Statistical Supplement | November 2006 Statistical Supplement to the Federal Reserve Bulletin, November 2006 |
Percent annual rate of change, seasonally adjusted1 | ||||||||||
Monetary or credit aggregate | 2005 | 2006 | 2006 | |||||||
---|---|---|---|---|---|---|---|---|---|---|
Q3 | Q4 | Q1 | Q2 | Apr | May | June | July | Aug | ||
Reserves of depository institutions2 | ||||||||||
1 | Total | -2.1 | -4.2 | -12.7 | 9.5 | 24.9 | 11.6 | 9.9 | -32.0 | -38.0 |
2 | Required | -3.4 | -5.0 | -10.3 | 7.5 | 16.6 | 12.9 | 10.7 | -26.9 | -39.2 |
3 | Nonborrowed | -3.8 | -2.6 | -12.0 | 8.5 | 22.8 | 13.7 | 7.8 | -34.8 | -38.7 |
4 | Monetary base3 | 3.7 | 4.2 | 6.1 | 4.4 | 4.3 | 6.7 | -1.4 | -2.8 | .6 |
Concepts of money4 | ||||||||||
5 | M1 | 1.0 | -.1 | 2.2 | .9 | 1.8 | 5.5 | -19.6 | 2.7r | -2.8 |
6 | M2 | 4.6 | 5.0 | 6.3 | 3.0 | 3.2 | 1.0 | 5.2 | 3.7 | 4.2 |
7 | M3 | 7.8 | 9.3 | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. |
Nontransaction components | ||||||||||
8 | In M25 | 5.5 | 6.4 | 7.4 | 3.5 | 3.6 | -.1 | 11.6 | 4.0 | 5.9 |
9 | In M3 only6 | 14.9 | 17.7 | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. |
Time and savings deposits | ||||||||||
Commercial banks | ||||||||||
10 | Savings, including MMDAs | 4.9 | 7.0 | 5.6 | -.1 | 6.3r | -10.6 | 6.6 | -3.8r | -5.9 |
11 | Small time7 | 20.3 | 6.8 | 16.0 | 16.2 | 14.3 | 13.0 | 15.9 | 21.8 | 21.6 |
12 | Large time8, 9 | 12.3 | 21.4 | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. |
Thrift institutions | ||||||||||
13 | Savings, including MMDAs | -3.0 | -3.6 | 2.4 | -7.3 | -22.0 | 6.0 | 3.3 | -8.8 | 6.4 |
14 | Small time7 | 21.0 | 30.5 | 16.8 | 18.9 | 18.6 | 18.0 | 19.7 | 27.1r | 32.5 |
15 | Large time8 | 33.1 | 36.0 | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. |
Money market mutual funds | ||||||||||
16 | Retail10 | -.8 | 5.0 | 7.9 | 11.7 | 6.2 | 12.1 | 32.4 | 19.7 | 20.6 |
17 | Institution-only | 11.7 | 12.1 | 9.1 | 11.5 | 14.6 | 15.6 | 15.6 | 10.9 | 24.5 |
Repurchase agreements and Eurodollars | ||||||||||
18 | Repurchase agreements | 22.5 | 22.3 | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. |
19 | Eurodollars | 11.5 | 7.9 | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. |
Note: In March 2006, the Board ceased publication of the M3 monetary aggregate and all the components of non-M2 M3 (large time deposits, repurchase agreements, and Eurodollars) except for institutional money funds. Measures of large time deposits will continue to be published by the Board in the Flow of Funds Accounts (Z.1 release) on a quarterly basis and in the H.8 release on a weekly basis (for commercial banks). 1. Unless otherwise noted, rates of change are calculated from average amounts outstanding during the preceding month or quarter. Return to table 2. Figures incorporate adjustments for discontinuities, or "breaks," associated with regulatory changes in reserve requirements. (See also table 1.20.) Return to table 3. The seasonally adjusted, break-adjusted monetary base consists of (1) seasonally adjusted, break-adjusted total reserves (line 1), plus (2) the seasonally adjusted currency component of the money stock, plus (3) (for all quarterly reporters on the "Report of Transaction Accounts, Other Deposits and Vault Cash" and for all weekly reporters whose vault cash exceeds their required reserves) the seasonally adjusted, break-adjusted difference between current vault cash and the amount applied to satisfy current reserve requirements. Return to table 4. Composition of the money stock measures is as follows: 5. Sum of (1) savings deposits (including MMDAs), (2) small time deposits, and (3) retail money fund balances, each seasonally adjusted separately. Return to table 6. Sum of (1) large time deposits, (2) institution-only money fund balances, (3) RPs, and (4) Eurodollars, each seasonally adjusted separately. Return to table 7. Small 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. Return to table 8. Large time deposits are those issued in amounts of $100,000 or more, excluding those booked at international banking facilities. Return to table 9. Large 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. Return to table 10. IRA and Keogh account balances at money market mutual funds are subtracted from retail money funds. Return to table |
Statistical Supplement | November 2006 | Tips for printing wide tables | Symbols and Abbreviations