Board of Governors of the Federal Reserve System

1 15p H.3 (502) Table 1a AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS...1 15p Note: Current and historical H.3 data are available each week on

1/ Data for the first two weeks of August indicated that M1 is continuing...data thus far available suggests that expansion in M1 is moving along

1 1. Name of Material Entities ..........................................1 340 831 1 297 892 Commercial paper and bonds at fair value 260 338 2

61.1 82.8 32.6 93.0 Q4... 69.1 65.5 43.5 64.6 77.1 86.1 64.6 59.1 61.3...Data are estimates from the Federal Reserve System’s Survey of the Terms

1 of 107 Messrs. Clouse, Freeman, and Whitesell, Deputy Associate Directors...$1.29 to about $1.2350, some of the pressure was taken off, and the ECB

1 Mr. Barkema, Mses. Mester and Mosser, and Mr. Waller, Senior Vice Presidents

1 Mr. Barkema, Mses. Mester and Mosser, and Mr. Waller, Senior Vice Presidents

data coded in the call records for each case to describe the work. But...data provides little evidence of nonresponse bias. Acknowledgements The

1 -4 - 6 IV - 1 - 4 - 6 - 9 - 12 I - 1 SUMMARY AND OUTLOOK Nonfinancial...$1-1/2 billion more than four weeks ago. Real GNP is projected to rise

2.1 .7 1.3 .2 1.1 2004: Q1... 1.0 .4 .6 .1 .4 2.5 1.1 1.4 .3 1.1 Q2......1.5 .2 1.3 Note. Yearly data are as of December 31. Quarterly data are