Treasury, Federal Reserve Banks, and the vaults of depository institutions (2) demand deposits at commercial banks (excluding those amounts held by depository institutions, the U.S.
government, and foreign banks and official institutions) less cash items in the process of collection and Federal Reserve float and (3) other checkable deposits (OCDs), consisting of negotiable order of withdrawal, or NOW, and automatic transfer service, or ATS, accounts at depository institutions, share draft accounts at credit unions, and demand deposits at thrift institutions.īeginning May 2020, M1 consists of (1) currency outside the U.S.
Before May 2020, M1 consists of (1) currency outside the U.S.
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