Full text of H.6 Money Stock Measures : December 7, 1972

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FEDERAL

RESERVE

statistical

release

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1971—October
November
December
1972--January
February
March
April

May
June
Jul y
August
September
October

Weak e n d i n g
1972-Oct. 4

11
16
25
Nov.

1

a

15

22 p
29 p

!
;

majujowa or ooaJUM
llnyy

1

M»

,

!I

r
itf
"i
»>
Ml eft* \m depot**
Mi ptut timtdepotHt M, plut daaeiftt
Mi plus oeftttiti
j Currtncy #uft
Currency Dus , / it cofflifnsfSfat banks
tt eammereisl btnfci
stnonbiftfc Lf
an f jitrlaseWlli
dtmsnd dspoKt»~
other tnsftjtrfs
thrift initttubom-'
flirlft initttuUMt*/ dtmsnd dspdiiU 2/ other than larga
CD's 3 /
1
Masefielly AajustM
Net aasteftsfly ASjyittT"
i
705*9
458.0
706.5
227.5
227 .'7
1
458*3
1
711.4
461,4
711.6
229.6
227.7
460*8
723.4
470.2
464.7
235,1
228.2
718.1
**»

|

w*lf

1/

for Immtdtitt ftslssts
December 7. 1972

MONEY STOCK MEASURES ^

Ht

228.8
231.2
233.5
23S.0
235.5
236.6
239.4
240.5
241.6
242.3

241.8
242.7
242.2
242.3
242.1
242.7
244.3
244.3
242.8

235.3
229.0
231.3
236.1
231.3
234.7
237.9
237.2
240.0
242.1

475.3
472.7
478.7
485.4
483.2
486.9
493,6
495,5
500.4
504,8

504.0
504.8
504.9
505.4

241.5
242.2
242.9
240.8

503.7
504.4
505,6
503.8

505.4
506,0
r508.6
509.4
508,3

243.2
245.4
246*8
245.4
244 5

506.3
508.0
509.8
508.5
507,8

469,9
475,5
480*1
483.0
486.1
490.4
495,0
498.3
501.8
505.0

!

i
|
1

1

1

727.3
737.4
745.9
752.7
758.8
766.1
774.7
781.6
788.4
795.8

1

1

1

732.8
734,1
744.9
755.6
755,9
765.5
774,0
778.4
786.6
794„.5

|

1

Implementation of revlaed Regulation J on November 9. became 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 reaulting increeee has been eliminated from currant money eupply 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 wllTbe 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.
2/ Includes (1) demand deposits at all commercial banks other than those due to domestic commercial banko 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
3/ 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 lasued trt denominations of $100,000
or more by lerge weekly reporting commercial banks
4/ Includes Mj, plus the average of the beginning and end of month deposits of mutual savings banks and savings
capital at aavlngs and loan associations
p - Preliminary
r - Revised.




* i # * * H * * u r ? t §*#*#-!## »* ###* «rt

MONEY STOCK MEASURES
•sL

!L
*>#*#**

il t«mm«ft«»l fetnit
othif Ihift lirg*

'I
if nonbattfc

CO**'
€kl&b#r 1972 f r w .
July 1^72 (3 months previous)
April 1972 *<6 months previous)
October W I <12 montha
previous)

4.1
6,2

8,1
94

10*6
".3

6.4

10,2

12,6

4.7

7.7

6.6

8,8

7,1

$-2

Four weeks ending IfoV. ?^> 1972
From four weeks ending;
Aug, 3q 1972 (13 we*ks
previous)
H*y H 1972 (26 weeki
previous)
Dec, 1 f 1971 (52 weeks
previous)

• M H « «

1/

y

3/

Includes,(1) demand deposits at all commercial banks other than those due to domestic commercial banks and
the U*S. Govermqent, less caih itemi itt Aha prseesi of collection and F.A.* float*
(2) foreign demand balances at F.R. Banks; and
(3) currency outside the Treasury F,R. Banks and vaults of all cornerdial banks*
Includes in addition to currency end demand deposits, savings deposits, time deposits open account, and time
certificate* Qt deposit! other than negotiable time certificates of deposit issued in denominations of $100,000
or mora by large weekly reporting commerciel banks»
Includes M« plus the average of the beginrving and end of month deposits of mutual savings banks and savings
capital at savings and loan associations,

Mote*



A l l r « t P « nf rhmng* **»• batted

on d a i l y «v»rago dflfcof r a t e s

at Change dtti uul CUMpUUndtfU.

FEDERAL RESERVE tUtlltiCftl K t f f i l t H 4




COMPONENTS OF MONEY STOCK MEASURES AND RELATED ITEMS
m t O N A U Y ADJUSTED, Iff BILLIONS OF DOLLARS
<M

M

,

"^™ " "

,i,i

•rfnrniTinrinMiinm "'"] mmmm m

**H

^

Date

Dvmtnd dtpoiltfrin

Cufrtncy
mmm—immmmmmmmmJ

^ ^*^Tm^nF7!)!{!ffi^^
I

w*V

Other

Total

32.7 '
32.2
33.4

£30.6

236.4

263.3
265.3
269.9

33.2
33.8
33.4

241.2
244.3
246,5

274,4
278,1
279.9

1971—October
November
December

5272
52*2
$2.5

175.5
175,5
175.7

1972--January
February
March
April

52.8
53.2
53*7
54.0
54 »4
54,7
54,9
55,0
55,5
55*9

176.0
178.D
179.9
180.9
181.1
181*9
184.5
185.5
186.1
186.5

34.7

248.1

282.8

36.3
37*1
38.1
39,3
40,3
40,7

250.7
253.8
255.6
257.7
260.2
262,7

287,0
290.9
293.7
297.1
300.5
303,4

55,5
56*0
55,8
56.0

186,3
186.8
186.3
186.3

40.4
40.5
41.0
41.0

262.2
262.1
262.7
263.0

302 .6
302 ,6
303.8
304,1

55,8
56.2
56.3
56.4
56.4

186.2
186.5
r 188.0
187.9
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

May
June

July
August
September
October

Week ending;
1972--Oct, 4
11
16
25
Nov,

1

8
15
22 p
29 p

!
!

j

233*1

!

1

Nonbank
hnft institutions 2 '

248,3
250,?
253.4

!
I

257,4
261.8
265.8
269.7
272.6
275.7
279.7
283.3
286.6
290.1

j

*
Implementation of revised Regulation J on November 9, because of lt9 ( 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 s e r i e s
The upward adjustment of money supply as a result
of revised Reeulatlon J w i l l he incorporated 1n the s t a t i s t i c * a_t the t*me of tho reftu^w^^frnwal benr*vnarV-»rr*
seasonal adjustment review. At the same time, h i s t o r i c a l figures w i l l also be revised on a consistent basis
The forthcoming adjustments to the figures stemming from the change In Regulation J w i l l primarily affect the
level of the series and w i l l themselves have minimal e f f e c t s on rates of change
£ / 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*
^/ Average of beginning and end of month deposits at mutual savings banks and savings capital at savings and
Toan association^
p - Preliminary
r - Revised
W

FEDCRAL RESCJWE Stitiitical flel«*t* H.6
Table 4

COMPONENTS OF MONEY STOCK MEASURES AND RELATED ITEMS
NOT SEASONALLY ADJUSTED, IN BILLIONS OF DOLLARS

Date

1

1\

1

Currency

1 Demand deposits 1

1971--October
November
December

5.2.2
52.8
53.5

175.3
176,9
181.5

1972--January
February
March
April
Hay
June
July
August
September
October

52.6
52.6
53.2
53.6
54.0
54.6
55.3
553,
55.4
55.9

182.7
176>
178.1
182.6
177,3"
180.1
182.6
182.0
184,6
186.3

Week Ending;
1972—Oct. 4
11
18
25
Nov,

1
8
15
22 p
29 p

j
1

55,4
56,4
56.0
55.8

i

|
|
|

55.4
56^
56,9
57,2
56,8

186 .1
185,8
186.9
185.0

1

1
|

i

187.7
188.5
t 189,o
188,3
187,7

Time and savings deposits

CD's 2/

~

|

Other

33.6
33.7
33.9

2-30.5
231.8
235.1

264.1
265.5
269.0

33.7
33.6
33.3
33.8
35.1
35.8
37.0
39.9
41.0
41,9

240.0
243.7
247.5
249.3
251.9
254.2
255.7
258.2
260.3
262.7

273.7
277.3
280.8
283,1
286.9
290.0
292.7
298.1
301.3
304.5

262.1
262.1
262,8
263.0

303.3
303.8
304.8
305.3

41.2
41.7
42,0
42.3
41.8
42,9
42.9
-43.7
43,9

!
\

!
!

263.2
262.6
263.0
263.0
263.4

|

!
!
!

Nonfoank thrift
institutions 3 /

Total

105,0
305.6
305:9
306.7
30-.3

|
|
1

1

U S Gov't
demand 4 /

247.9
250.0
253.2

5.3
3.9
6.7

257.5
261.4
266.2
270.2
272.7
276.6
280.4
282.9
286.3
289,7

7.2
7.2
7.7
7.6
10.4
6.8
7.2
5.3
5.8
6.6

!
!
|

9.0
5.4
5.4
7.3
7.1
6.4
4.4
6.0
7,2

1
J
fmmrmmmmmmmmmmmmmm
Implementation or revised Regulation J on November 9, because of its effects on clearing accounts on bank balame
sheets, had the effect cf raising «le^and deposits as calculated fcr delusion in nonev supply. However, the
resulting increase has been eliminated fr©*« current rcnney supply data (beginning with the week ended November 15)
in order to avoid a discontinuity in tht series* The upward adjuat-swnt of money supply as a result of revised
Regulation J will be^ incorporated In the a t a t l a t i e a at th# 'H«* ^ T-K* r»«»ti*r ***«*• i K*^hMi>w *~<* *•*•****
adjustment review, At the «a«t ttwa, h i s t o r i c a l flgurta «HU alao be revised on a consistent basis. The forth*
coming adjustments Co tht fignftta teaming from tht change in Regulation J mill primarily affect the level of the
series aw! will theimlvftt have mtntatl efftcta on rat** of change,
2/ Ntgotlablt time certificates of deposit iatutd in denomination^ cu $100,non r»r ^ore hv large weekly reporting
cowffiercfat banks,
2/ Averatt of beginning and end of wnth deposit* at mutual tavtngi banks «nd savings capital at savings ®n& loan
aasotiationa,
&/ tl.S, Government dt««n4 depoatt* at a l l tcwwatrtial &anks.




U

p * PrtUitlnarv,

r - Revised.