Full text of H.6 Money Stock Measures : August 12, 1983

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FEDERAL RESERVE statistical release
H6 (508)
Table 1

For Release at 4:15 prn Eastern Time

MONEY STOCK MEASURES AND LIQUID ASSETS

A0G.

Billions of dollars
M1

sum of
currency,
travelers
checks,
demand
deposits and
other
checkable
deposits1

Date

M3
M2
Seasonally adjusted
M1 plus
overnight RPs
and Eurodollars, M2 plus large
time deposits,
MMMF
balances (gen. term RPs and
institution-only
pur. and
MMMF
broker/dealer),
balances3
MMDAs,
and savings
and small time
deposits2

L

*~

"—Ml"

sum of
currency,
travelers
checks,
demand
deposits and
other
checkable
deposits1

M3 plus other
liquid assets4

i

M2,
. M3
Not seasonally adjusted
M1 plus
overnight RPs
and Eurodollars, M2 plus large
time deposits,
MMMF
balances (gen. term RPs and
institution-only
pur. and
MMMF
broker/dealer),
balances3
MMOAs,
and savings
and small time
deposits2

1 2 , 1983
L

M3 plus other
liquid assets4

1982—JOLT
AUG.
SEPT.
OCT.
NOV.
DEC.

454.4
458.3
463.2
468.7
474.0
478.2

1880.9
1903.6
1917.0
1929.7
194 5.0
1959.5

2283.4
2317.9
2333.9
2352.0
2370.2
2377.6

2798.2
2823.6
2840.5
2866.0
2882.4
2896.8

454.3
454.3
461.0
470.6
479.0
491.0

1883.0
1896.5
1908.7
1928.6
1943.6
1964.5

2280.8
2308.8
2324.4
2350.4
2369.2
2385.3

2790.0
2811.8
2825.5
2860.9
2881.3
2904.7

1983—JAN.
FEB.
fUfi.
APR.
HAY
JUNE
JULY P

482.1
491.1
497.6
496.5
507.4
511.7
515.5

2010.0
2050.8
206 9.9
2074.7
2096.2
212 4 . 8
2125.8

2401.3
2430.6
2447. 1
2454.0
2476.5
2499.0
2509.9

2930.7
2960.5

489.7
480.6
489.2
504.4
499.8
508.3
514.7

2018.3
2042.5
2065.9
2088.4
2092.7
2114.6
2127.3

2415.1
2427.0
2445.8
2465.5
2471.7
2495.6
2507.7

2945.6
2964.9

M1
For period ended

13-week
average

Seasonally adjusted
4-week
average

week average

13-week
average

Not seasonally adjusted
4-week
average

week average

1983-JdLY

6
13
20
27 P

506.1
507.5
509.2
510.8

511.3
512.1
513.3
515.6

514.3
514.6
516.1
517.2

505.0
505.8
506.3
507.1

510.3
512.1
513.9
515.7

523-9
520.4
513.8
504.7

AUG.

3P

512.2

516.4

517.6

508.2

513.0

512.9

NOTE:

SPECIAL CAUTION SHOULD BE TAKER I I INTERPRETING MEEI-TO-IBEK CHARGES IM HOIST SUPPLY DATA, BHICH ARE
HIGHLY VOLATILE AND SUBJECT TO REVISION.
P—INDICATES PRELIHINABY DATA.
FOOTNOTES APPEAR OH THE FOLLOWING PAGE




^.6(508)
Table 2

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

M1

M2

M3

3 MOUTHS FBOfl APB.

1 9 8 3 TO JOLT

1983

15.3

6 MONTHS FBOfl JAN.

1 9 8 3 TO JOLT

1983

13.9

11.5

8.9

12 MONTHS FBOfl JOLT

1 9 8 2 TO JOLT

1983

13.4

13.0

9.9

9.9

9.1

THIHTEB* WEEKS EM DUG
AUG.
3 , 1983
FBOfl THIBTEEM WEEKS ENDING:

1/

2/

3/

4/

flAI

4,

1983

( 1 3 HEEKS PREVIOUS)

13.5

FEB.

2,

1 9 8 3 ( 2 6 WEEKS PHETIOOS)

14.0

AUG.

4,

1982

12.9

( 5 2 WEEKS PREVIOUS)

FOOTNOTES TO TABLE 1
AVERAGES OF DAILY FIGDBES FOB (1) CURRENCY OOTSIDE THE TREASURY. FEDSBAL RESERVE BANKS, AND
THE VAULTS OF COHHERCIAL BANKS; (2) TRAVELERS CHECKS OF NONBANK ISSUERS; (3) DEHAND DEPOSITS
AT ALL COHMEBCIAL BANKS OTHEB THAN THOSE DUE TO DOHBSTIC BANKS, THE U.S. GOVERNMENT, AND
FOBEIGN BANKS ABD OFFICIAL INSTITUTIONS LESS CASH ITEMS IB THE PBOCESS OF COLLECTION AND
FEDERAL RESERVE FLOAT; AND (4) OTHEB CHECKABLE DEPOSITS (OCD) CONSISTING OF NEGOTIABLE
ORDER OF WITHDRAWAL (NOW) AMD AUTOMATIC TRANSFER SERVICE (ATS) ACCOUNTS AT DEPOSITORY
INSTITUTIONS OTHEB THAN CBEDIT UNIONS, CBEDIT UNION SHABE DBAFT ACCOUNTS, AND DEMAND
DEPOSITS AT THRIFT INSTITUTIONS. THE CUBBE8CY AND DEMAND DEPOSIT COMPONENTS EXCLUDE THE
ESTIMATED AMOUNT OF VAULT CASH AND DEMAND DEPOSITS, RESPECTIVELY, HELD BY THBIFT INSTITUTIONS
TO SEBVICB THEIB OCD LIABILITIES.
INCLUDES OVERNIGHT (AND CONTINUING CONTRACT) RPS ISSUED BY ALL COMMERCIAL BANKS AND EURODOLLARS
ISSUED BY FOBEIGN (PRINCIPALLY CARIBBEAN AND LONDON) BBANCHES OF U.S. BANKS, HMDAS, SAVINGS
AND SHALL DENOMINATION TIME DEPOSITS (TIME DEPOSITS—INCLUDING BETAIL BPS—IN AMOUNTS OF LESS
THAN $100,000), AID BALANCES IN BOTH TAXABLE AND TAX-EXEMPT GENERAL PUBPOSE AND BROKER/DEALER
MONEY MARKET MUTUAL FUNDS. EXCLUDES IRA AND KEOGH BALANCES AT DEPOSITOBY INSTITUTIONS AND M0N3Y
MARKET FUNDS. ALSO EXCLUDES AMOUNTS HELD BY U.S. COMMERCIAL BANKS, MONET MARKET FUNDS (GENERAL
PUBPOSE AND BBOKEfi/DEALEB), FOBEIGN GOVEBNMENTS AND COMMERCIAL BANKS, AND THE U.S. GOVERNMENT.
M2 WILL DIFFEB FROM THE SUM OF COMPONENTS PBESENTED IN SUBSEQUENT TABLES BY A CONSOLIDATION
ADJUSTMENT THAT BEPRBSENTS THE ESTIMATED AMOUNT OF DEHAND DEPOSITS AND VAULT CASH HELD BY
THRIFT INSTITUTIONS TO SERVICE TIME AND SAVINGS DEPOSITS.
INCLUDES LABGE DENOMINATION TIME DEPOSITS AND TERM BPS (IN AMOUNTS OF $100,000 OB MORE) ISSUED
BY COMMERCIAL BANKS AND THRIFT INSTITUTIONS, EXCLUDING THOSE HELD BY DEPOSITOBY INSTITUTIONS,
THE U.S. GOVEBNMENT, MONEY MARKET FUNDS, AND FOREIGN BANKS AND OFFICIAL INSTITUTIONS. M3 WILL
DIFFEB FROfl THE SUM OF COMPONENTS PBESENTED IN SUBSEQUENT TABLES BY A CONSOLIDATION ADJUSTMENT
THAT REPBESENTS THE ESTIMATED AMOUNT OF OVERNIGHT RPS HELD BY INSTIT9TIOI-OILY HONEY MARKET
MUTUAL FUNDS.
OTHER LIQUID ASSETS INCLUDE THE NOBBANK PUBLIC HOLDING OF U.S. SAVINGS BOIDS, SHORT-TEHrt
TREASURY SECURITIES, COMMERCIAL PAPER, BANKERS ACCEPTANCES, AND TERM EUBODOLLABS HELD BY U.S.
BESIDENTS, NET OF SONET MARKET MUTUAL FUND HOLDINGS OF THESE ASSETS.




H.6 (508)
Table 3

COMPONENTS OF MONEY STOCK MEASURES AND LIQUID ASSETS

3

Billions of dollars, seasonally adjusted unless otherwise noted

Date

Currency1

Travelers
checks2

Other
Overnight
Demand checkable
RPs5
4
deposits3 deposits
NSA

1982-JULY
AUG.
SEPT.

128.8
129.6
130.5

Overnight
Eurodollars6
NSA

Money
market
deposit
accounts?
NSA

Savings deposits 8
at
commercial
banks

at

thrift

total

Institutions

Smail denomination
time deposits'9
at
at
commerthrift
total
cial
institutions
banks

Money market
mutual fund balances'! 0
general
purpose institution
and broker/
only
dealer

232. 1
232.5
234.0

89.1

1.4

91.8
94.3

33.3
34.0
34.1

8.5
8.4
7.4

0.0
0.0
0.0

158.2
158.4
159.6

186.8
188.3
190.4

345.0
346.7
350.0

383.8
388.6
391.4

489.2
491.2
491.8

872.9
879.8
883.2

172.9
182.3
185.1

40.4
47.1
48.2

0.0
0.0

195.7
200.1
195.9

358.0
366.4
359.3

389.9
389.2
383.2

488.1
485.8
475.9

878.0
874.9
859.1

187.6
191.1
182.2

49.3
49.9
47.6

4.4

OCT.
HOY.
DEC.

131.3
131.9
13 2.8

11. 4
>.2

236.0
237.6
239.8

97.0
100.1
101.3

37.4
38.5
38.5

6.5
6.7
5.8

43.2

162.3
166.2
163.4

1983-JAN.
FEB.
BAH.

134.2
135.6
137.0

1.1
1.3
1.5

239.4
238.7
240. 1

104.5
112.5
116.0

40.1
41.0
40.9

7.2
7.8
7.8

189.1
277.7
320.5

151.7
144.7
142.3

183.3
181.0
180.4

335.1
325.7
322.7

356.7
337.7
326.8

440.7
417.4
407.0

797.4
755.1
733.8

166.7
159.6
154.0

46.1
45.2
43.5

APR.
HAT
JUNE

138.0
139.3
140.3

».6
U7

>.7

238.9
242.5
244.0

114.9
120.9
122.7

42.5
46.0
47.1

8.1
9.1
9.4

341.2
356.8
367.3

140.8
140.8
140.8

180.7
182.3
184.2

321.5
323.0
325.0

321.5
318.8
319.5

404.2
401.4
402.6

725.7
720.1
722.1

146.7
141.1
139.6

41.0
40.4
39.2

JOLT P

140.8

4.6

245.8

124.2

43.4

9.2

368.4

139.6

183.9

323.5

326.1

409.0

735.1

138.4

38.6

9.1
7.8
9.3

140.6
139.9
139.4
139.1

323.5
324.9
326.4
327.7

138.1
138.8
138.7
138. 1

38.8
38.5
38.5
38.5

138.7

329.2

138.3

38.4

WEEK E I D I I G
1983
JOLT

AOG.

1/

6
13
20
27 P

140.8
140.3
140.8
141.1

246.4
246.6
245.8
246.0

122.5
123.2
124.8
125.4

46.2
43.2
43.4
42.2

10.2

368.2
368.8
368.6
368.0

3 P

141.3

245.3

126.4

41.5

9.9

368.0

C0RREHCI OUTSIDE THB U.S. TREASURY, P.B. BANKS AMD TAULTS OP COHHERCIAL BARKS. EXCLUDES THE ESTIMATED AHOUHT OF VI0LT CASH
HELD BY THRIFT INSTITUTIONS TO SERVICE THEIR OCD LIABILITIES.
2/ OUTSTANDING AHOONT OF U.S. DOLLAR-DEHOHIWATED TRAVELERS CHECKS OP NONBANK ISSUERS.
3/ DEHAND DEPOSITS AT COHHERCIAL BAIKS AMD FOREIGN RELATED INSTITUTIONS OTHER THAN THOSE DOE TO DOHESTIC BASKS. THB U.S. GOVBRHHENT AMD FOREIGN BANKS AND OFFICIAL INSTITUTIONS LESS CASH ITEHS IN THB PROCESS OF COLLECTION AND F.R. FLOAT. BXCLUDBS THE
ESTIMATED AflOUNT OF DEHAND DEPOSITS HELD AT COHHERCIAL BANKS BY THRIFT INSTITUTIONS TO SERVICE THEIR CCD LIABILITIES.
4/ INCLUDES ATS AND NOW BALANCES AT ALL DEPOSITORY INSTITUTIONS EXCEPT CREDIT UNIONS, CREDIT UNION SHARE DRAFT BALANCES AND
DEHAND DEPOSITS AT THRIFT INSTITUTIONS. OTHER CHECKABLE DEPOSITS SEASONALLY ADJUSTED EQUALS DEHAND DBPOSITS PLUS OCD
SEASONALLY ADJUSTED LESS DEHAND DEPOSITS SEASONALLY ADJUSTED. HOW ACCOUNTS INCLUDE CEILING FREE "SUPER HOWS,"
AUTHORIZED BY THE DEPOSITORY INSTITUTIONS DEREGULATION COHHITTEB TO BE OFFERED BEGINNING JANUARY 5, 1983. PRELIHINARY
DATA INDICATE THAT BALANCES IN "SUPER NOUS" HERE ABOUT $32.9 BILLION IN THE WEEK ENDED JULY 20. ABOUT $32.7 BILLION
IN THE WEEK ENDED JULY 27, AND ABOUT $33.3 BILLION IN THB HBBK ENDED AUGUST 3. THESE FIGURES INCLUDE BALANCES IN
"SUPER NOUS" AT COHHERCIAL BANKS OF ABOUT $23.1 BILLION IN THE WEEK ENDED JULY 20 AND ABOUT $23.0 BILLION IN THE
NEEK ENDED JULY 27. FIGURES FOR THE LATEST WEEK ARE NOT YET AVAILABLE BY TYPB OF INSTITUTION.
5/ INCLUDES OVERNIGHT AND CONTINUING CONTRACT RPS ISSUED BY COHHBRCIAL BANKS TO OTHER THAN DEPOSITORY INSTITUTIONS AND HONEY
HARKET HUTUAL FUNDS (GENERAL PURPOSE AND BROKER/DEALER).
6/ ISSUED BY FOREIGN (PRINCIPALLY CARIBBEAN AND LONDON) * BRANCHES OF U.S. BANKS TO 0.S. RESIDENTS OTHBR THAN
DEPOSITORY INSTITUTIONS AND HONEY HARKET HUTUAL FUNDS.
7/ HONEY HARKET DEPOSIT ACCOUNTS (HHDAS) WERE AUTHORIZED BI THB DEPOSITORY INSTITUTIONS DEREGULATION COHHITTEE TO BE OFPERED
BEGINNING DECEMBER 14, 1982.
8/ SAVINGS DEPOSITS EXCLUDE HHDAS.
9/ SHALL DENOMINATION TIME DEPOSITS — INCLUDING RETAIL EPS — ARE THOSE ISSUED IN AHOUNTS OF LESS THAN $100,000. ALL INDIVIDUAL
RETIREMENT ACCOUNTS (IRA) AND KEOGH ACCOUNTS AT COMMERCIAL BANKS AND THRIFTS ARE SUBTRACTED FROM SHALL TIME DEPOSITS.
10/ NOT SEASONALLY ADJUSTED, INCLUDES BALAUCES IN BOTH TAXABLE AND TAX-EXEMPT FUNDS. ALL INDIVIDUAL RETIREMENT ACCOUNTS
AND KEOGH ACCOUNTS AT HONEY FOHDS ARE EXCLUDED,



H.6 (508)
Table 3—continued

COMPONENTS OF MONEY STOCK MEASURES AND LIQUID ASSETS
511110ns OT aoliars, seasonally aa usiea unless OT lerwise notea
Large denomination time deposits1
at thrift
at commercial
Date
banks2
institutions
total

Term 4
Eurodollars

at commercial
banks

Term RPs3
at thrift
institutions

total

NSA

NSA

NSA

Savings
bonds

Short-term
Treasury
securities^

Banker^
acceptances^

Commercial
paper7

NSA

271.7
273.6
273.6

60.4
61.3
62.5

332.1
334.9
336.1

22.7
25.4
24.6

11.8
11.6
11.8

34.5
37.0
36.4

83.7
80.9
80.6

67.6
67.5
67.5

202.9
204.1
203.6

42.0
41.3
41.4

118,7
112,0
113.7

OCT.
NOV.
DBC.

275.3
273-7
267.0

64.3
66.8
66.7

339.6
340.4
333.8

26.0
27.8
28.2

n.7
11.6
12.1

37.7
39.4
40.3

81.1
79.5
80.1

67.6
67.8
67.9

210.3
214.5
217.6

42.8
43.1
44.9

112.3
107.3
108.8

1983—JAR.
FEB.
HAH.

247.6
235.2
231.6

63.1
62.7
64.6

310.7
297.9
296.2

27.9
28.6
29.4

12.6
12.2
12.3

40.6
40.8
41.7

81.2
83.8

68.1
68.5

219.3
219.3

45.3
43.2

113.5
115. 1

APB.
HAT
JUBE

231.1
227.0
228.7

69.2
72.5
75.3

300.4
299.5
304.0

30.3
32.7
31.6

12.4
12.5
13.0

42.7
45.3
44.6

JOLT P

226.1

79.8

305.9

29.6

13.2

42.8

19 8 2 - JOLT
AUG.
SEPT.

WEEK BBOIBG:

1983-JULI

27 P

227.4
227.5
226.3
226.2

29.6
27.8
29.8
30.4

3P

226.4

30.9

6
13
20

AOG.

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

LARGE OBBOHIBATIOB TXBB DEPOSITS ABB THOSE ISSUED IB AHOOBTS OF $100,000 OB flOBB, BXCL0DIBG THOSE BOOKED AT INTERNATIONAL
BANKING FACILITIES (IBFS).
LABGE DEBOHIMATIOB TIfiB DEPOSITS AT COHHBRCIAL BASKS LESS LABGB TIRE HELD BT HOBET MARKET MUTUAL FORDS AID THRIFT INSTITUTIONS.
TEBH EPS ABE THOSE WITH OBIGIHAL HATORITT GREATER THAB OBE DAT, EXCLODIBG COMTIBOIHG CONTRACTS AND RETAIL EPS.
TBBH EURODOLLARS ARE THOSE «ITH ORIGINAL HATURITI GREATER THAN ONE DAI EXCLUDING THOSE HELD BT DBPOSITORT INSTITUTIONS AND
HONBT HARKBT BUTUAL FUNDS.
INCLUDES U.S. TBBASURX BILLS AND COUPONS PITH REN AIRING HATURITT OF LBSS THAN 18 MONTHS HELD BT OTHER THAN DEPOSITOR! INSTITUTIONS, F.R. BANKS, AND MONET HARKET MUTUAL FUNDS.
BET OF BANKERS ACCEPTANCES HELD BT ACCEPTING BANKS, F.B. BANKS, FOREIGN OFFICIAL INSTITUTIONS, THB FEDERAL HOME LOAN BANK
STSTEH, AND MONET HABKBT MUTUAL FUNDS.
TOTAL COHHEBCIAL PAPER LESS COHHBRCIAL PAPER HELD BT HONET MARKET MUTUAL FUNDS.




Table 3A

COMPONENTS OF MONEY STOCK MEASURES AND LIQUID ASSETS
Billions of dollars, not seasonally adjusted
Other checkable deposits

Demand deposits

Date

1

Currency

Travelers
checks2

at member
banks3

at domestic
nonmember
banks4

at foreignrelated
banking
offices
In the U.S.5

total 6

at
commercial
banks7

at thrift
Institutions8

total

Overnight
Overnight
R P s / ' Eurodollars

129.8
130.1
130.2

j

11.9
11.7

151.0
150.1
152.5

77.4
76.2
77.0

3.7
3.7
3.9

231.7
229.6
232.9

69.3
70.7
73.4

18.5
19.1
19.9

87.9
89.8
93.3

33.3
34.0
34.1

8.5
8.4
7.4

OCT.
•Of,
D1C.

131.3
132.7
135.2

11.4
^1.2
i1.0

155-7
158.0
163.3

78.3
79.3
81.0

4.0
3.9
3.9

237.6
240.6
247.7

76.1
79.2
81.0

21.2
22.3
23.1

97.3
101.5
104.0

37.4
38.5
38.5

6.5
6.7
5.8

19 8 3 * JAB.
FEB.
BAB.

133.2
133.7
135.4

1.9
i1.1
J1.3

161.9
153.4
155.4

80.1
76.2
76.5

3.7
3.6
3.7

245.1
232.8
235.2

82.4
83.6
86.7

25.1
26.4
27.7

107.5
110.0
114.3

40.1
41.0
40.9

7.2
7.8
7.8

APB.
HAT
JOBB

137.4
138.9
140.3

11.4
(1.9

160.1
157.4
160.2

79.0
77.5
78.6

3.8
3.7
3.7

242.4
238.2
242.1

90.8
88.7
90.7

29.5
29.5
30.3

120.2
118.2
121.0

42.5
46.0
47.1

8.1
9.1
9.4

JOLI P

142.0

5.1

162.7

79.2

3.7

245.1

91.7

30.8

122.5

43.4

9.2

1982-JOLI
AUG.
SEPT.

1.9

1.5

1 0

ffBBK BBDIBG:
1983-JOLY

6
13
20
27 P

143.3
142.3
141.6
140.7

166. 3
165.1
163.1
158.9

81.6
80.7
78.8
76.4

3.9
3.7
3.6
3.7

251.3
249.0
245. 1
238.6

93.0
92.7
91.3
90.1

31.3
31.3
30.6
30.1

124.2
124.0
121.9
120.2

46.2
43.2
43.4
42.2

9.1
7.8
9.3
10.2

A«G.

3 P

141.6

161.4

78.6

3.8

243.3

91.7

31.1

122.8

41.5

9.9

1/

CUBBBICY O0TSIDB TBB O.S. TBBASVBI, T»B, BABKS ABD TBB FAULTS OF COHHBHCIAL BABKS. EXCLUDES TBB BSTIHATBD ABO0BT OP YAOLT
CASH HELD BT THRIFT IISTITUTIOBS TO SEBflCB THEIB OCD LIABILITIES.
O0TSTAHDIRG AHOOBT OF O.S. DOLLAR-DEIO8IIATBD THATELBBS CHECKS OF HOBBABK ISSUERS.
DEHABD DEPOSITS OTBBB TBAB THOSE DOB TO OOBBSTIC BAIKS, THE U.S. GOfBBBHEBT ABO FOBBIGB BABKS ABD OFFICIAL IHSTIT0TIOHS LESS
CASH ITBBS IB TBB PHOCBSS OF COLLBCTIOB AMD F.B. FLOAT AT BBHBBB BAHKS OF TIB FBDBBAL BBSBBfB SYSTSfl.
4/ DEHABD DEPOSITS OTBBB THAB THOSE DOB TO DOMESTIC BABKS, TBB O.S. GOYBHBBBHT ABD FOBBIGB BABKS ABD OFFICIAL IRSTITOTIOHS LESS
CASH ITBBS III THE PBOCBSS OF COLLBCTIOB AT JOIHEHBBB BABKS.
5/ DEPOSITS AS DBSCBIBBD IB FOOTBOTE 4 AT AG&HCIBS ABD BBABCBBS OF FOBBIGI BABKS, BDGB ACT COBPOBATIOHS AID POBEIGH IHTBSTHBIT
COHPAHIBS.
6/ EQUALS SOH OF THBEB PREVIOUS COBPOBBHTS LESS THE BSTIHATBD AH00IT OF DBHABD DEPOSITS HELD AT COHHBBCIAL BABKS BT THBIFT
IHSTIT0TIOBS TO SBRYICB THBIB OCD LIABILITIES.
7/ BOH ABD ATS BALABCES AT COHHEBCIAL BAHKS, BBAHCHBS AID AGBBCIBS OF FOBBIGB BABKS, AID BDGB ACT COBPORATIOHS.
8/ BOH AID ATS BALABCBS AT SAIIBGS AID LOAB ASSOCIATIONS ABD HUTOAL SAYIHGS BABKS, CBBDIT UBIOH SHABE DBAFT BALABCBS, ABD
DEBAID DEPOSITS AT THBIFTS.
9/ IICLODES OYBBHIGHT AID COITIB0IIG COHTBACT BPS ISSUED BT COHHBBCIAL BAHKS TO OTHBB THAR DEPOSITORI IISTITOTIOHS ABD HOBBY
HARIET ROTOAL FOIDS (GBBBRAL PURPOSE AID BBOKBB/DBALBB).
10/ ISSUED BY FOBBIGH (PRINCIPALLY CABIBBEAB AID LOIDOB) BBABCHBS OF U.S. BARKS TO O.S. BBSIDEBTS OTBBB THAB DEPOSITORY
IBSTITOTIOBS ABD BOBBY BARRET BOTOAL FOBDS (GBBEBAL PURPOSE AID BBOKBB/DBALEB)•
2/
3/




H.6 (508)
Table 3A—continued

COMPONENTS OF MONEY STOCK MEASURES AND LIQUID ASSETS
Billions of dollars, not seasonally adjusted

Date

at
commercial
banks

at
thrift
institutions

at
commercial
banks

at
thrift
institutions

Large denomination time deposits 3
at
commercial
banks4

at
thrift
institutions

at
thrift
institutions

total

0.0
0.0
0.0

0.0
0.0
0.0

0.0
0.0
0.0

159.9
159.3
159.7

188.7
187.5
188.5

348.6
346.8
348.2

383.0
387.4
389.7

488. 7
489.2
489.3

871.6
876.6
879.0

267.5
271.9
272.7

59.9
61.0
62.2

327.4
332.9
334.9

OCT.
NOf.
DEC

0.0
0.0
26.5

0.0
0.0
16.8

0.0
0.0
43.2

163.0
165.0
161.8

194.8
198.3
195.0

357.8
363.4
356.7

388.3
387.1
380.2

487.0
4 84.5
473.6

875.3
871.6
853.9

275.0
274.6
270.0

64.1
66.3
66.5

339.1
340.8
336.5

1983-JAN.
FEB.
HAR.

114.2
163.3
185.8

74.9
114.5
134.6

189.1
277.7
320.5

150.3
143.5
142.1

184.3
181.0
181.1

334.7
324.5
323.2

356.3
339.3
329.2

442.3
419.2
408.5

798.6
758.5
737.7

250.4
238.7
233.4

63.8
63.9
65.5

314.2
302.6
298.9

APB.
HAT
JOSE

198.0
207.6
215.0

143.2
149.2
152.3

341.2
356.8
367.3

141.9
141.7
141.5

182.4
182.9
184.8

324.3
324.6
326.3

322.7
320.5
321.1

405.9
402.3
402.8

728.6
722.7
723.9

229.2
225.6
226.1

68.9
72.6
74.8

298.1
298.2
300.9

JOLT F

216.9

151.4

368.4

141.0

185.5

326.5

325.5

408.8

734.3

223.3

79.0

302.3

6
13
20
27 P

216.1
216.8
217. t
217.3

152.2
152.0
151.5
150.8

368.2
368.8
368.6
368.0

142.1
141.6
140.9
140.2

323.4
324.4
325.6
326.8

223.8
223.3
222.1
223.8

3P

217.6

150.4

368.0

139.7

328.2

224.2

1982-JULX
AUG.
SBPT.

at
commercial
banks

Small denomination time deposits2

Savings deposits1

Money market deposit accounts

total

total

total5

ISBK ENDING
1983
JOLT

AUG.

1/
2/
3/
4/
5/

SAVINGS DEPOSITS EXCLUDE HHDAS.
SHALL DENOHINATION TIHE DEPOSITS — INCLUDING RETAIL RPS — ARE THOSE ISSUED IN AHOUHTS OF LESS THAN $100,000. ALL
INDIVIDUAL RETIREHENT ACCOUNTS (IRA) AND KEOGH ACCOUNTS AT COHHBRCIAL BANKS AND THRIPTS ARE SUBTRACTED FROH SHALL
TIHE DEPOSITS.
LARGE DENOHINATION TIHB DEPOSITS ARE THOSE ISSUED IN AMOUNTS OF $100,000 OR HORE, EXCLUDING THOSE BOOKED AT INTERNATIONAL
BANKING FACILITIES (IBFS).
LARGE DENOHINATION TIHE DEPOSITS AT COHHERCIAL BANKS LESS LARGE TIHE HELD BT HONET HARKBT HUTUAL FUNDS AND THRIFT
INSTITUTIONS.
TOTAL LARGE DENOHINATION TIHB DBPOSITS EXCEEDS SUH OF THREE PREVIOUS COLUHNS BT SUCH DEPOSITS AT CREDIT UNIONS.




H.6(508)

Table 3A—continued

COMPONENTS OF MONEY STOCK MEASURES AND LIQUID ASSETS
Billions of dollars, not seasonally adjusted
TermRP's1
at
commercial
banks

Date

at
thrift
Institutions

total

Term
Eurodollars 2

Savings
bonds

Short-term
treasury
securities 3

Bankers
acceptances

Commercial
paper 5

22.7
25.4
24.6

11.8
11.6
11.8

34.5
37.0
36.4

83.7
80.9
80.6

67.4
67.5
67.5

198.7
199.1
199.2

41.3
40.9
41.8

118.0
114.7
112.0

OCT.
BOf.
DEC.

26.0
27.8
28.2

11.7
11.6
12.1

37.7
39.4
40.3

81.1
79.5
80.1

67.7
68.0
68.2

206.8
212.5
216.8

43.4
43.9
45.1

111.5
108.2
109.2

1983-JAR.
PBB.
BAB.

27.9
28.6
29.4

12.6
12.2
12.3

40.6
40.8
41.7

81.2
83.8

68.4
68.5

221.3
225.5

45.4
43.5

114.1
116.6

APB.
BAT
JOBB

30.3
32.7
31.6

12.4
12.5
13.0

42.7
45.3
44.6

JOLI P

29.6

13.2

42.8

1982-JOLI
106.
SEPT.

VBBK BBDIBG:
I983-J0LI

6
13
20
27 P

29.6
27.8
29.8
30.4

AUG.

3P

30.9

/
2/
3/

5/

TBBB BPS ABB THOSE BITB ORIGIRAL BATOBITT GBBATEB TBAB OBE DAT, BICLODIBG COBTIBOIBG COBTBACTS ABD RETAIL RPS.
TBBB £0BODOLLARS ABB THOSE NITH ORIGIBAL BATURITT GREATER THAI OBE DAT BKCLUDIVG THOSE HELD BT DEPOSITOR! IRSTITOTIOBS ARD
HOMEI HARKBT HOTOAL F0BDS.
IBCLODBS O.S. TBEASORT BILLS ABD COOPOVS WITH REHAIRIRG HATORITT OF LESS THAB 18 NORTHS HELD BT OTHER THAR DEPOSITORT IRSTIT0TIOHS, F.R. BARKS, ABD BOBBY HARKBT BOTUAL FORDS.
RET OF BABKBBS ACCBPTABCES HELD BT ACCBPTIBG BARKS, F.R. BARKS, FOREIGfl OFFICIAL IRSTITUTIORS, THE FEDERAL HOHB LOAH BARK
STSTBH, ABD HOBBY BARKBT BOTOAL FORDS.
TOTAL COHHBBCIAL PAPER LESS CGBREBCIAL PAPER HELD BY HOREY HARKBT HOTOAL FORDS.




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

8
Time and
savings
deposits
due to foreign
commerical
banks and
foreign official
institutions

U.S. government deposits
demand
deposits at
commercial
banks

balances at
Federal
Reserve
Banks

IRA and Keogh Accounts

note balances total demand time and savings
deposits at
at commercial deposits and
note and
commercial
banks and thrift
FR balances
banks
institutions

commerical
banks

thrift
institutions

money
market
mutual funds

total

9.6
8.6
8.4

2.5
2.3
2.0

9.9
9.7
9.%

2.5
2.3
3.3

3.3
3.3
3*8

5.7
5.8
9.0

11.6
11.4
16.1

(>.9
1.0
1.1

15.2
15.6
16.0

24.5
25.1
25.8

1.1
(.2
1.3

43.8
44.9
46.2

OCT.
•OF.
DEC.

8.4
8.4
8.6

2.2
1.9
2.1

9.2
9.2
9.0

2.5
2.6
2.9

3.2
3.1
3.2

13.8
5.3
7.9

19.5
10.9
14.0

.1
I.I
1.1

16.6
17.2
17.9

26.6
27,1
27.7

1.4
>.5
1.6

47.6
48.8
50.1

1983~JAB.
FEB.
BAR.

7.8
7.9
8.1

2.1
2.0
1.9

8.7
8.3
8.1

2.8
2.8
2.7

3.3
3.2
3.3

13.5
7.4
10.4

19.6
13.4
16.5

1.0
0.9
1.0

19.3
20.7
22.8

28.8
29.7
31.3

1.7
1.8
1.9

52.8
55.2
59.0

APR.
BAT
JOSE

7.9
8.1
8.2

2.0
2.0
2.0

7.9
7.7
7.7

3.9
2.5
3.«

3.8
3.6
3.4

10.3
9.8

18.0
16.0
16.6

1.1
0.9
0.8

26.2
27.3
27.9

33.6
34.9
35.6

5.2
5.2
5.2e

65.1
67.4
68.7e

8.3

2.0

7.6

2.8

4.2

19.1

26.0

0.8

28.4

36.2

5.3e

70. Oe

8.8
8.5
8.1
8.0

2.0
2.1
2.1
1.9

7.6
7.6
7.6
7.6

3.1
2.4
3.4
2.2

4.5
4.5
3.3
4.5

19.0
19.2
19.2
19.3

26.5
26.1
25.9
26.1

0.8
0.8
0.8
0.8

8.2

2.2

7.5

3.1

4.0

18.2

25.3

0.8

1982-JOLT
AUG.
SEPT.

JOiy

p

to.o

VEBK BBDIBG:
1983
JULY

AQG.

6
13
20 p
27 p
3 P

B«ESTIBATB0




SPECIAL SUPPLEMENTARY TABLE
Monthly Survey of S e l e c t e d Deposits and Other Accounts
At A l l Insured Commercial Banks and All Mutual Savings Banks
June 2 9 , 1983, and July 2 7 , 1983
(not s e a s o n a l l y a d j u s t e d ) 1

T

Liability Categories
Super NOW accounts
(standard error of the estimate) 2

Amount Outstanding
June 29
July 27E
23,358
24,246
(396)
(396)

Money market deposit accounts-^

215,300

Insured Commercial Banks
Average Rate Paid
June 29 I July 27P~
7.38
7.3

I 217,250

8.27

I

I

8.41

Number of Issuing Banks
July 27P_
June 29
11,771
12,610

12,610

12,633

7,333

7,019

12,855

12,687

9.56

14,076

14,023

10.35

12,799

12,795

10.50

N.A.

N.A.

7- to 31-day money market certificates 4
(standard error of the estimate)

5,059
(557)

5,217
(534)

91-day money market certificates 5
(standard error of the estimate)

5,767
(230)

6,614
(276)

6-month money market certificates 6
(standard error of the estimate)

178,480
(1,977)

182,561
(2,010)

9.37

1-1/2 year and over variable ceiling
certificates 7
(standard error of the estimate)

90,522
(1,783)

90,327
(1,765)

9.82

2-1/2 year ceiling-free time deposits 8

10,426

11,798

10.10

28,062

28,583

9.90

I 10.44

N.A.

N.A.

7.99

8.28

4,239

4,201

All IRA/Keogh Plan Deposits

Retail repurchase agreements10
(standard error of the estimate)

2,024
(340)

|

Money market deposit accounts3

|
|

7- to 31-day money market certificates4!
(standard error of the estimate)
j

773

1-1/2 year and over variable celling
certificates7
(standard error of the estimate)
2-1/2 year ceiling-free time deposits 8
9

Retail repurchase agreements10
(standard error of the estimate)

I
j
|
I

763

(9) |
36,672

|

277 |
(119) j

!
91-day money market c e r t i f i c a t e s 5
(standard error of the estimate)
6-month money market c e r t i f i c a t e s 6
(standard error of the estimate)

All IRA and Keogh Plan deposits

2,067
(476)

Amount Outstanding
June 29
July 27P '

Liability Categories

(standard error of the estimate) 2

8.64

I
8.99

I

9.12

I

9

Super NOW accounts

8.43

|
|

Mutual Savings Banks
Average Rate Paid
June 2 9 [ July

Number of I s s u i n g Banks
June 29 1 July 27P

7.32

7.34

378

251

8.61

8.72

373

371

8.52

8.69

145

141

9.05

9.12

347

341

9.36

9.56

402

396

(14)
39,616
300
(119)

I
340
(18)
32,103
(638)

I

373
(22)
31,718
(655)

23,518
(591)

23,349
(594)

10.17

10.45

392

386

2.503

2.808

10.4

10.70

N.A.

N.A.

7,378

7,303

10.9

10.63

N.A.

N.A.

9.32

162

154

541
(189)

715
(292)

9.13

p - Preliminary
N.A - Data not available.
1. Estimates are based on data collected by the Federal Reserve from a stratified random sample of about 550 banks
and 90 mutual savings banks.
2. Super NOW accounts are NOW accounts containing an agreement between depositor and depository such that, provided
certain conditions—including a $2,500 minimum balance—are met, some or a l l funds deposited are e l i g i b l e to earn
more than 5.25 percent.
3. Monev market deposit accounts (MMDAs)—Deposits with a $2 500 i n i t i a l and average balance requirement, no
required minimum maturity but institutions must reserve the right to require at least seven day's notice prior
to withdrawal, no restrictions on depositor e l i g i b i l i t y , or limitations on the amount of interest that may be
paid unless the average balance f a l l s below $2,500 during which period the NOW account rate ceiling applies;
such accounts may allow up to six transfers per month, no more than three of which may be draft and may permit
unlimited withdrawals by mail, messenger, or in person. Estimates for this category of deposits are based on
data collected by Che Federal Reserve from weekly deposit reports submitted by about 10,500 commercial banks
and 400 mutual savings banks.
4. 7- to 31-day money market c e r t i f i c a t e s are nonnegotiable time deposits that require a minimum daily balance of
$2,500, but less than $100,000, and have an original maturity or required notice period of at least 7 days but
no more than 31 days. The maximum permissible rate of interest i s tied to the discount yield (auction average)
on the most recently Issued 91-day Treasury b i l l .
5. 91-day money market c e r t i f i c a t e s are negotiable or nonnegotiable time deposits issued in denominations of at
least $2,500, but less than $100,000, with original maturities of exactly 91 days for which the maximum permissible rate of interest on new deposits i s tied to the discount yield on the most recently issued 91-day (13-week)
Treasury b i l l (auction average).
6. 6-month money market c e r t i f i c a t e s (MMCs) are nonnegotiable time deposits in denominations of $2,500, but l e s s
than $100,000, with original maturities of exactly 26 weeks for which the maximum permissible rate of Interest
on new deposits related to the discount yield on the most recently Issued 6-month Treasury b i l l (auction average).
7. This category includes a l l 4-year and over variable ceiling accounts having no legal minimum denomination
Issued between July 1 and December 31, 1979, a l l 2-1/2 year and over variable ceiling accounts issued between
January 1, 1980, and March 31, 1983, and a l l 1-1/2 year variable ceiling accounts authorized beginning April 1,
1983.
8. Ceiling-free time deposits are a l l negotiable or nonnegotiable time deposits in denominations of l e s s than
$100^000 with original maturities of 3-1/2 years or more that were offered between May 1, 1982, and March 31,
1983, and a l l 2-1/2 year ceiling-free time deposits authorized beginning April 1, 1983. Excludes IRA/Keogh
accounts.
9. All IRA/Keogh Plan time deposits regardless of s i z e , type of instrument In which held, or interest rate paid.
10. Retail repurchase agreements are in denominations of less than $100,000 with maturities of less than 90 days
that arise from the transfer of direct obligations of, or obligations fully-guaranteed as to principal and
interest by, the U.S. Government or an agency thereof.
NOTE:




See table 1.16 in the Federal Reserve Bulletin for regulatory ceiling rates on specific account categories.

Supplementary Table 2
Levels and Annual Growth
Rates of Ml Using Current-*- and Experimental
Alternative^ Seasonal Adjustment Procedures
(Monthly average)

Levels in billions
of dollars
Experimental
Current
Alternative

Annual growth
rates in percent
Current
Experimental
Alternative

454.4

452.0

2.6

-3.4

August

458.3

456.8

10.3

12.7

September

463.2

462.8

12.8

15.8

October

468.7

468.0

14.2

13.5

November

474.0

474.8

13.6

17.4

December

478.2

478.5

10.6

9.4

482.1

481.0

9.8

6.3

February

491.1

490.7

22.4

24.2

March

497.6

498.7

15.9

19.6

April

496.5

498.7

-2.7

0.0

May

507.4

507.6

26.3

21.4

June

511.7

510.8

10.2

7.6

July

515.5

512.2

8.9

3.3

1982 - July

1983 - January

1. Current monthly seasonal factors are derived using an X-11/ARIMA-based procedure.
2. Alternative monthly seasonal factors are derived using an experimental modelbased procedure. This procedure uses a combination of statistical regression
and time series modeling techniques to construct seasonal factors that are more
sensitive than the current factors to unique characteristics of each series.
These characteristics include fixed and evolving seasonal patterns, trading
day effects, within-month seasonal variations, holiday effects, outlier adjustments, special events adjustments, and serially correlated noise components.