banks, 2008.
Data are plotted as curves. The net flows into money market mutual funds begin in January 2008 at about $75 billion, and then trend downward, on balance, to about negative $55 billion at the end of April 2008, and roughly move within a range of positive to negative $50 billion until mid-September, when they fall appreciably to negative $157 billion. Then, they swing upward and climb to $90 billion by mid-October, decline to $22 billion by the end of the month, increase to $84 billion by the end of November, and decrease to $35 billion by the end of December 2008. The net flows of deposits at commercial banks begin in January 2008 at about $50 billion, and generally move within a range of negative $50 billion to positive $50 billion until the end of August, when they move steeply higher, to peak at almost $200 billion. They fall to about negative $90 billion in the beginning of October, rebound quickly, to about $150 billion by the beginning of December, and end the year at slightly more than $50 billion.
NOTE: The data are aggregated from weekly to biweekly frequency.
SOURCE: For money market mutual funds, iMoneyNet; for deposits, Federal Reserve Board, Statistical Release H.8, "Assets and Liabilities of Commercial Banks in the United States."
