[Economic Indicators February, 1996]
[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 January, growth in M2 slowed; growth in M3 accelerated.
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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\        
                                                                                                          Debt of    -----------------------------------
                                                                        M2 plus large                    domestic                                       
                                Sum of currency,    M1 plus retail     time deposits,                  nonfinancial                                     
            Period              demand deposits,    MMMF balances,       RPs, Euro-        M3 plus        sectors                                       
                                   travelers'     MMDAs, and savings    dollars, and    other liquid     (monthly                                       
                                   checks, and      and small time      institution-       assets       average of       M1       M2       M3      Debt 
                                 other checkable       deposits           only MMMF                   adjacent month-                                   
                                 deposits (OCDs)                          balances                    end levels)\1\                                    
                                                                                                                                                        
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1986:Dec......................             724.4             2,734.6           3,486.4     r4,122.4         7,918.0      16.9      9.5      9.0     12.6
1987:Dec......................             749.8             2,834.4           3,673.3      4,328.5         8,671.0       3.5      3.6      5.4      9.5
1988:Dec......................             786.9             2,997.9           3,912.4      4,664.2         9,446.4       4.9      5.8      6.5      8.9
1989:Dec......................             794.2             3,164.0           4,065.5      4,894.2        10,173.5        .9      5.5      3.9      7.7
1990:Dec......................             825.8             3,282.2           4,124.1      4,975.8        10,854.0       4.0      3.7      1.4      6.7
1991:Dec......................             897.2             3,383.7           4,178.4      5,004.4        11,338.6       8.6      3.1      1.3      4.5
1992:Dec......................           1,024.4             3,438.7           4,187.3      5,075.8        11,881.7      14.2      1.6       .2      4.8
1993:Dec......................           1,128.6             3,494.1           4,249.6     r5,164.5        12,516.4      10.2      1.6      1.5      5.3
1994:Dec......................           1,148.7             3,509.4           4,319.4     r5,303.7        13,153.2       1.8       .4      1.6      5.1
1995:Dec......................           1,124.8             3,670.2          r4,581.4     r5,694.8        13,841.8      -2.1      4.6      6.1      5.2
                                                                                                                                                        
1995:Jan......................           1,149.2             3,515.3          r4,343.5     r5,331.2        13,201.9       -.4       .4      3.1      5.2
      Feb.....................           1,147.8             3,517.5          r4,355.9     r5,364.9        13,279.8       -.4       .8      3.7      5.5
      Mar.....................           1,148.7             3,525.1          r4,375.9     r5,402.2        13,342.3       -.3      1.2      4.2      5.5
      Apr.....................           1,151.2             3,537.3          r4,399.9     r5,437.1        13,419.4        .4      1.9      4.9      5.9
      May.....................           1,146.2             3,551.9          r4,428.5     r5,464.7        13,519.6       -.4      2.6      5.7      6.2
      June....................           1,144.5             3,582.6          r4,467.0     r5,504.0        13,578.2       -.7      4.2      6.8      6.5
      July....................           1,145.4             3,601.5          r4,495.1     r5,553.1        13,613.1       -.7      4.9      7.0      6.2
      Aug.....................           1,143.8             3,621.6          r4,522.9     r5,588.8        13,664.9       -.7      5.9      7.7      5.8
      Sept....................           1,140.2             3,635.0          r4,543.6     r5,634.7        13,704.0      -1.5      6.2      7.7      5.4
      Oct.....................           1,131.8             3,642.1          r4,558.2     r5,661.5        13,745.0      -3.4      5.9      7.2      4.9
      Nov.....................           1,129.0             3,653.2          r4,568.0     r5,668.2        13,807.8      -3.0      5.7      6.3      4.3
      Dec.....................           1,124.8             3,670.2          r4,581.4             p5,694.8        p13,84-3.4      4.9      5.1      3.9
                                                                                                                                                        
1996:Jan r....................           1,119.0             3,684.8           4,609.8  ............  ..............     -4.6      4.6      5.1  .......
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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.