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REVISION
Revision - August 14, 1969 and pages attached to the release




FEDERAL

RESERVE

statistical

release

>rf*xn&?:
For immediate r e l e a s e

H.6

August 14, 1969

Effective in ttie latest week ending August 6, the demand deposit component
of the money supply was increased substantially due to a change in accounting procedures associated with Euro-dollar transactions. Previously, an increasing volume
of such transactions resulted in increases in cash items in process of collection
without increasing demand deposits* Cash litems are deducted ?from gross deposits
in computing the money supply; consequently, the net deposit concept measured in
the money supply has been understated by an increasing amount in recent years. A
tentative revision has been made in the data below and in the appended tables to
correct for the estimated downward bias in the series from June 1967-July 1969.
^Further revisions will be completed in the near future, reflecting new benchmarks
and changes in seasonal factors which are incorporated in the series annually.
The revised money supply series has increased in the first seven months
of July at an annual rate of 4 per cent, ccimpared to 2.4 per cent rate indicated by
the old series ^ In the week ending-August; 6, the money supply averaged about
$560 million below the July level. Time and savings deposits declined further in
the latest week to a level $1.7 billion b.elow the July average.
MONEY SUPPLY AND TIME DEPOSITS
(Averages of daily figures, In billions of dollars)
Seasonally adjusted

Money Supply
Period

Curreincy

Total
L_ ^ r ^ 7 1 Q o H ^

—

component

Demand d e p o s i t
component

Time deposits
adjusted
(All commercial
banks)

1969—January
February
March
April
May
June
July p

195.4
195.7
195.9
197.5
197.4
198.2
199.1

43.6
43.9
44.2
44.2
44.6
44.9
r 45.2

151.7
153.3
152.9
153.3
154.0

202.5
201.0
201.0
200.8
200.1
199.2
r 195.8

Week ending:
1969—July 2
9
16
23
30 p

199.2
199.8
199.0
198.7
198.2

45.1
45.1
45.0
45.2
45.2

154.1
154.7
154.0
153.5
153.0

198.0
196.9
r 196.0
195.3
194.7

Aug -

198.6

45.3

153.3

194.1

198.6

45.2

153.5

195.0

6 p

Average of l a s t 4 weeks
p for
- FRASER
Preliminary.
Digitized


-r

r - Revised.

151.9

15f?-8

REVISED SERIES

August 14, 19*

Honey Supply and Related Data 1967-1969
(billions of dollars)
Not Seasonally Adjusted
Seasonally Adjus'*d
Money Supply
U.S.
Money Supply
Demand Time
Government
Demand Time
Currency Deposit Deposits
Demand
Currency Deposit Deposits
1
Total Component Component Adjusted 1/ Total Componeh [Component Adjusted 1, Deposits 1/
1967
January
February
March
April
May
June
July
August
September
October
November
December

170.3
171.8
173,2
172.5
174.4
176,0
177.9
179,1
179,3
180,4
181,3
' 181,7

38.5
38.7
38,9
39,0
39,1
39,3
39,4
39.5
39.7
39,9
40,1
40,4

131,8
133,0
134.3
133,5
135.5
136,7
138,'5
139,5
139,6
140.5
141,3
141.3

161,0
163,5
165.9
168,1
170,1
172,6
17.4,8
177.2
179,4
180,6
182,0
183,5

175,3
170,6
171,9
173,6
171.0
174.3
175,8
175,9
178.5
180,8
182.7
187.5

38.5
38,3
38,5
38.6
38,8
39,2
39,6
39.6
39.7
40,0
40,4
41,2

136.8
132,2
133,4
134.9
132,2
135,1
136,3
136,3
138,7
140,8
142,2

1968
January
February
March
April
May
June
July
August
September
October
November
December

182.7
183,1
183,9
184,7
186,7
188,1
190,2
191,2
190,6
191,5
193,3
194,5

40.6
40,7
41.1
41,4
41.6
42.0
42.2
42,6
42,7
42,8
43,2
43,4

142,1
142,4
142,8
143,4
145.0
146,0
148,0
148,6
147,9
148,7
150,1
151,1

184,1
185,2
186.7
187,1
187,6
188,2
190,4
193.8
196,6
199,5
201,9
204.3

188.0
181.8
182,5
186.0
183,0
186.2
188.0
187.8
189.7
191.8
194,8
200,7

40,5
40,3
40,7'
41.1
41;,3'

1473
141,5

U At all commercial banks,.



4U
42;,4
4217
42.7
43.7

m

146.2

14510
14:1.7
144.3
145*7
145.2:
147,9
149.0
15U
156.4

160,6
164,0
166.7
168,8
170,8
173.0
175.2
177,8
179,0
180,4
181,3
182.0

4.2
5,1
4,9
4,8
6,6
4,0
5,7
4.3
5.0
6,3
5.3
5,0

183,7
185,8'
187.7
187.9
188.4
188,6
190,8
194,4
;196,2
1,99,1
200,7
202.5

5.0
7.2
6,6
4.2
6,4
5,4
5,7
5.5
5.9
6.1
4,2
4.8

August 14, 1969

REVISED SERIES

Money Supply and Related Data 1967-1969
(billidnT of dollars)
Hot; Seasonally Adjusted
U.S.
.
Mcjftey Supply,
Money Supply1
Government
i
Demand - Time
Demand Time
Demand
Currency Deposit Deposits
Currency Deposit Deposits
1
Total Component Component Adjusted 1/ Total Componen ^Component Adjusted I Deposits 1/
Seasonally Ad jus'*d

1

"'

f

'"••r:-

i

__

— ' ] ' •

^•*fli^^|P^i|p*0IUl^WWPHMI

1969
January
February
March
April
May
June
July p

195.4
195.7

43.6
43,9

151.9
151,8

202,5
201,0

195,9 44,2

151,7

201,0

197,5
197.4
198,2
199.1

44.2
44,6
44.9
45.2

153-53
152,9
153,3
154.0

1967-Jan. 4
11
18
25

170.7
170.6
170.4
170.3

38,5
38,5
38,5
38,5

Feb. 1
8
15
22

170.5
171.1
171,4
172.3

Mar. 1
8
15
22
29<

172.4
172.8
173.2
173.2
173.3




!

*

200,8
200,1
199,2
195.8

201.3 . ,43,5
194.3 43,4
194,4 . 43.8
198,5 43,9
193,7 44,3
196,3 44,8
197.0' 45.3

157,8
150.9
150.7
154,6
149.5
151,5
151.7

202,1
201,6
202,0
201,6
200,9
199,6
196.2

4,7
6.6
4,5
5.1
8,8
5,7
5.3

132,2
132.1
131,9
131,8

159.3
159,9
160,7
161.6

178.7
177,1
176,4
173.2

38,9
38,9
38,5
38,1

139.8
138.2
137,9
135.0

158.7
159,4
160.4
161.6

5,0
4.4
2.7
4.5

38.6
38,6
38,7
38.8

131,9
132,5
132,7
133.6

162,4
162,8
163,4
163.9

172,5
172,3
171,0
169.4

37.9
38,5
38,5
38.3

134.6
133,8
13? ,5
131,1

162.5
163,1
163,9
164.4

4.6
5,3
4.7
5.0

38.7
38.8
38.9
38.9
39.0

133.7
133.9
134.3
134.3
134.3

164.1
164.8
165.6
166.2
166.9

•169.2
170.6
172,2
173.5
171.2

38.1
38.7
38.6
38.6
38.4

131.2
131.9
133.6
134.9
132.8

164.8
165.7
166.6
167.0
167.6

5.3
•4.2
3.0
5.3
6.8

1/ At a l l commei"cial banks!.
P " ? r eliminary.

REVISED SERIES

August 14, 1969

Honey Supply and Related Data 1967-1969
(billions of dollars)
Seasonally Adjus :ed
.
Not Seasonally Adjusted
U.S.
Money Supply
Money. Supply
Demand ' ;Time
Government
Demand Time
Currency Deposit Deposits
Demand
Currency Deposit Deposits
1
Total Component Component [Adjusted 1/ Total Componen [Component Adjusted li Deposits 1/
173.1
172.8
172.3
172,0

39.0
39.0
39.0
39.0

134.1
133.8
133.3
133.0

167.5
167.8
168.0
168.5

172.9
173.9
175.2
172.6

38.5.
38.9
38.7.
38.4

134,4
135.0
136,6
134,2

16,8,2
168.7
168.7
169.0

4.9
3.9
3.6
6.0

3
10
17
24
31

172.8
173.0
174.8
174.7
175.4

39.0
39.1
39.1
39.1
39,2

133.7
133.9
135.7
135.6
136.2

168.8,
169.4'
170,0
170.5
171.4

172.6
171.3
171,7
169,2
170.8

38.5
39.1
38.9
38.8
38.7

134,1
132,2
132.8
130,5
132,1

169.5
170.1
170.7
171,2
171.9

6.7
7.9
6.7
6.6
5.0

June 7
14
21
28

175.8
175.9
176.0
176.2

39.3
39.3
39.3
39.4

136.5
136.6
136.7
136.9

171,8
172,4
172.8
173.1

173.2
174.9
176.3
172,a

39,2
39.4
39,3
39.0

133,9
135,5
137.1
133.£

172,3
173,0
172,9
173.3

3.4
2.3
4,8
5,2

July 5
12
19
26

177.6
178.1
17718
177.9

39,4
39.4
39.4
39.4

138.2
138.7
138.4
138.5

173.8
174.0
174.9
175.3

175 J
175*9
176,2
174,7

393

m
m

39,3

136,2
136,1
136,7
135,4

174,2
174,4
175,2
175.7

5,1
4.7
'6.1
6.6

Aug. 2
9
16
23
30

178.3
178.8
179.0
179.0
179.2

39.4
39.5
39.5
39.6
39.7

138.9
139.3
139.4
139.5
139.6

•175*9176.7
177.0
177.4
178.0

176,8
176*2
176.7
174i7
175:3

39.2-;
39v9
39:7
39 ;6
39,3

1311,6
13p\4~
1:36.9
135,0
136*0

176.4
177.2
177.7
178.0
178.5

5.4
5.5
3.8
4,5
3.2

Sept. 6
13
20
27

179.6
179.6
178.7
179.4

39.7
39.7
39.8
39.8

139.8
139,9
139.0
139.6

178.7
179.1
179.3
179,8

177.5
179,1
179.6
177,3

39,9
39V9

,1;37:,6
139.2
139.9
137.9

178,9
17.9.4
178,8
179,1

4.3
3.3
4.7
6.9

1967-Apr. 5
12
19
26
May




1/ At all comnercial banks,

m

39t5'

August 14, 1969

REVISED SERIES

Money Supply and Related Data 1967-1969
(billions Q,E dollars)
Seasonally Adjusi :ed
Money Supplyi
Demand 'Time
Currency Deposit Deposits
Total , Component Component Adjusted 1/ Total
_s

1967—Oct. 4

180.1
180.4

' _

•'

Not Seasonally Adjusted
U.S.
Moncjy Supply •
Government
; Demand Time
Demand
Currency [Deposit, Deposits
Comjonen [Component. Adjpted I ' Deposits 1/
179.6
•180.1 -

6.1
5.3

180.5

6.7

140.0

180,6

7.0

142.1
142.5
142.7
141.6
141.6

•181.1
181.1
181.3
181.1
181,6

6,3
5.7
4.2
5.9
5.2

41.2
41.7

144.3
144.5
146.9
146.3

181.8
182.1
181.9
182.0

4.8
3.2
4.7
7.1

151.1
149.1
149.2
145.6
144.4

182.6
183.0

168.8
185.9
184.3

40,9
41,0
40.6
40,3
39,9

183.7
184.0
184.7

5.5
4.7
3.1
6.0
5.8

184.5
185.0
185.3
185.7

184.9
182.5
181.1
179.2

40.4
40,5
40.3
40.1

144.4
142.0
140.8
139.1

184.9
185.6
185.9
186.5

7.1
6.1
5,4
9.7

186.0
186.7
186.8
187.0

182.1
182.7
183.9
181.7

40,6
40.9
40.8
40,6

141.5
141,8
142.2
141,2

186.9
187.7
187.7
187.9

8.4
5,9
6,4
6.9

180,5 39.9
180,3, 40,0

140.3
140,5
140.6
140.3

180,7
180.8

180.7
181.2
181,2
181,4
181.4

40.0
40.0
40.0
40.2
40.2

140,8
141.2
141,2
141.2
141.2

181.2
181.3
181.6
182.2
182.9

181.7
182.9
183.2
182.2

40,2
40.3

141.3
141,1
140,9
141,2

183.3
183-.6
183.5
183.5

185.2
185.7
188.1
188.0

40.9

13
20
27

181.5
181.4
181.3
181.7

3
10
17
24
31

182.7
182.7
183.0
182.6
182.5

40.5
40.5
40.6
40.6
40.6

142.2
142,2

192.0
190.1

142.5
142.0
141.9

183.9
183.9
184.0
184.0
184,3

7
14
21
28

182.9
183.1
183.2
183.4

40,}"
40,8
40.8
40.8

142.2
142.3
142.4
142,6

Mar . 6
13
20
27

183.6
!183.8
183.8
184.1

40,9
41,0
41,1
41.2

142.7
142.7
142.7
143.0

11
18
25
Nov, 1

8
15
22
29
Dec. 6

1968-Jan

Feb




39.7
39.9

413
40,5

1/ At all commercial banks.

18Q.2
180.4

179.7
180.7
181.3
179.9

18212

39.6
40,2
40.1
39.9

30.7
40,4
40.4
40.6
40.6

ft.2

140,1

1*6.5
141.1

^_

August 14, 1969

REVISED SERIES

Money Supply and Related Data 1967-1969
(billions of dolls rs)

1968--Apr,

Not Seasonally Adjusted
Season*dly Adjust :ed
U.S.
Money Supply
Money Supply
Demand
Time
Government
Demand
Time
Currency Deposit Deposits
Demand
Currency JDe posit Deposits
1
Total Component Component Adjusted 1/ Total ComponeritComponent Adjusted 1< Deposits 1/
143,2
184.5 41.2
187.3
183.5 40,8
188,2
142,7
5,2
187.0
143.1
185,0 41.4
184.4 41.3
143.6
3.7
188,1
144.7
187,1
186.0 41,3
189.7 41.3 , 148,3
2.8
187,8
143,0
184.4 41,4
186.0 40,9
186.9
145.1
187.4
5.0

3

10
17
24
May

1

8
15
22
29

•

June 5

12
19
26
My

3

10
17
24
31
Aug. 7

14
21
28
Sept. 4

11
18
25



184.3
185.4
185.7
187.3
188,0

41.5
41.5
41.6
41,8
41,7

142.8
143.8
144,1
145,6
146,2

187,3
187,4
187.7
187.7
187.7

184,2
184.0
183.4
181.9
. 182,1

40,7
41,5
41.4
41.4
41,2

143.5
142.5141.9
140,5'
140,9

188,0
188,1
188.5
188,5
188,5

•5,6

188.4
187.0
187.5
188.4

41,8
42,0
42,0
42.0

146.5
145.0
145.5
146,4

188,0
188.1
188.1
188,0

185.5
185.8
186.9
185.0

41,842,1
41,9
41.7

143.8
143.7
145.0
,143,3

188,6
188.7
188,4
188,2

4,7
4.1
4.8
8.3

190.3
189.6
190.8
189,5
190.4

42.1
42.2
42,2
42,2
42'.2

148.4
147,4
148.6
147.3
148.1

' 188.6
189,2
190.2
191.1
191,8,

188.8
187.7
189.3
186.4
187.8

42;0
42.9
42.4
42,2
42\0;

1146.7
144.8
ii46;9
1144.2
il45;'8.

189.2
18,9,5
190.6
191.5
192*4

4.7
4.3
5.4
7.5
6,2

191.2
190.6
191.4
191,2

42.2
42.5
42,6
42.7

149.0
14L8,0
148.8
148.5

192.5
193,3.
194.0
194.6

lS9f. 1

42.6

146,6

193.1
194,1
194.6
195.2

5.7
4.8
5.9
5,9

191.3
191,3

42.7 ,
42,6 •

148.6
148.6.

4,2'

189.8
189.7

42,7
42.6

147', 1
147.0

195.6
195.8
195,8
196,4

,

1/ At all commercial banks,

im lu

1145.4,

187.0
18(5.6

,42,1
42.4.

144.3
144,2

195.2
195.8

188.8
190*5

42.7
43.1

146,0

J147.4

196.6
197.2

190$

.42,7
'42,4

147,6
•145,4

1&8

7.3
5.7,

6.7
6,2

3.3
5.0'

8.5

August 14, 1969

REVISED SERIES

Money Supply and Related Data 1967*1969
(billions of " dollars)
Not Seasonally Adjusted
Seasonally Adjusted
.Money Supply . |
U.S,
Money Supply
i
'Government
Demand
Time
Demand
Time
Demand
Currency. Deposit Deposits
Currency Deposit Deposits
Total Component Component Adjusted 1/ Total Canponen [Component Adjusted l, '_De posits 1/
i

2

42,4
43,2'
43,0

148,5
148,3
150.0

197,3 •
198,3
198,9

190.5 42.9

147,6

199,6

191,6

42,5

149,1

200,0

8,1
7.2
4.9
5,2
6,7

200,8
201,4
201,7
202,9

• 195.3
. 193.7
194.5
195.0

43,3
43,7
,43.6
43,6

152,0
150,0
150.9
151,4

200,2
200,4
200,5
201,3 '

5.7
4.9
3.3
4.0

150.9
151,1
150.7
150,7

203.7
204,1
204,5
204.6

197,4
198,5
200.7
200,8

44,1
44,4
44,4
44,7

153,3
154,1
156,4
156,1

201.9
202.4
202.6
2^2,6

3.3
3.2
4.5
6.8

43,4
43,5
43.5
43,6
43.5

151,8
153.6
152.0
151,8
150.0

• 204.1
203.3
202.8
202,1
201,5

203.2
205.8
203.2
200,2
196.1

43.9
44,1
43.6
43,4
42.9

161.3
161.7
159,6
156,8
153.2

202.7
202.5
202,4
201,9
201.7

5.1
4.3
2.6
4.4
6.7

43.7
43.9
44.0
43,8

150,8
150,9
153.0
152.4

201,0
201.0
201.0
200.9

197.0 ' 43.4
194.9 43,6
194,4 4 3 . 5
191.9 . 43.2 •

153.6
151.3
150.9
148.8

201.4
201.6
201,6
201.7

7.3
7.0
6.5
6.4

195.6' 43.8
195.5 44.1
196.0 44.2
'196.6 44.3

151.8
151.4
151.8
152.3

200.7
200.9
200.7
200.9

194.3
194.6
195.3
193,4

150.7
150.7
151.4
149.8

201.7
202.0
201.9
201.9

5.0
4.0
4.4
5.6

1 191.2
191.2
192.2
190.6
191.2

42,7
42,9
42.8
42.8
42.9

148.5
148,3
149,4
147,8
148,3

198.1
189,7
199.1
200,0
200,4

190,9
191,5
193.0

193.3
191.9
193,5
194,7

42.9
43.2
43,2
43,4

150.3
148,7
150,3
151,3

11
18
25

194.4
194.6
194,1
194.1

43.5
43,5
43,4
43.4

1969-Jan,

1
8
15
22
29

195.1
197.1
195,5
195,4
193,5

Feb

5
12
19
•26

194.5
194.8
196.9
196.2

1968-Oct.

9
16
23
30
Nov. 6
*at*r

13
20
27
Dec. 4

Mar . 5
12
19
26



1/ At all commercial banks.

43.6
43.9
43.8
43.6

August 14, 1969

IEVISEP SERIES

Money Supply and Related Data 1967-1969
(billions ol: dollars)
Season'silly Adjust:ed
Not Seasonally Adjusted
[• Money Supply
/ Money Supply
U.S.
———•
Time
Demand
Demand
Time
Government
Currency Deposit Deposits
Demand
Currency[Deposit • Deposits
Total Component Component Adjusted 1/ Total CoBPonentComponent Adjusted 1, ' Deposits 1/
1969--Apr. 2

197.0

9
16
23
30

198,7
198.3

7

196.1

14
21
28

197.1

196.8
195.7

44.3
44.4
44.2
44.3
44.2

.

152.7
154.3
154,0
152,5
151.;

44i6

150.0

198.9

44,9

152.8'
:^i;8|
152.;;8

198,4:
197 ?3
T?6.4

•ISfi

'd?5;:6

150,18:

;i95,;i

;15143

:

194.4
194,0

44,2

193,4
193.0

44 J2

195,5
196,6

.44.<D
45 JD

197.6

44.9

152,7

199,6

11
18
25

198,5
198.2

••44,8

153,7

197.9

44.9
44.9

153.3
153,0

199,7
199.2
198,7

197,3
194/.6

July 2

199.2

154.1

198.0

197.6

9
16
23

199.8
199,0

45.1
45.1

196.9
196,0

197,7

P

198.7
198.2

45.0
45.2
45.2

154.7
154,0
153.5
153.0

6p

198.6

45,3

153.3

194.1

p - Preliminary,

200.6

ma

150.7
151.6
152,4

44,0
43.7
43,5

June 4




9.9
9.9
8,9
7,9

201,3
198.1
195,3

153*.6

\ l At all commercial banks,

201,0
201,0

200,9
200.6
200,3

198.9
198,2

Aug.

L50,2
149,7
149.2
149,0;

43,7
44,4

200.2
200,2
200,1
200,0

30

151.8
152,6
154,4'

3.5
3.6
3.2
6,4
7,7

195.8
199.3

44,3
44.5
44.5
44,6

May

202,3
202.2
201,7.
201/2
201,1

201.1
201.2

195.2
194.7

;

44,3
44 JO

*m

i 98 :i.
195.fr

h$
w!i

195/7-

44^

196.9

m

152.0
154,9
157,4
154,4
•151,8

200,9
200,8

200.3
199*6

Mi.

5.4
4,0
5,4
8.0
5,6
5.4
3,0
6.7
6,1
5,1

p