Full text of H.6 Money Stock Measures : February 23, 1978

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FEDERAL

RESERVE

FEDERAL RESERVE Statistical Releas* H.6

statistical

releas/e

Table 1

For Immediate Release

MONEY STOCK MEASURES

FEB. 23, 1978

IN BILLIONS OF DOLLARS
M2

Ml

MI Plus Time
M 2 Plus
M 2 Plus
Currency Deposits at Deposits at
Large
Commercial Nonbank
Plus
Banks
Demand
Negotiable
Thrift
CD's*/
Deposits-!/ Other Than
Large CD's 2/ Institutions^

Date

MS

M4

M3

M 3 Plus
Large
Negotiable
CD'sS/

M2

M

l

MI Plus Time
M 2 Plus
Deposits at
Currency
M 2 Plus
Deposits at
Plus
Commercial
Large
Nonbank
Banks
Demand
Negotiable
Thrift
Deposits^ Other Than Institutions*
CD's*/
Large CD's^

Seasonally Adjusted
1977 — JAN.
FEB.
MAR.
APR.

313.8
314.0
315.4
320.5
320.7
321.9
326.8
328.4
330.4
333.7
333.3
335.4

MAY

JUNE
JULY
AUG.

SEPT.
OCT.
NOV.
DEC.

1978— JAN.

r 337.4

r

746.3
750.7
756.1
764.6
767.6
772.8
783.5
787.7
792.9
799.6
802.7
806.5

r

1248.9
1258.2
1268.1
1281.2
1289.0
1299.5
1316.9
1329.5
1343.1
1357.1
1365.6
1374.0

812.0

r

1383.0

M 3 Plus
Large
Negotiable
CD's-5/

Not Seasonally Adjusted
809.3
814.0
818.2
826.2
829.9
836.8
846.3
850.9
856.2
865.9
873.5
881.2

r

MS

M4

M3

868.3

r

1312.0
1321.5
1330.3
1342.8
1351.3
1363.5
1379.8
1392.7
1406.3
1423.5
1436.5
1448.8

319.7
309.9
312.4
322.3
315.5
321.4
327.2
325.2
328.2
332.5
335.4
344.9

751.2
747.2
756.2
770.0
766.2
774.5
784.0
784.4
788. 9
796.4
800.0
611.7

1251.4
1253.1
1269.8
1290.2
1290.3
1305.7
1322.1
1326.6
1337.1
1350.6
1357.4
r 1374.2

814*3
608.5
817.0
830.1
827.4
837.5
846.8
848.8
854.3
864.7
871.6
887.6

1459.3

343.8

617.2

r

893.6

1385.3

1314.5
1314.4
1330.7
1350.3
1351.4
1368.7
1364.9
1391.1
1402.6
1419.0
1429.0
1450.2
r

1461.6

WEEK ENDING:
1977-DEC.

21
28

1978-JAN.

4
11
18
25

FE8.

1
8 P
15 P

r
r

335.4
335.7

805.8
806.9

881.0
882.9

345.3
345.2

811.2
812.5

887.7
889.9

340.2
336.6
337.2
337.4

813.1
810.7
812.0
812.8

689.8
886.8
887.6
889.0

357.9
349.6
345.8
337.1

828.4
821.9
819.3
811.7

905.8
898.4
895.2
887.7

888.9
893.1
892.7

r 332.8
r 335.2
333.2

336.0
337.3
336.1

r

811.7
814.7
813.6

r

r

808.0
812.1
611.2

r

884.4
888.8
887.9

I/ INCLUDES (1) DEMAND DEPOSITS AT ALL COMMERCIAL BANKS OTHER THAN THOSE DUE TO DOMESTIC COMMERCIAL BANKS AND THE U.S.GOVERNMENT,
LESS CASH ITEMS IN THE PROCESS OF COLLECTION AND F.R.FLOAT; (2) FOREIGN DEMAND BALANCES AT F.R.BANKS; AND (3) CURRENCY OUTSIDE
THE TREASURY, F.R.BANKS AND VAULTS OF ALL COMMERCIAL BANKS.
2/ INCLUDES. IN ADDITION TO CURRENCY AND DEMAND DEPOSITS, SAVINGS DEPOSITS, TIME DEPOSITS OPEN ACCOUNT, AND TIME CERTIFICATES OF
DEPOSITS OTHER THAN NEGOTIABLE TIME CERTIFICATES OF DEPOSIT ISSUED IN DENOMINATIONS OF $100,000 OR MORE BY LARGE WEEKLY REPORTING COMMERCIAL BANKS.
3/ INCLUDES M2, PLUS THE A V E R A G E OF THE BEGINNING AND END OF MONTH DEPOSITS OF M U T U A L SAVINGS BANK, SAVINGS AND LOAN SHARES, AND
CREDIT UNION SHARES.
4/ INCLUDES M2, PLUS NEGOTIABLE TIME CERTIFICATES OF DEPOSIT ISSUED IN DENOMINATIONS OF $100,000 OR MORE.
5/ INCLUDES M3, PLUS NEGOTIABLE TIME CERTIFICATES OF DEPOSIT ISSUED IN DENOMINATIONS OF $100,000 OR MORE.
,P - PRELIMINARY; R - R E V I S E D




FEDERAL RESERVE Statistical Release H.6
Table 2

MONEY STOCK MEASURES
PER CENT CHANGE AT SEASONALLY ADJUSTED A N N U A L RATES

M

i

DATE

M2

Mi Plus Time
Deposits at
Currency Plus
Commercial
Demand Deposits^/ Banks Other Than
Large CD's-2/

M

3

M2 Plus Deposits
at Nonbank Thrift
Institutions^/

"4

M2 Plus Large
Negotiable CD's5'

"5
Ma Plus Large
Negotiable CD's^

N.

FROM:

T.

1977

(3 MONTHS PREVIOUS)

4.4

6.2

LY

1977

16 MONTHS PREVIOUS)

6.5

7.3

10.0

9.9

11.5

Y.

1977

(12 MONTHS PREVIOUS)

7.5

8.8

10.7

9.8

11.2

7.6

10.3

10.1

JR WEEKS ENDING: FEB. is, 1978
*OM FOUR WEEKS ENDING:
J.
NOV.

16, 1977(13 WEEKS PREVIOUS)

4.0

6.1

9.8

5.

17, 1977(26 WEEKS PREVIOUS)

5.4

6.8

9.8

i.

16, 1977(52 WEEKS PREVIOUS)

7.3

8.6

9.7

I/ INCLUDES (1) DEMAND DEPOSITS AT ALL C O M M E R C I A L BANKS OTHER THAN THOSE DUE TO DOMESTIC COMMERCIAL BANKS AND THE U.S.GOVERNMENT,
LESS CASH ITEMS IN THE PROCESS OF COLLECTION AND F.R.FLOAT; (2) FOREIGN DEMAND BALANCES AT F.R.BANKS; AND (3) CURRENCY OUTSIDE
THE TEASURY V F.R.BANKS AND VAULTS OF ALL COMMERCIAL BANKS.
2/ INCLUDES, IN ADDITION TO CURRENCY AND DEMAND DEPOSITS, SAVINGS DEPOSITS, TIME DEPOSITS OPEN ACCOUNT, AND TIME CERTIFICATES OF DEPOSITS OTHER THAN NEGOTIABLE TIME CERTIFICATES OF DEPOSIT ISSUED IN DENOMINATIONS OF $100,000 OR MORE BY LARGE WEEKLY REPORTING C O M M E R C I A L BANKS.
3/ INCLUDES M2, PLUS THE AVERAGE OF THE BEGINNING AND END OF MONTH DEPOSITS OF MUTUAL SAVINGS BANKS, SAVINGS AND LOAN SHARES* AND
CREDIT UNION SHARES.
4/ INCLUDES M2, PLUS NEGOTIABLE TIME CERTIFICATES OF DEPOSIT ISSUED IN DENOMINATIONS OF $100,000 OR MORE.
5/ INCLUDES M3, PLUS NEGOTIABLE TIME CERTIFICATES OF DEPOSIT ISSUED IN DENOMINATIONS OF $100,000 OR MORE.
NOTE: ALL RATES OF CHANGE ARE BASED ON DAILY AVERAGE DATA; RATES OF CHANGE ARE NOT COMPOUNDED.




FEDERAL RESERVE Statistical Release H.6

Table 3

COMPONENTS OF MONEY STOCK MEASURES AND RELATED ITEMS
SEASONALLY ADJUSTED, IN BILLIONS OF DOLLARS
Time and Savings Deposits
Date

Currency

Demand Deposits

CD's^

Other

Nonbank
^
Thrift Institutions-^

Total

232.7
232.1
233.2
237.4
237.1
238.0
241.7
242.9
244.0
246.6
245.5
247.0

63.1
63.3
62.2
61.6
62.3
63.9
62.8
63.2
63.2
66.4
70.9
74.7

432.5
436.7
440.6
444.1
446.9
450.9
456.7
459.3
462.6
465.9
469.4
471.1

495.6
500.0
502.8
505.7
509.2
514.8
519.5
522.5
525.8
532.2
540.3
545.8

r

502.6
507.5
512.1
516.6
521.4
526.7
533.5
541.7
550.2
557.5
563.0
567.5

248.2

76.3

474.6

550.9

r

571.0

88.5
88.7

246.9
246.9

75.2
76.0

470.4
471.3

545.7
547.3

11
18
25

88.7
88.7
89.2
89.6

251.5
247.9
248.0
247.8

76.6
76.0
75.7
76.2

472.9
474.1
474.8
475.3

549.6
550.1
550.4
551.5

1
8 P
15 P

89.7
89.8
89.9

977 — JAN.
FEB.
MAR.
APR.

OCT.
NOV.
DEC.

81.1
81.8
82.2
83.1
83.6
84.0
85.1
65.5
86.4
87.1
87.8
88.4

978 — JAN.

89.2

MAY

JUNE
JULY
AUG.

SEPT.

r

EEK ENDING:
977-DEC.

21
28

978-JAN.

FEB.

4

r
r

246.3
247.4
246.2

r

77.3
78.4
79.1

r
r

475.7
477.4
477.5

r

553.0
555.8
556.6

I/ INCLUDES NEGOTIABLE TIME CERTIFICATES OF DEPOSIT ISSUED IN DENOMINATIONS OF $100,000 OR MORE BY LARGE WEEKLY REPORTING COMMERCIAL BANKS.
2/ AVERAGE OF BEGINNING AND END OF MONTH DEPOSITS AT MUTUAL SAVINGS BANKS, SAVINGS AND LOAN SHARES, AND CREDIT UNION SHARES.

p - PRELIMINARY; R - REVISED




FEDERAL RESERVE Statistical Release H.6

Table 4

COMPONENTS OF MONEY STOCK MEASURES AND RELATED ITEMS
NOT SEASONALLY ADJUSTED, IN BILLIONS OF DOLLARS
Demand Deposits
Date

Currency

1977 — JAN.
FEB.
MAR.
APR.
MAY

JUNE
JULY
AUG.

SEPT.
OCT.
NOV.
DEC.
1978 —JAN.

Member

Total^

Time and Savings Deposit

Domestic
Nonmember2f

CD's^

Other

Total

Nonbank
Thrift
Institutions4/

U.S. Gov't.
Demand^/

80.5
80.8
81.6
82.8
83.4
84.2
85.7
85.8
86.1
86.9
88.4
90.0

239.2
229.1
230.9
239.6
232.1
237.1
241.4
239.3
242.1
245.6
247.0
254.9

168.1
161.0
162.1
167.6
161.8
165.1
167.7
166.3
167.5
170.0
170.3
176.3

67.5
64.6
65.2
68.3
66.6
68.3
69.5
69.1
70.4
71.3
72.4
74.3

63.1
61.3
60.8
60.1
61.2
63.0
62.8
64.5
65.4
68.3
71.6
75.9

431.5
437.3
443.8
447.7
450.7
453.2
456.9
459.2
460.7
463.8
464.6
466.8

494.6
496.6
504.6
507.7
511.8
516.1
519.6
523.7
526.1
532.2
536.2
542.7

r

500.2
505.9
513.6
520.2
524.1
531.1
538.1
542.3
548.2
554.3
557.4
562.5

4.2
4.4
4.5
5.6
3.8
5.2
3.9
3.7
5.4
4.1
3.8
5.5

88.6

255.2

r 175.8

r 74.9

76.4

473.4

549.8

r 568.1

4.6

90.2
90.8

255.1
254.5

176.2
175.7

74.6
74.3

76.5
77.4

465.9
467.3

542.4
544.7

9.2
5.8

89.5
89.5
88.7
87.9

268.4
260.1
257.1
249.2

186.8
178.5
176.7
171.6

77.0
77.1
75.7
73.2

77.3
76.6
76.0
76.0

470.5
472.3
473.4
474.5

547.9
548.9
549.4
550.6

7.0
4.4
4.3
4.5

169.3
169.7
167.5

72.0

r 7Z.3

76.4
76.7
76.7

551.7
553.6
554.8

r 4.0
4.9
3.7

WEEK ENDING:
1977-DEC.

21
28

1978-JAN.

4
11
18
25

FEB.

1
8 P
15 P

r
r

87.6
89.3
89.1

r

245.2
245.9
244.0

r
r

72.3

r

475.3
476,9
478.0

r

I/ TOTAL DEPOSITS INCLUDE, IN ADDITION TO THE MEMBER AND DOMESTIC NONMEMBER DEPOSITS SHOWN, DEPOSITS DUE TO FOREIGN AND
INTERNATIONAL \NST1TUTIONS AT F.R.BANKS AND Ml TYPE BALANCES AT AGENCIES AND BRANCHES OF FOREIGN BANKS.
2/ BASED ON MOST R&CENT CALL REPORT SINGLE-DAY OBSERVATIONS.
3/ INCLUDES NEGOTIABLE TIME CERTIFICATES OF DEPOSIT ISSUED IN DENOMINATIONS OF $100*000 OR MORE BY LARGE WEEKLY
REPORTING COMMERCIAL BANKS.
4/ AVERAGE OF BEGINNING AND END OF MONTH DEPOSITS AT MUTUAL SAVINGS BANKSf SAVINGS AND LOAN SHARES, AND CREDIT UNION SHARES.
57 U.S.GOVERNMENT DEMAND D|POSITS AT ALL COMMERCIAL BANKS.
P - PRELIMINARY; R - REVTSilD