Full text of H.6 Money Stock Measures : December 31, 1970

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FEDERAL

RESERVE

statistical

release
For immediate r e l e a s e
December 31, 1970

The s e a s o n a l l y a d j u s t e d money supply d e c l i n e d sharply in the week ending
December 2 3 . However, the average l e v e l thu% far in December^ estimated at $214.7
b i l l i o n , i s about $1 2 b i l L i o n h i g h e r than i n the month of November
T o t a l time
and s a v i n g s d e p o s i t s i n c r e a s e d s h a r p l y further in the l a t e s t week, and in the month
of December thus f a r t h e s e d e p o s i t s have averaged about $4*8 b i l l i o n higher than
the average l e v e l i n November*
MONEY STOCK AND TIME DEPOSITS
(Averages o f d a i l y f i g u r e s , VOL b i l l i o n s of d o l l a r s )
S e a s o n a l l y adjusted

Money Stock
Perxod

Currency
component

Total

Time deposits
Demand deposit
component

|

adjusted
(All commercial
banks)
194 0
194 6

1969—November
December

203-5
203 6

459
46 0

157 6
157 7

1970—January
February
March.
April

205.2
204 5
206.6
208.3
209-2
209-6
210 6
211 8
212 8
213 0
213.5

46 2
46 4
46 7
47 1
47.7
47.8
48 1
48 2
48.2
48.5
48.7

159 0
158 1
159.8
161 2
161.6
161.9
162.5
163 7
164 6
164 5
164 8

193
193
195
198
200
202
208
213
218
222
225

3
5
3
5
3
2
2
2
5
2
0

48
48
48
48

6
6
7
6

164
164
165
165

2
4
2
0

223
223
224
226

4
8
9
0

48 6
48 9
49.0
49 1
48 9

166
r 165
166
164
165

0
4
3
5
6

May
June
July
August
September
October
November

Week ending*
1970—Nov
4

11
18
25
Dec

2

9
16 p
23 p
Average of last 4 weeks
r - Revised
p - Preliminary




|

212
213
213
213

7
1
9
7

214.5
r 214 3
215 3
213 6
214 4

1

j

227 2
228 8
229 7
231 5
229 3

DEMAND DEPOSITS, CURRENCY, AND RELATED ITEMS
(Averaged of daily figures, in billions of dollars

Not seasonally adjusted )

Related deposits
(All commercial banks)
Time
US
Gov' t
adlusted
demand

Money Stock
Period
Total
X UL-Ct X

Currency ! Demand deposit
> component [
component

1969—November
Derember

205.3
209.8

46.4
46.9

1970—January
February
March
April

211.4
202 8
204 7
209.3
205.3
207 8
209 0
208 7
211.4
213 0
215 3

46.1
45.9
46.3
46.6
47.3
47.7
48 3
48 3
48.2
48.5
49.2

May
June
July
August
September
October
November

Week ending
1970—Nov

4

11
18
25
Dec

2
9
16 p
23 p

215,3
214.8
216 3
214 0
217.4
,r 218 4
! 222 3
221 4

!

!
|
|
!
1
'

158.9
162.9

193 4
193 2

5 2
5 ^6

165 4
156.8
158.4
162.6
158.0
160.1
160.7
160.4
163.1
164.5
166.1

192.7
193 0

4
7
6
5
6
6
6
7
6
6
5

l?5.9
1

199.3
201,1
202.3
208.1
214 0
218.4
222 5
224 6

48 5
49 3
49.2
49.1

166 8
165 4
167.1
164 8

223.4
224 0
224 5
225.3

49
50
49
50

168
168
172
171

225.9
227.3
228 3
229 4

3
0
8
2

1
3
5
2

8
1
9
3
4
5
8
1
8
1
6

5 9
i

4.9
4 9
6 7

5
1 r 6
5
8

7
3
0
9

1

I

p
Preliminary.
r - Revised
NOTE
Money stock consists-of (1) demand deposits at all commercial banks, other than
those due to domestic commercial banks and the U S Government, less cash items
in process of collection and Federal Reserve float, (2) foreign demand balances at
Federal Reserve iianks, and (3) currency outside the Treasury, the Federal Reserve
and the vaults of all commercial banks
Time deposits adjusted are time deposits
at all commercial banks other than those due to domestic commercial banks and the
U S Government