[Economic Report of the President (1997)]
[Administration of William J. Clinton]
[Online through the Government Printing Office, www.gpo.gov]

[DOCID: f:erp_b67._]
Economic Report of the President - - - - - - - - - - - - H. Doc. 105-002
[From the online service of the U.S. Government Printing Office]
[wais.access.gpo.gov]


MONEY STOCK, CREDIT, AND FINANCE


Table B-67.--Money stock, liquid assets, and debt measures, 1959-96
[Averages of daily figures, except debt; billions of dollars, seasonally adjusted]
--------------------------------------------------------------------------------------------------------------------------------------------------------
M1           M2           M3             L          Debt\1\     Percent change from year or 6
--------------------------------------------------------------------        months earlier\2\
Sum of      M1 plus                                             -------------------------------
currency,      retail       M2 plus                     Debt of
demand        MMMF      large time                   domestic
deposits,    balances,     deposits,                 nonfinancial
Year  and  month                     travelers     savings     RPs, Euro-      M3 plus       sectors
checks, and    deposits   dollars, and  other liquid    (monthly      M1      M2      M3     Debt
other     (including   institution-    assets      average of
checkable   MMDAs), and     only MMMF                  adjacent
deposits    small time    balances                    month-end
(OCDs)      deposits                                  levels)
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December:
1959..............................................        140.0        297.8         299.7        388.6         687.6   ......  ......  ......     7.6

1960..............................................        140.7        312.4         315.2        403.5         723.0      0.5     4.9     5.2     5.1
1961..............................................        145.2        335.5         340.8        430.6         765.7      3.2     7.4     8.1     5.9
1962..............................................        147.8        362.7         371.3        465.9         818.4      1.8     8.1     8.9     6.9
1963..............................................        153.3        393.3         405.9        503.6         873.3      3.7     8.4     9.3     6.7
1964..............................................        160.3        424.8         442.4        540.3         936.8      4.6     8.0     9.0     7.3
1965..............................................        167.9        459.2         482.1        584.4       1,003.7      4.7     8.1     9.0     7.1
1966..............................................        172.0        480.2         505.4        615.1       1,070.9      2.4     4.6     4.8     6.7
1967..............................................        183.3        524.8         557.9        667.3       1,145.2      6.6     9.3    10.4     6.9
1968..............................................        197.4        566.9         607.2        729.9       1,236.8      7.7     8.0     8.8     8.0
1969..............................................        203.9        587.9         615.9        764.4       1,326.7      3.3     3.7     1.4     7.3

1970..............................................        214.4        626.6         677.2        816.0       1,416.1      5.1     6.6    10.0     6.7
1971..............................................        228.3        710.3         776.0        902.9       1,549.6      6.5    13.4    14.6     9.4
1972..............................................        249.2        802.3         886.0      1,022.9       1,705.7      9.2    13.0    14.2    10.1
1973..............................................        262.8        855.5         985.0      1,142.5       1,890.8      5.5     6.6    11.2    10.9
1974..............................................        274.3        902.5       1,070.1      1,250.0       2,063.5      4.4     5.5     8.6     9.1
1975..............................................        287.5      1,017.0       1,172.1      1,366.8       2,251.2      4.8    12.7     9.5     9.1
1976..............................................        306.3      1,152.7       1,311.9      1,516.8       2,495.5      6.5    13.3    11.9    10.9
1977..............................................        331.3      1,271.5       1,472.5      1,705.4       2,811.5      8.2    10.3    12.2    12.7
1978..............................................        358.4      1,368.0       1,646.8      1,911.1       3,201.6      8.2     7.6    11.8    13.9
1979..............................................        382.8      1,475.7       1,806.5      2,119.8       3,591.2      6.8     7.9     9.7    12.2

1980..............................................        408.8      1,601.0       1,992.2      2,329.2       3,933.7      6.8     8.5    10.3     9.5
1981..............................................        436.5      1,756.0       2,240.7      2,603.2       4,330.8      6.8     9.7    12.5    10.1
1982..............................................        474.5      1,910.9       2,442.3      2,851.3       4,760.0      8.7     8.8     9.0     9.9
1983..............................................        521.1      2,127.9       2,685.0      3,147.5       5,327.9      9.8    11.4     9.9    11.9
1984..............................................        552.1      2,312.4       2,979.7      3,522.0       6,112.7      5.9     8.7    11.0    14.7
1985..............................................        619.8      2,497.8       3,198.0      3,825.3       7,025.3     12.3     8.0     7.3    14.9
1986..............................................        724.4      2,734.6       3,486.4      4,122.4       7,906.3     16.9     9.5     9.0    12.5
1987..............................................        749.8      2,834.4       3,673.2      4,328.5       8,664.1      3.5     3.6     5.4     9.6
1988..............................................        786.9      2,997.9       3,912.4      4,664.2       9,441.6      4.9     5.8     6.5     9.0
1989..............................................        794.2      3,164.0       4,065.5      4,894.2      10,171.6       .9     5.5     3.9     7.7

1990..............................................        825.8      3,282.2       4,124.1      4,975.8      10,852.6      4.0     3.7     1.4     6.7
1991..............................................        897.2      3,383.7       4,178.4      5,004.4      11,337.1      8.6     3.1     1.3     4.5
1992..............................................      1,024.4      3,438.7       4,187.1      5,075.6      11,880.7     14.2     1.6      .2     4.8
1993..............................................      1,128.6      3,494.0       4,249.5      5,164.4      12,506.5     10.2     1.6     1.5     5.3
1994..............................................      1,148.7      3,509.2       4,319.2      5,302.9      13,148.4      1.8      .4     1.6     5.1
1995..............................................      1,124.9      3,657.4       4,572.1      5,681.5      13,866.9     -2.1     4.2     5.9     5.5
1996p.............................................      1,076.9      3,825.6       4,894.4  ............  ............    -4.3     4.6     7.0  ......

1995:Jan............................................      1,149.2      3,513.9       4,341.8      5,329.1      13,201.7      -.4      .3     3.0     5.3
Feb.............................................      1,147.7      3,513.8       4,351.9      5,360.6      13,277.3      -.4      .6     3.5     5.6
Mar.............................................      1,148.7      3,518.8       4,369.2      5,395.4      13,345.2      -.3      .9     3.9     5.6
Apr.............................................      1,151.2      3,528.4       4,390.8      5,427.7      13,405.5       .4     1.4     4.5     5.7
May.............................................      1,146.1      3,540.8       4,417.0      5,453.0      13,482.6      -.5     2.0     5.2     5.8
June............................................      1,144.5      3,569.1       4,453.1      5,489.8      13,560.6      -.7     3.4     6.2     6.3

July............................................      1,145.4      3,587.0       4,480.0      5,537.9      13,613.9      -.7     4.2     6.4     6.2
Aug.............................................      1,143.8      3,607.3       4,508.4      5,574.7      13,654.2      -.7     5.3     7.2     5.7
Sept............................................      1,140.1      3,620.8       4,529.5      5,621.7      13,704.4     -1.5     5.8     7.3     5.4
Oct.............................................      1,131.8      3,628.4       4,545.4      5,649.1      13,764.1     -3.4     5.7     7.0     5.4
Nov.............................................      1,129.0      3,640.2       4,557.4      5,656.0      13,820.7     -3.0     5.6     6.4     5.0
Dec.............................................      1,124.9      3,657.4       4,572.1      5,681.5      13,866.9     -3.4     4.9     5.3     4.5

1996:Jan............................................      1,119.2      3,671.6       4,600.3      5,700.2      13,917.5     -4.6     4.7     5.4     4.5
Feb.............................................      1,117.3      3,687.2       4,638.1      5,720.7      13,990.2     -4.6     4.4     5.8     4.9
Mar.............................................      1,126.7      3,722.1       4,680.1      5,779.8      14,066.3     -2.4     5.6     6.6     5.3
Apr.............................................      1,123.6      3,727.1       4,688.6      5,806.9      14,133.8     -1.4     5.4     6.3     5.4
May.............................................      1,117.0      3,720.6       4,701.6      5,804.3      14,189.9     -2.1     4.4     6.3     5.3
June............................................      1,116.4      3,736.7       4,722.2      5,834.3      14,246.2     -1.5     4.3     6.6     5.5

July............................................      1,107.9      3,741.7       4,733.7      5,850.5      14,317.0     -2.0     3.8     5.8     5.7
Aug.............................................      1,098.8      3,753.6       4,751.8      5,881.5      14,372.3     -3.3     3.6     4.9     5.5
Sept............................................      1,090.9      3,764.0       4,780.7      5,922.9      14,418.4     -6.4     2.3     4.3     5.0
Oct.............................................      1,075.7      3,773.3       4,816.3      5,943.6      14,480.1     -8.5     2.5     5.4     4.9
Nov.............................................      1,075.8      3,797.8       4,845.5  ............     14,545.2     -7.4     4.1     6.1     5.0
Dec.....    -7.1     4.8     7.3  ......
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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 derived from
flow of funds accounts.
\2\Annual changes are from December to December; monthly changes are from 6 months earlier at a simple annual rate.

Note.--See Table B-68 for components.

Source: Board of Governors of the Federal Reserve System.