Full text of H.6 Money Stock Measures : April 10, 1981

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FEDERAL RESERVE statistical release
For Immediate Release
H.6 (508)
APR.

Table 1

10r

1981

MONEY STOCK MEASURES AND LIQUID ASSETS
Billions of dollars, seasonally adjusted unless otherwise noted
M1-B
M1-A

Currency
plus demand
deposits 1

Date

M1-Aplus
other checkable
deposits at banks
and thrift
institutions

Addenda:
Overnight RPs
at commercial
banks plus
overnight
Eurodollars 2

Money market
mutual fund
shares

NSA

NSA

M3
M2
M1-Bplus
M2 plus large
overnight RPs
time deposits
and Eurodollars,
MMMF shares, and and term RPs at
savings and small commercial banks
and thrift
time deposits at
institutions ^
commercial banks
and thrift 3
institutions

L

M3 plus other
liquid assets5

1980-HAH,

372.9

391.4

26.3

60.9

1554.6

1813.0

2203.8

APE.
MAI
JUNE

366.7
367.1
370.9

386.3
386.1
391.3

22.1
23.3
24.6

60.4
66.8
74.2

1550.4
1563.7
1587.6

1811.9
1825.7
184b.2

2213.3
2229.8
2242.7

JOLT
AUG.
SEPT.

373.5
379.5
383.4

395.5
402.7
408.0

29.1
31.6
33.0

80.6
80.7
78.2

1612.5
1632.5
1644.4

1867.7
1889.5
1904.6

2258.2
2282.7
2306.5

OCT.
NOV. P
DEC. P

386.3
388.4
384.8

412.0
415.0
411.9

32.5
32.6
32.1

77*4
77.0
75.8

1656.5
1670.8
1673.4

1921.8
1946.1
1957.9

2319.1
2346.5
2370.9

372.8 6 /
366.0 6 /
364.8 6/

416.0 6/
417.3 6/
421.6 6 /

32.6
31.9
32.9

80.7
92.4
105.4

1681.4
1692.2
1714.0

1978.9
1993.6
2007..0

2393.3

P
P
P
P

365.7
365.5
363.7
363.3

419.9
421.8
420.4
420.6

35.6
33.9
32.1
30.5

98.0
101.2
104.9
109.1

1P

365.1

423.8

33.7

111.3

1981-JAN. P
FEB. P
BAB. P

WEEK E N D I N G :

1981-MAR.

APR-

1/

4
11
18
25

INCLUDES (1) DEMAND DEPOSITS AT ALL COMMERCIAL BANKS OTHER THAN THOSE DOE TO DOMESTIC BANKS, THE U.S.
GOVERNMENT AND POREIGN BANKS AND OFFICIAL INSTITUTIONS LESS CASH ITEMS IN THE PROCESS OF COLLECTION AND
F.R. FLOAT; AND (2) CURRENCY OUTSIDE THE TREASURY, F.R. BANKS AND THE VAULTS OF COMMERCIAL BANKS.
2/ OVERNIGHT (AND CONTINUING CONTRACT) RPS ARE THOSE ISSUED BY COMMERCIAL BANKS TO THE NONBANK PUBLIC, AND
OVERNIGHT EURODOLLARS ARE THOSE ISSUED BY CARIBBEAN BRANCHES OF KEMBER BANKS TO U.S. NONBANK CUSTOMERS.
3/ SHALL DENOMINATION TIME DEPOSITS ARE THOSE ISSUED IN AMOUNTS OF LESS THAN $100,000. M2 HILL DIFFER FROM
THE SUM OF COMPONENTS PRESENTED IN SUBSEQUENT TABLES BY A CONSOLIDATION ADJUSTMENT THAT REPRESENTS THE
laOUNT OF DEMAND DEPOSITS HELD BY THRIFT INSTITUTIONS AT COMMERCIAL BANKS.
4/ LARGE DENOMINATION TIME DEPOSITS ARE THOSE ISSUED IN AMOUNTS OF $100,000 OR MORE AND ARE NET OF THE HOLDINGS
OF DOMESTIC BANKS, THRIFT INSTITUTIONS, THE U.S. GOVBRNttEMT, MONEY MARKET MUTUAL FUNDS AHD FOREIGN BANKS ANT
OFFICIAL INSTITUTIONS.
5/ OTHER LIQUID ASSETS INCLUDE THE NOHBANK PUBLIC'S HOLDINGS OF U.S. SAVINGS BONDS, SHORT-TERM TREASURY
SECURITIES, COMMERCIAL PAPER, BANKERS ACCEPTANCES AND TERM EURODOLLARS NET OF MONEY MARKET MUTUAL FUND
HOLDINGS OF THESE ASSETS.
6/ THE OBSERVED DATA FOR M1-A AND H1-B SINCE THE BEGINNING OF THE YEAR HAVE BE2N AFFECTED BY SHIFrS OF FUNDS
OUT OF DEMAND DEPOSITS AND OTHER ACCOUNTS INTO NOW ACCOtJNfSo ADJUSTMENTS NEED TO BE MADE TO THE OBSERVED
SERIES TO MEASURE THE UNDERLYING BEHAVIOR OF THE NARROW MONEY SUPPLY, ABSTRACTING FROM SUCH SHIFTS.
INFORMATION CURRENTLY AVAILABLE PROM A NUMBER OF SOURCES—SUCH AS SAMPLES OF DEPOSITORY INSTITUTIONS AND
HOUSEHOLDS—SUGGESTS THAT THE INCREASE IN OTHER CHECKABLE DEPOSITS IN EXCESS OF "TREND" COMING FROM
DEMAND DEPOSITS DURING THE FIRST THREE MONTHS OF THE YBAR WAS AS FOLLOWS: ABOUT 75 TO 80 PERCENT IN
JANUARY AND 70 TO 75 PERCENT IN FEBRUARY AND MARCH. THUS, THE SHARE COMING FROM SAVINGS ACCOUNTS AND
OTHER NON-DEMAND DEPOSIT SOURCES WAS: ABOUT 20 TO 25 PERCENT IN JANUARY AND 25 TO 30 PERCENT IN FEBRUARY
AND MARCH. BASED ON THE HID-POIRTS OF THESE RANGES, ffifc OBSERVED CHANGE IN Ht-B VOULD APPEAR TO BE LARGER
AS A RESULT OF SHIFTS FROM ASSETS OTHER THAN DEMAND DEPOSITS TO NOW ACCOUNTS BY $3.6 BILLION IN JANUARY,
BY $2.1 BILLION IN FEBRUARY, AND Bf $1.5 BILLION IN MABCH, IMPLYING ADJUSTED Ht-B GROWTH RATES OF 1.5 PERCENT IN JANUARY, -2.3 PERCENT IN FEBRUARY, AND 8.2 PERCENT IN MARCH. FOR M1-A, ADJUSTED GROWTH RATES ARE
1.2 PERCENT IN JANUARY, -3.7 PERCENT IN FEDRUARY, AND 8.8 PERCENT IN MARCH. THESE ESTIMATES ARE SUBJECT
TO REVISION AS MORE INFORMATION BECOMES AVAILABLE.
NOTE: P INDICATES PRELIMINARY DATA. SPECIAL CAUTION SHOULD BE TAKEN IN INTERPRETING WE2K-TO-WEEK CHANGES IN
MONEY SUPPLY DATA, WHICH ARE DPTEN HIGHLY VOLATILE AND SUBJECT TO REVISION IN SUBSEQUENT WEEKS AND
MONTHS. PRELIMINARY DATA ARE SUBJECT TO WEEKLY REVISIONS UNTIL THEY ARE FINAL.



H.6 (508)
Table 1A

MONEY STOCK MEASURES AND LIQUID ASSETS
Billions of dollars, not seasonally adjusted
M1-A

Currency
plus demand
deposits 1

Date

Addenda:

M1-B
M1-A plus
other checkable
deposits at banks
and thrift
institutions

Overnight RPs
at commercial
banks plus
overnight
Eurodollars 2

Money market
mutual fund
shares

M2
M3
M1-Bplus
M2 plus large
overnight RPs
time deposits
and Eurodollars,
MMMF shares, and and term RPs at
savings and small commercial banks
and thrift
time deposits at
institutions
commercial banks
and thrift 3
institutions

L

M3 plus other
liquid assets5

1980-MAR.

366.1

384.6

26.3

60.9

1551.4

1810.7

2204.5

APR.
NAT
J3NE

370.0
361.5
369.7

389-6
380.5
390.2

22-1
23.3
24.6

60-4
66-8
74.2

1558.6
1560.8
1589.4

1818.1
1821,7
1845.6

2221.3
2224-1
2241.0

JULY
AUG.
SEPT,

375.5
377.3
382.6

397.5
400-5
407.2

29,1
31.6
33-0

80-6
80.7
78.2

1618-0
1629.5
1642.3

1870-b
1886-6
1902.3

2259,6
2278-6
2296.2

OCT.
NOV. P
DEC. P

388.0
391.1
394.7

413.7
417.7
421.8

32.5
32.6
32.1

77.4
77.0
75-8

1656.9
1665.7
1674.8

1923-1
1942.1
1962.8

2318-0
2344.7
2372-4

1981-JAN. P
FEB. P
MAR. P

377.3
358.2
358.3

420.6
409.4
415-1

32.6
31.9
32.9

80.7
92.4
105*4

1684.8
1685.3
1711-6

1984.3
1986.6
2005-4

2400.5

P
P
P
P

358.8
361.1
359.2
353.3

413.0
417.4
415.9
410.6

35.6
33.9
32.1
30.5

98.0
101.2
104.9
109.1

1P

358.7

417-5

33-7

111-3

WEEK ENDING:

1981-MAR.

APR.

NOTE:

4
11
1b
25

SEE TABLE 1 FOR iOOTNOTBS-




H.6 (508)
Table 2

MONEY STOCK MEASURES AND LIQUID ASSETS
Percent change at seasonally adjusted annual rates

Date

M1-A

M1-B

Currency
plus demand
deposits 1

M1-Aplus
other checkable
deposits at banks
and thrift
institutions

M2
M1-Bplus
overnight RPs
and Eurodollars,
MMMF shares, and
savings and small
time deposits at
commercial banks
and thrift
institutions -*

M3
M2 plus large
time deposits
and term RPs at
commercial banks
and thrift
institutions ^

MAR.

FROM:

DEC.

1980

(3

MONTHS

PREVIOUS)

-20.8

9.4

9.7

10*0

SEPT.

1980

(6

MONTHS

PREVIOUS)

-9.7

6.7

8.5

10,8

MAR.

1980

(12

-2.2

7.7

10.3

10.7

MONTHS

APR.
FOUR WEEKS ENDING:
FROM FOUR WEEKS ENDING:

PREVIOUS)

1,

1981

DEC.

31.

1980

(13

WEEKS

PREVIOUS)

-20.4

10.3

OCT.

1,

1980

(26

WEEKS

PREVIOUS)

-9.9

6.8

APR.

2,

1980

(52 WEEKS

PREVIOUS)

-2.3

7.8

NOTE:

SEE TABL3 1 FOR FOOTNOTES.




H.6 (508)
Table 3

COMPONENTS OF MONEY STOCK MEASURES AND LIQUID ASSETS
Billions of dollars, seasonally adjusted unless otherwise noted

Other
1

Currency

Date

Demand
deposits2

checkable
deposits3

Overnight
RPs
(net) 4

Overnight
Eurodollars5

NSA

NSA

NSA

Money
market
mutual
fundsS
NSA

Savings deposits
at
at
commercial
thrift
banks
institutions

total

Small denomination time deposits?
at
at
thrift
commercial
total
institutions
banks

1980-MAR.

108.9

264.0

18.4

22.7

3.6

60.9

182.7

210.6

393.3

260.2

425.4

685.7

APR.
MAY
JUNE

109.0
110.2
111.0

257.7
256.9
259.9

19.5
19.0
20.4

19.4
20.5
21.7

2.7
2.8
2.9

60.4
66.8
74.2

176.3
175.6
180.6

203.1
199.6
204.0

379.4
375.2
384.6

271.5
274.7
274.0

4 33.8
440.6
441.8

705.3
715.3
715.8

JULY
AUG.
SEPT.

112.1
113.5
113.9

261.4
266.0
269.5

22.0
23.2
24.6

25.5

27.9
29.2

3.6
3.7
3.7

80.6
80.7
78.2

186.5
190.6
192.0

211.5
217.5
220.1

398.0
408. 1
412.1

273.3
273.5
275.0

439.1
439.1
441.4

712.U
712.6
716.4

OCTNOV. P
DEC. P

115.1
115.8
116.4

271.2
272.6
268.4

26.6
27.1

28.1
27.9
27.6

4.4
4.7
4.6

77.4
77.0

75.8

193.6
192.2
185.8

220.6
215.6
207.8

414.2
407.8
393.6

277.6
284.9
294.3

446.1
456.7
468,9

723.6
741.6
763.2

1981-JAN. P
FEB. P
MAR. P

116.6
117.3
117.9

256.2
248.8
246.9

43-3
51.2
56.9

27.4
26.9
28.4

4*9
4.4

80.7
92.4
105.4

177.3
173.0
170.9

199.9
194.4
192.0

377.2
367.5
362.9

303.2
307.7
311.8

474.8
478.7
482.6

778.0
786.5
794.4

P
P
P
?

117.7
117.4
117.9
118.0

54.2
56.3
56.7
57.3

98.0
101.2
104.9
109.1

171.3
171.4
170.7
170.5

310.4
311.0
311.7
312.3

118.4

30.9
29.8
27.5
26.3
29.0

4.7
4.1
4.5
4.2

1 P

248.0
248.2
245.8
245.2
246.6

4.7

111.3

171.1

312.6

25.7

WEEK ENDING;

1981-MAR.

APR.

1/
2/
3/
4/
5/
6/
7/

4
11
18
25

58.7

CURRENCY OUTSIDE THE U.S. TREASURY, F.R. BANKS AND VAULTS 0? COMMERCIAL BANKS.
DEMAND DEPOSITS AT COMMERCIAL BANKS AND FOREIGN RELATED INSTITUTIONS OTHER THAN THOSE DUE TO DOMESTIC BANKS, THE U.S. GOVERNMENT
AND FOREIGN BANKS AND OFFICIAL INSTITUTIONS LESS CASH ITEMS IN THE PROCESS OF COLLECTION AND F.R. FLOAT.
••-.,
INCLUDES ATS AND NOW BALANCES AT ALL INSTITUTIONS, CREDIT UNION SHARE DRAFT BALANCES AND DEMAND DEPOSITS AT MUTUAL S/LVJNGS
BANKSINCLUDES OVERNIGHT AND CONTINUING CONTRACT RPS ISSUED TO THE NONBANK PUBLIC BY COMMERCIAL BANKS, NET OF AMOUNTS HELD BY MONEY
MARKET MUTUAL FUNDS.
ISSUED BY CARIBBEAN BRANCHES OF U.S. MEMBER BANKS TO U.S. NONBANK CUSTOMERS.
TOTAL MONEY MARKET MUTUAL FUND SHARES OUTSTANDING.
SMALL DENOMINATION TIME DEPOSITS APE THOSE ISSUED IN AMOUNTS OF LESS THAN $100,000.




H.6 (508)
Table 3—continued

COMPONENTS OF MONEY STOCK MEASURES AND LIQUID ASSETS
Billions of dollars, seasonally ad usted unless otherwise noted
Large denomination time deposits1
at commercial
at thrift
Date
banks2
total
institutions

at commercial
banks
NSA

Term RPs3
at thrift
institutions
NSA

total
NSA

Term
Eurodollars
(net)4
NSA

Savings
bonds

Short-term
Treasury
securities^

Bankers
acceptances^

Commercial
paper7

195.4

34.1

229.5

22.2

6.7

28.9

49.2

76.8

137.2

27.9

99.8

APR.
HAY
JONE

197.5
197.2
192.7

34.9
35.9
35.9

232.4
233.1
228.6

22.5
22.5
23.5

6.7
6.5
6.5

29.1
28.9
30.0

49*9
50.3
48.9

75.2
74.0
73.3

147.2
152.1
148.7

28.5
28.3
29.1

100.6
99.5
96.5

JOLY
AOG.
SEPT.

187.8
186.6
189.0

36.2
36.7
37,8

224.0
223.3
226-8

24.7
27.3
26.4

6.5
6.5
7.0

31.1
33.8
33.5

48.4
48.4
45.2

72.8
72.6
73.2

144.7
147.2
154.8

28.9
28.5
30.0

95.8
96.6
98.7

OCT.
NOV. P
DEC. P

190.4
197.5
204.7

39.4
41.3
43.3

229.8
238.8
248.0

28.0
28.9
28.9

7.5
7.5
7.6

35.5
36.5
36-5

43.6
46.1
48.4

74.6
72.9
72.8

149. 1
149.7
157.6

31.0
32.5
34.2

99.0
99.2
100.1

1981-JAN. P
FEB. P
HAR. P

214.2
218.0
212.0

44.6
45.5
45.3

258.8
263.5
257.2

31.1
30.5
28.5

7.8
7.4
7.3

38.8
37.9
35.8

49.9

71.9

160.3

33.2

99.1

1980-HAR.

WEEK

ENDING:

1981-HAR.

APR.

1/
2/
3/
4/
5/
6/
7/

P
P
P
P

216.2
213.3
213.9
212.3

28.1
28.9
27.9
28.0

1 P

211.5

29.2

4
11
18
25

LARGE DENOHINATION TIHE DEPOSITS ARE THOSE ISS0ED IN AHO0NTS OP $100,000 OR MORE.
LARGE DENOHINATION TIME DEPOSITS AT COHHERCIAL BANKS LESS LARGE TIHE HELD BY HONEY HARKET HOTOAL FONDS AND THRIFT INSTITUTIONS.
TERH RPS ARE THOSE WITH ORIGINAL HATORITY GREATER THAN ONE DAY AND EXCL0DE CONTINOING CONTRACTS.
TERH EURODOLLARS ARE THOSE WITH ORIGINAL HATORITY GREATER THAN ONE DAY NET OF TERH EORODOLLARS HELD BY HONEY HARKEI MOTOAL
FONDS.
INCLUDES O.S. TREASURY BILLS AND COOPONS WITH REHAINING HATORITY OF LESS THAN 18 HONTHS HELD BY THE NONBANK POBLIC LESS S0CH
SECORITIES HELD BY HONEY HARKET HOTOAL FONDS.
NET OF BANKERS ACCEPTANCES HELD BY ACCEPTING BANKS, F.R. BANKS- FOREIGN OFFICIAL INSTITOTIONS, THE FEDERAL HOHE LOAN BANK
SYSTEH, AND HONEY HARKET HOTOAL FONDS.
TOTAL COHHERCIAL PAPER LESS COHHERCIAL PAPER HELD BY HONEY HARKET HUTOAL FONDS.




H.6 (508)
Table 3A

COMPONENTS OF MONEY STOCK MEASURES AND LIQUID ASSETS
Other checkable deposits

Demand deposits
Currency1

Date

at member
banks2

at domestic
nonmember
banks3

at foreignrelated
banking
offices
intheU.S.4

total

at
commercial
banks5

at thrift
institutions 6

total

1980-MAF.

107.9

164.9

86.5

6.7

258.2

13.9

4.6

18.4

APR.
MAY
JUNE

108.7

109.9
111.2

168.6
161.3
166.1

87.0
84.3
86.2

5.7
5.9
6.3

261.3
251.5
258.6

14.8
14.2
15-5

4-8
4.8
4-9

JULY
AUG.
SEPT.

112.7
113.7
113-7

167.9
169.2
173.1

87.9
88.3
89.9

6.9
6.1
5.9

262.7
263.6
268*9

16.9
18.0
18-9

OCT.
NOV. P
DEC. P

114.9
116.6
118,. 5

175.7
175.7
177.2

91.5
92.7
92.7

5.9
6.1
6.2

273. 1
274.5
276-2

115.8
115.9
116.8

166.1
151.3
151.0

89.6
85.2
84.8

5.9
5.7
5-6

25 P

116.0
117.4
117.1
116.6

151.5
152.3
151.4
147.6

85.1
85.8
85.2
83.5

6.1
5.7
5.5
5.6

1 P

116.8

151.8

84.6

5.6

1981-JAN. P
FEB. P
MAR. P

Overnight
RPs(net)7

Overnight Money market
Eurodollars8 mutual funds9

22.7

3.6

60.9

19-5

19-4

2(f.5
21.7

2.7
2"-. 8
2-9

60.4

19.0
20-4

66.8
74,2

5.1
5.2
5.6

22.0
23.2
24.6

25.5
27.9
29.2

3.6
3.7
3.7

80.6
80.7
78.2

19.8
20.6
21.0

5.9
6.0
6.1

25.7
26.6
27.1

28.1
27.9
27.6

4.4
4.7
4.6

77-4
77.0
75.8

261.5
242.3
241.4

34.7
41.4
46.0

8,-6
9.9
10.8

43.3
51.2
56.9

27.4
26.9
28.4

5.1
4.9
4.4

80.7
92.4
105.4

242.8
243.7
242.1
236.7

43.9
45.6
46.0
46.4

10.3
10.7
10.7
10.9

54.2
56.3
56.7
57.3

30.9
29.8
27.5
26.3

4.7
4.1
4.5
4.2

98.0
101.2
104.9
109. 1

241.9

47.6

11.2

58.7

29.0

4.7

111.3

WEEK ENDING:

1981-HAR.

APR.

1/
2/
3/
4/
5/
6/
7/
8/
9/

4 P
11 P
18 P

CURRENCY OUTSIDE THE U.S. TREASURY, F.R. BANKS AND THE VAULTS OF COMMERCIAL BANKS.
DEMAND DEPOSITS OTHER THAN THOSE DUE TO DOMESTIC BANKS, THE U.S. GOVERNMENT AND FOREIGN BANKS AND OFFICIAL INSTITUTIONS LESS
CASH ITEMS IN THE PROCESS OF COLLECTION AND F.R. FLOAT AT MEMBER BANKS OF THE FEDERAL RESERVE SYSTEM.
DEMAND DEPOSITS OTHER THAN THOSE DUE TO DOMESTIC BANKS, THE U.S. GOVERNMENT AND FOREIGN BANKS AND OFFICIAL INSTITUTIONS LESS
CASH ITEMS IN THE PROCESS OF COLLECTION AT NONMEMBER BANKS.
DEPOSITS AS DESCRIBED IN FOOTNOTE 3 AT AGENCIES AND BRANCHES OF FOREIGN BANKS, EDGE ACT CORPORATIONS AND FOREIGN INVESTMENT
COMPANIES.
NOW AND ATS ACCOUNTS AT BANKS.
NOW ACCOUNTS AT THRIFT INSTITUTIONS, CREDIT UNION SHARE DRAFT BALANCES AND DEftAND DEPOSITS AT MUTUAL SAVINGS BANKS.
INCLUDES OVERNIGHT AND CONTINUING CONTRACT RPS ISSUED TO THE NONBANK PUBLIC BY COMMERCIAL BANKS NET OF AMOUNTS HELD BY MONEY
MARKET MUTUAL FUNDS.
ISSUED BY CARIBBEAN BRANCHES OF U.S. MEMBER BANKS TO U.S. NONBANK CUSTOMERS.
TOTAL MONEY MARKET MUTUAL FUND SHARES OUTSTANDING.




H.6 (508)
Table 3A—continued

COMPONENTS OF MONEY STOCK MEASURES AND LIQUID ASSETS
at commercial
banks

Date

at savings
and loans

Savings deposits
at mutual
at
savings banks
credit unions

total

at commercial
banks
261.0

333.8

83.3

10.9

689.0

42.7
42.2
43.2

381,8
376.9
386,9

271*8
275.8
275.4

339.3
341.7
341.7

85.6
86.9
87.1

11.2
12.0
12.4

707.9
716.4
716.6

55.7
56.6
57.0

44.9
45.5
46.0

401.0
408.8
412.4

273-6
273.2
275,. 0

340.2
338.5
339.8

86.9
86.8
87.3

12.2
12.6
12.7

712.9
7T1. 1
714.9

117.2
113.9
109.0

56.7
55.4
53.5

46.2
45.4
44.2

412.9
405.8
390.9

278.4
282.7
291.3

343.7
349.1
358.0

88.5
90.0
92.6

13-1
14.1
15.5

723,. 7
735.9
757.4

103.7
100.5
101.0

51.7
50.2
49.0

43.0
41.9
41.7

374.9
364.7
363.2

302.6
308.7
312.8

365.3
367.9
369.1

94-8
96.2
98.2

16.5
17.4
18.2

779.2
790-2
798.2

183-4

111.1

56.3

42.9

APR.
HAY
JONE

178.0
176.7
181.2

106.8
104.8
108..3

54.3
53.2
54.2

JULY
A06.
SEPT.

187.6
190.8
191.6

112-9
116.0
117-7

OCT.
NOV. P
DEC, P

192.9
191.0
184.1

1981-JAN. P
FEB. P
NAB. P

176.5
172.1
171.6

'

WEEK ENDING:

APR.

1/

4
11
18
25

P
P
P
P

170.7
171.4
171.3
171.6

311.6
312.3
313,2
313.2

1 P

172.7

312.9

SHALL DENOMINATION TIME DEPOSITS ARE THOSE ISSUED IN AHOONTS OF LESS THAN $100 r 000.




total

393.6

1980-MAR.

1981-HAR.

Small denomination time deposits1
at mutual
at
at savings
credit unions
savings banks
and loans

H.6 (508)
Table 3A—continued

COMPONENTS OF MONEY STOCK MEASURES AND LIQUID ASSETS
Billions of dollars, not seasonally adjusted
Large denomination time deposits'1
at mutual
at
commercial
savings
at savings
total
banks2
banks
and loans

Date

Term RPs3
at
commercial
banks

at thrift
institutions

Term
total

Eurodollars
(net)4

Savings
bonds

Short-term
Treasury
securities5

Commercial
Bankers
acceptances^
paper?

1980-MAR.

197.0

30.6

2.e

230.4

22.2

6.7

28.9

49.2

76.8

139.0

20.9

99.8

APR,.
MAY
JUNE

195.9
196,2
189.8

31.6
32.8
33.5

2.9
2.9
2.9

230.4
231.9
226.2

22.5
22.5
23.5

6.7

6.5
6.5

29.1
28.9
30.0

49.9
50.3
48.9

75.1
73.9
73.5

148.5
151.9
146.2

29.0
29.0
29.4

100.7
97.4
97.3

JULY
AUG.
SEPT.

184.6
185.4
187.7

34.1
35.0
35.9

2.9
2.9
2.9

221.7
223.3
226.5

24.7
27.3
26.4

6.5
6.5
7.0

31.1

33.8
33.5

48.4
48.4
45.2

73.3
73.2
73.1

142.1
146.0
148.8

28.8
28.8
30.0

96.2
95.6
96.8

OCT.
NOV. P
DEC. P

190.6
198.9
209.4

37.1
38.0
39.1

3.0
3.0
3.0

230.7
240.0
251.5

28.0
28.9
28.9

7.5
7.5
7.6

35.5
36-5
36.5

43.6
46.1
48.4

73.0
72.9
72.7

149.4
152.0
157.0

30.8
31.3
31.4

98. 1
100.3
100.0

1981-JAN. P
FEB. P
MAR. P

217.2
219.0
213.7

40.4
41.1
41.2

3.1
3.3
3.2

260.7
263.4
258.0

31.1
30.5
28.5

7.8
7.4
7.3

38.8
37.9
35.8

49.9

71.9

163.5

32.1

98.8

WEEK ENDING:

1981-MAR.

APR.

P
P
P
P

217.8
215.2
215.5
214.1

28.1
28.9
27.9
28.0

1 P

213.0

29.2

4
11
18
25

I
1/
2/
3/
4/
5/
6/
7/

LARGE DENOMINATION TIME DEPOSITS ARE THOSE ISSUED IN AMOUNTS OF $100,000 OR MORE.
LARGE DENOMINATION TIME DEPOSITS AT COMMERCIAL BANKS LESS LARGE TIME HELD BY MONEY MARKET MUTUAL FUNDS AND THRIFT
INSTITUTIONS.
TERM RPS ARE THOSE WITH ORIGINAL MATURITY GREATER THAN ONE DAY AND EXCLUDE CONTINUING CONTRACTS.
TERM EURODOLLARS ARE THOSE WITH ORIGINAL MATURITY GREATER THAN ONE DAY NET OF TERM EURODOLLARS HELD BY MONEY MARKET MUTUAL
FUNDS.
INCLUDES U.S. TREASURY BILLS AND COUPONS WITH REMAINING MATURITY OF LESS THAN 18 MONTHS HELD BY THE NONBANK PUBLIC LESS SUCH
SECURITIES HELD BY MONEY MARKET MUTUAL FUNDS.
NET OF BANKERS ACCEPTANCES HELD BY ACCEPTING BANKS, F.R. BANKS, FOREIGN OFFICIAL INSTITUTIONS, THE FEDERAL HOME LOAN BANK
SYSTEM, AND MONEY MARKET MUTUAL FUNDS.
TOTAL COMMERCIAL PAPER LESS COMMERCIAL PAPER HELD BY MONEY MARKET MUTUAL FUNDS.




H.6 (508)
Table 4

MEMORANDA ITEMS
Billions of dollars, not seasonally adjusted
Demand deposits at banks due to
foreign commercial
banks

Date

foreign official
institutions

Time and savings
deposits due to
foreign commercial
banks and foreign
official institutions

demand deposits at
Federal Reserve
commercial banks
Banks

U.S. government deposits
note balances at
commercial
banks and thrift
institutions

total demand
deposits and
note balances

time and
savings deposits at
commercial banks

1980-HAR.

12.8

3.2

9.4

2.7

2.7

5.1

10.5

0.9

APR.
HAY
JONE

12.4
13.0
11.9

3.8
3.7
3.2

10.1
10.5
11.1

3.6
2.6
3.2

2.6
2.8
2.9

5.4
5.9
6.8

11.7
11.3
13.0

0.9
0.9
0.8

JULY
AUG.
SEPT.

11.8
11.2
11.3

3.3
3.2
2.9

11.1
11.1
11.4

3.2
2.8
3.2

3.1
3.3
3.3

6.1
6.5
11.0

12.4
12.6
17.4

0.8
0.8
0.9

OCT.
NOV.
DEC.

P
P

11.5
11.9
12.0

3.0
3.4
3.6

11.6
11.5
11.7

3.0
2.5
2.7

3.2
3.0
2.7

9.7
4.1
6.3

16.0
9.6
11.7

0.8
0.8
0.8

1981-JAN.
FEB.
HAH.

P
P
P

11.3
12.2
11.4

3.4
3.5
3.2

11.6
11.5
11.4

2.8
2.7
2.7

3.2
3.3
3.0

5.1
5.4
7.5

11.1
11.4
13.2

0.8
0.8
0.8

10.6
11-7
11.1
11.3

3.6
3.2
3.3
2.8

11.2
11.2
11.4
11.5

2.7
2.5
4.0
Z.3

2.7
3.0
3.1
3.2

6.9
3.9
5.9
11.2

12.3
9.4
13.0
16*7

0.8
0.8
0.8
0.8

12.3

3.5

11.4

2.0

2.9

9.7

14.6

0.8

WEEK E N D I N G :

1931-BAR.

4 P

11 P
18 P
25 P
APR.




1 P

SPECIAL SUPPLEMENTARY TABLE
Variable Ceiling Time Deposits at All Insured
Commercial Banks and All Mutual Savings Banks
January 28, 1981, February 25, 1981, and March 25, 1981
(Not seasonally adjusted) 1
Insured Commercial Banks
January 28
February 25
March 25p

Mutual Savings Banks
January 28
February 25
March 25p

Amount outstanding:
(millions of dollars)
2
6-month money market certificates
(Standard error of the estimate)
2-1/2 year and over variable
ceiling certificates^
(Standard error of the estimate)

188,382
(1,800)

192,718
(2,054)

196,154
(2,388)

49,825
(647)

51,493
(499)

51,873
(829)

31,991
(821)

33,870
(855)

34,937
(931)

12,918
(516)

13,014
(335)

14,122
(538)

14,213

14,298

14,291

461

462

462

14,213

14,298

14,291

461

462

462

89. 3

94.0

100. 0

90. 7

88. 3

100.0

96.0

95.5

95. 3

97. 5

98. 5

100.0

Number of offering institutions^
6-month money market certificates
2-1/2 year and over variable
ceiling certificates

2

Percent of offering institutions
paying the ceiling rate during
the survey period:
6-month money market certificates
2-1/2 year and over variable
ceiling certificates

2

1. Estimates for March are based on data collected by the Federal Reserve and the FDIC from a stratified random sample
of 458 commercial banks and 67 mutual savings banks.
2. Money market certificates (MMCs) are nonnegotiable time deposits in denominations of $10,000 or more with original
maturities of exactly 26 weeks for which the maximum permissible rate of interest on new deposits is related to the
discount yield on the most recently issued 6-month Treasury bill (auction average). See Table 1.16 in the Federal
Reserve Bulletin for specific ceiling rates.
3. This category includes all 4-year and over variable ceiling accounts having no legal minimum denomination issued
between July 1 and December 31, 1979 and all such 2-1/2 year and over variable ceiling accounts issued since January 1,
1980. See Table 1.16 in the Bulletin for specific ceiling rates.
p--Preliminary.