[Economic Indicators September, 1995]
[Page Number 26]
[From the U.S. Government Publishing Office, www.gpo.gov]



 
                   MONEY, CREDIT, AND SECURITY MARKETS

MONEY STOCK, LIQUID ASSETS, AND DEBT MEASURES

In August, growth accelerated in M2 and slowed in M3.
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                                 [Averages of daily figures, except as noted; billions of dollars, seasonally adjusted]                                 
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                                       M1                 M2                 M3               L            Debt          Percent change from year or 6  
                               --------------------------------------------------------------------------------------          months earlier\2\        
                                                   M1 plus overnight                                                 -----------------------------------
                                                        RPs and                                                                                         
                                Sum of currency,   Eurodollars, MMMF    M2 plus large                     Debt of                                       
            Period              demand deposits,   balances (general   time deposits,      M3 plus       domestic                                       
                                   travelers'     purpose and broker/  term RPs, term   other liquid   nonfinancial                                     
                                   checks, and      dealer), MMDAs,   Eurodollars, and     assets         sectors        M1       M2       M3      Debt 
                                 other checkable    and savings and   institution-only                   (monthly                                       
                                 deposits (OCDs)      small time        MMMF balances                   average)\1\                                     
                                                       deposits                                                                                         
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1985:Dec......................             619.9             2,576.1           3,200.2      3,827.5         6,902.1      12.3      8.3      7.3     14.8
1986:Dec......................             724.4             2,820.3           3,488.7      4,129.1         7,785.2      16.9      9.5      9.0     12.8
1987:Dec......................             749.8             2,922.3           3,675.8      4,334.8         8,544.6       3.5      3.6      5.4      9.8
1988:Dec......................             786.9            r3,083.5           3,915.7      4,670.1         9,315.0       4.9      5.5      6.5      9.0
1989:Dec......................             794.2             3,243.1           4,066.1      4,896.5       r10,045.8        .9      5.2      3.8      7.8
1990:Dec......................             825.9             3,355.9           4,123.0     r4,972.6       r10,695.1       4.0      3.5      1.4      6.5
1991:Dec......................             897.3             3,457.9           4,176.0     r4,989.8       r11,179.9       8.6      3.0      1.3      4.5
1992:Dec......................           1,024.4             3,515.3           4,182.9     r5,059.3       r11,719.6      14.2      1.7       .2      4.8
1993:Dec......................           1,128.6             3,583.6           4,242.3     r5,145.8       r12,341.5      10.2      1.9      1.4     r5.3
1994:Dec......................           1,148.0             3,616.2           4,303.4     r5,269.3       r12,959.6       1.7       .9      1.4      5.0
                                                                                                                                                        
1994:July.....................           1,152.2             3,616.7           4,274.2     r5,217.1       r12,679.5       3.5      1.5      1.3     r4.8
      Aug.....................           1,150.8             3,614.9           4,273.8     r5,226.5       r12,744.8       2.4      1.6      2.0     r5.0
      Sept....................           1,151.0             3,614.0           4,279.9     r5,224.7       r12,804.0       1.7       .9      1.9     r4.9
      Oct.....................           1,148.2             3,609.9           4,286.2     r5,237.4       r12,850.8        .9       .2      1.7     r4.7
      Nov.....................           1,147.6             3,611.3           4,291.5     r5,248.2       r12,917.8        .7       .2      1.9      4.8
      Dec.....................           1,148.0             3,616.2           4,303.4     r5,269.3       r12,959.6        .2       .6      2.2     r4.9
                                                                                                                                                        
1995:Jan......................           1,149.0             3,627.9           4,326.1     r5,295.2       r13,014.7       -.6       .6      2.4      5.3
      Feb.....................           1,147.3             3,623.5           4,335.7     r5,336.1       r13,094.7       -.6       .5      2.9      5.5
      Mar.....................           1,147.9             3,631.0           4,358.7     r5,380.3       r13,155.9       -.5       .9      3.7      5.5
      Aprr....................           1,149.7             3,643.7           4,381.1      5,411.0        13,228.1        .3      1.9      4.4      5.9
      Mayr....................           1,142.9             3,659.9           4,410.2      5,445.3        13,319.2       -.8      2.7      5.5      6.2
      Juner...................           1,143.8             3,695.7           4,456.8      5,488.7        13,374.8       -.7      4.4      7.1      6.4
      Julyr...................           1,144.9             3,714.3           4,487.6             p5,544.3        p13,408-.7      4.8      7.5      6.1
      Aug.....................           1,143.5             3,739.4           4,517.2  ............  ..............      -.7      6.4      8.4  .......
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    \1\Consists of outstanding 
credit market debt of the U.S. 
Government, State and local 
governments, and private 
nonfinancial sectors; data from flow 
of funds accounts.
    \2\Annual changes are from 
December to December and monthly 
changes are from 6 months earlier at 
a simple annual rate.
    Note.--See p. 27 for components.

    Source: Board of Governors of 
the Federal Reserve System.