Full text of H.6 Money Stock Measures : December 21, 1972

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FEDERAL

RESERVE

statistical

release

TiM. 1

MONEY STOCK MEASURES 1

For Immediate Release
December 2 1 , 1972

IN BILLIONS OF DOLLARS

"2
j
[
"3
2
*3
"i
M| plus time deposits
Mj plus deposits
Mi plus time deposits' M2 plus deposits !
Currency plus
1 at commercial banks
Currency plus
at commercial banks
at nonbank
at noiibink
othar than larg.
demand deposits 2/3 other than large
thrift institutions 4 /
thrift institutions 4 / demand deposits £/
CD's 3 /
CD's 3 /
Seasonally Adjusted
Not Soionatty Adjusted
*1

Date

1

1971—November
December

227.7
228.2

460.8
464.7

711.6
718.1

229.6
235.1

461.4
470.2

711.4
723.4

1972—January
February
March
April

228.8
231*2
233.5
235.0
235.5
236.6
239.4
240.5
241.6
242.3
243.6

469.9
475.5
480.1
483.0
486.1
490.4
495.0
498.3
501.8
505.0
508.2

727.3
737.4
745.9
752.7
758.8
766.1
774.7
781.6
788,4
795,2
801.2

235.3
229.0
231.3
236*1
231.3
234.7
237.9
237.2
240.0
242.1
245.7

475.3
472.7
478.7
485.4
483.2

732.8
734.1
744.9
755.6
755.9
765.5
774,0
778.4
786.6
794.5
800.9

243.2
245.4
246.8
245.4
244.5

506.3
508.0
509.8
508.4
507.8

250.2
251.6

514.4
516.7

May
June
July
Augus t
September
October
November p

Week ending:
1972--Nov.
1

Dec,

u

1!
1/
y



8
15
22
29

242.1
242.7
244.3
244.3
242.8

6 p
13 p

246.1
245.6

1
!

505.4
506.0
508.5
509.4
508.3
i

r

512.1
512.3

|

488.9
493.$
495.5
500.4
504.8
508.7

Implementation of revised Regulation J on November 9, because of its effects on clearing accounts on bank
balance sheets, had the effect of raising demand deposits as calculated for inclusion in money supply. However,
the resulting increase has been eliminated from current money supply data (beginning with the week ended
November 15} in order to avoid a discontinuity in the series. The upward adjustment of money supply as a result
of revised Regulation J will be incorporated in the statistics at the time of the regular annual benchmark and
seasonal adjustment review. At the same time, historical figures will also be revised on a consistent basis. The
forthcoming adjustments to the figures stemming from the change in Regulation J will primarily affect the level of
the series and will themselves have minimal effects on rates of change.
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.
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.
Includes M 0 , plus the average of the beginning and end of month deposits of mutual savings banks and savings
capital at savings and loan associations.
p - Preliminary.

Revised.

rj^cJr*.. i l a j i t ^ j * In*. 4*.,4, * i i i , i «t %

MONEY STOCK MEASURES

•5f
Period

"lJ U .
§!*!## (H|fl l | f « *

1 r i i .r| f itTin i j ..lojot J U ^ ^ I ujiffligaw^njijMiU^jgiijjgj^^

« 1

i t nonfosnk

CO'**

November 1972 from:
Aug. 1972 (3 tenths previous)
May 1972
(6 tenths previous)
November 1971 (.12 months
previous)

5.2
6.9

7.9
9.1

10,0
11,2

7.0

10,3

12,6

5.3

8.1

7.3

9.0

7.4

10.3

Four weeks ending Dec. 13, 1972
From four week ending:
Sept.13, 1972 (13 weeks
previous)

June 1^, 1972 (26 weeks
previ ous)
Dec. 15, 1971 (52 week?
previous)

V

Includes (1) demand deposits a t a l l commercial banfes Other Chan those due t o domestic commercial banks and
the U*S, Government, less cash Items itt fch@ process of collection and F R float J
(2) foreign demand balances at F*l Banks ard
<3) currency outside the Treasury P R Banks and vaults of fill commercial banks,
2/ Includes in addition to currency and demand deposits savings deposits time deposits open account, and time
c e r t i f i c a t e s of deposits other than negotiable time c e r t i f i c a t e s of deposit issued in denominations of $100,000
or more by large weekly reporting commercial banks
2/ Includes K^ plus the average of the beginning and end of monfch deposits of mutual savings banks and savings
capital at savings and loan associations*
Note; All rates of change are based on daily tVMagg dtfjft sates of change aro not compounded,




FEDERAL RESERVE Statiltlcil Rftlftit* H,6
Tibte 3

COMPONENTS OF MONEY STOCK MEASURES AND RELATED ITEMS
SEASONALLY ADJUSTED, IN BlUlfONS OF DOLLARS
wmKammmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmm

Time and livings dtpositt
Date
l97l--November
December
1972--January
February
March
April
May
June
July
August
September
October
November

Week endlnfl:
1972—Nov. 1
8
15
22
29
Dec. 6 p
13 P

1

!

Other

Total

175.5
175,7

32.2
33.4

233.1
236,4

265.3
269.9

250.8
253.4

176.6
178.0
179.9
180.9
181.1
181.9
184.5
185.5
186.1
186.5
187*3

33.2
33,8
33.4
34.7
36.3
37.1
38.1
39.3
40.3
40.7
41.3

241.2
244,3
246.5
248.1
250.7
253.8
255.6
257.7
260.2
262.7
264.6

274 A
278.1
279.9
282.8
287.0
290.9
293.7
297.1
300.5
303.4
305.9

257.4
261.8
265.8
269.7
272.6
275.7
279.7
283.3
286 6
290.1
293.0

186.2
186.5
188.0
187.8
186.4

40.6
41.1
40.8
41.6
41.8

263.4
263.3
264.3
265.1
265.5

303.9
304 4
305.1
306.7
307.3

42.4
43 5

266.0
266.6

308.4
310.1

Demand deposits-

52.2
52.5
52.8
53.2
53.7
54.0
54.4
54 J
54.9
55.0
55.5
55.9
56.3

55.8
56.2
56.3
56.4
56.4
56.4
56.9

I
!
i

189.7
188 8

1
r

•

1/

Nonbank
1 thrift institutions 3 /

2/
CD1?-

Currency

•

!••••••!

Implementation of revised Regulation J on November 9, because of Its effects on clearing accounts on bank
balance sheets, had the effect of raising demand deposits a,s calculated for inclusion in money supply. However,
the resulting increase has been eliminated from current money supply data (beginning with the week ended
-Nw^mber-^4)-tr- order to avoid a discontinuity in the series , The upward adjustment of money supply as a result
of revised Regulation J will be incorporated in the statistics at the time of the regular annual benchmark and
seasonal adjustment review
At the same time, historical figures will also be revised on a consistent basis
The forthcoming adjustments to the figures stemming from the change in Regulation J will primarily affect the
level of the series and will themselves have minimal effects on rates of change.
-11 Negotiable time certificates of deposit issued in denominations of $100,000 or more by large weekly reporting
commercial banks
,3/ Average of beginning and end of month deposits at mutual savings banks and savings capital at savings-and
loan associations .
p - Preliminary
r - Revised




FEDERAL RESERVE Statistical Release H 6
Tfable*

COMPONENTS OF MONEY STOCK MEASURES AND RELATED ITEMS
NOT SEASONALLY ADJUSTED, IN BILLIONS OF DOLLARS
Time and savings deposits
|
1[
[ Demand deposits [
j
Other
CD's!/

Currency

Date

US £&vrt
demand 4 /

Nonibank thrift [
1 institutions ^3/

Total

1971*-November
December

52,3
53.5

176.9
181.5

33.7
33.9

231.8
235.1

265.5
269.0

250.0
253.2

3.9
6.7

1972»-January
February
Marph
April
May
June
July
Augus t
September
October
November p

52.6
52,6
53.2
53.6
54.0
54.6
55.3
55.3
55.4
55.9
56.9

182.7
176.4
178.1
182.6
177.3
180.1
182.6
182.0
184. 6
186.3
188.8

33.7
33*6
33.3
33.8
35.1
35.8
37.0
39.9
41.0
41.9
43.3

240.0
243.7
247.5
249.3
251.9
254.2
255.7
258.2
260.3
262.7
263.0

273.^
277.3
280.8
283.1
286.9
290.0

257.5
261.4
2615.2
270.2
272.7
276.6
280,4
282.9
286.3
289.7

7*2
7.27.7
7.6
10.4
6.8
7.2
5.3
5.8
6.6
6;i

|
,

i

1

I

1

1
,

292.7
298.1
301.3
304.5
306.3

[
!

I

1

292.2

Week Ending:

T 9 7 2 - Nov*

1

a
15
22
29
Dec.

6 p
13 p

55.4
56.9
56.9
57.2
56.8

j

57.5
57.9

r

187.7
188.5
189.8
188.2
187.7

41.8
42.9
42.9
43.7
43.9

192. 7
193.7

43.6
44 1

;
i

263.2
262.6
263.0
263.0
263.3

305.0
305.6
305.9
306.7
307.3

264.2
265 1

307.8
309 2

J/

'

r
r

7.1
6.4
4.4
6.0
7.3
7.0
5.1

Implementation of revised Regulation J on November 9, because of its effects on clearing accounts on bank balance
sheets* had the effect of-raising demand deposits as calculated for inclusion in money supply. However, the
resulting increase has been eliminated from current money supply data (beginning with the week ended November 15)
in order to avoid a discontinuity in the series. The upward adjustment of money supply as a result of revised
Regulation J will be incorporated in the statistics at the time of the regular annual benchmark and seasonal
adjustment review. At the same time, historical figures will also be revised on a consistent basis. The forthcoming adjustments to the figures stemming from the change in Regulation J will primarily affect the level of the
aeries and will themselves have minimal effects on rates of change.
2/
Negotiable time certificates of deposit issued in denomination of $100,000 or more by large weekly reporting
commercial banks.
2/ Average of beginning and end of month deposits at mutual savings banks„_and savings capital at savings and loan
associations.
£./ uVS„ Government demand deposits at all commercial banks.



p - Preliminary.

r - Revised.