Full text of H.6 Money Stock Measures : February 1, 1979

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F E D E R A L

R E S E R V E

statistical

release
For Immediate Rates*

Table 1

FEDERAL RESERVE Statistical Rel#as€H.6

MONEY STOCK MEASURES
FEB.

IN BILLIONS OF DOLLARS
M-1

M-1 +

M-2

M-3

M-1 Plus
M-1 Plus
M-2 Plus
Time
Savings
Currency
Deposits at Deposits at Deposits at
Plus
CB's and
Nonbank
Commercial
Demand
Thrift
Deposits!/ Checkable Banks Other
Deposits at Than Large Institutions^/
CD's &
Thrift tast.2/

Date

M-4

M-2 Plus
Large
Negotiable
CD's 3/

M-5
M-3 Pius
Large
Negotiable
CD'sS/

M-1

M-1 +

M-2

1, 1979

M-4

M-3

M-1 Plus
Savings

M-1 Pius
M-2 Plus
Time
M-2 Plus
Currency
Deposits at Deposits at
Large
Plus
Commercial
Nonbank
CB's and
Negotiable
Demand
Thrift
CD's 5/
Deposits J / Checkable Banks Other
Deposits at Than Large Institutions^/
Thrift Inst. 2/ C D ' s ! /

M-5

M-3 Plus
Large
INOgOUaDK}

CD's*"

terl

1977—DEC.
1978—JAN.
FEB.
MAP.
APP.

338.5
341 .7
341.P
342.9
348.5
350.6
352. *
354.2
356.7
360.9
362.0
360.6
361.2

560.2
564.6
565.0
566.2
572.6
575.2
577.1
577.8
582.0
587.9
588.8
585.3
584.2

809.
815.
819.
822.
830.
835.
840.
846.
853.
862.
867.
870.
872.

29

358.6

582.5

869. 2

6
13
20
27

360.7
360.9
361.2
360.6

584.4
584.5
584.1
583.4

871.
871.
871.
871.

«
8
6
1

3
362.4
10P
359.8
17P r 360.7
24"
357.6

585.1
582.1
r 581.9
578.1

r 873. 3
r 870. 2
r 872. 0
869. 1

MAY

JUNE
JULY
AUG.
SEPT.
1CT.
NOV.
OEC.

i

5
9

1
6
3
2
6
2
5
4
4
5
0

1376. 1
1386. 6
13 9?. 1
1400. 3
1411. 4
1419. 9
1429. 8
1441. 0
1455. 1
1472. 1
1483. q
r 1492. 2
r 149^. 7

883.5
892.2
898.5
904.7
913.7
922.2
927.3
933.6
939.8
950.5
955.6
965.9
r 969.0

348.2
347.5
335.9
338.2
350.9
345.3
351.7
356.0
354.2
358.8
361.3
362.8
371.5

568.1
569.4
558.3
562.7
577.3
571.7
578.1
581.9
579.2
583.7
5 86.2
585.7
592.7

814.9
820.6
813.9
821.1
836.6
833.6
842.0
848.7
850.8
858.4
864.5
867.6
877.6

965.5

359.2

581.5

864.3

962.0

968.1
968.9
969.2
967. 8

367.6
369.3
371.5
370.9

589.7
591.1
592.3
591.1

873.2
875.5
876.8
876.8

971.1
974.7
977.0
976.9

r 970.9
r 969.6
r 972.9
971.4

383.0
373.4
r 369.8
358.2

604.3
595.0
r590.2
577.6

r891.1
r881.7
r 879.5
868.9

991.5
982.7
980.4
970.3

1450. 1
1462. 9
1472. 5
1482. 3
1494. 9
1506. 9
1516. 5
1528. 4
1541. 4
1560. 2
1572. 1
r 1587. 6
r 1595. 7

1377 . 5
1389 .0
1386 . 0
1400 .2
1421 2
1420, 3
1435, ,2
1447, 9
1453 • 0
1466 4
1478, 5
r 1484,• 3
r 1499, 6

890.9
897.0
890.8
901.4
917.9
918.2
928.3
936.0
938.8
948.7
955.3
963.9
r 977.2

1453. 4
1465. 4
1462. 9
1480. 5
1502. 6
1505. 0
1521. 5
1535. 3
1541. 0
1556. 7
1569. 3
1580. 6
:1599. 1

WEEK ENDING :
1978-N r JV.
DEC.

1979-JAN.

1/ 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.
2/ INCLUDES Ml, PLUS SAVINGS DEPOSITS AT COMMERCIAL BANKS, NOW ACCOUNTS AT BANKS AND THRIFT INSTITUTIONS, CREDIT UNION SHARE DRAFT
ACCOUNTS, AND DFMAND DEPOSITS AT MUTUAL SAVINGS 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 ISSUED IN DENOMINATIONS OF $100,000 OR MORE BY LARGE WEEKLY REPORTING, COMMERCIAL BANKS.
4/ INCLUDES M2, PLUS THE AVERAGE OF THE BEGINNING AND END OF MONTH DEPOSITS OF MUTUAL SAVINGS BANK, SAVINGS AND LOAN SHARES, AND
CREDIT UNION SHARES.
5/ INCLUDES M2, PLUS NEGOTIABLE TIME CERTIFICATES OF DEPOSIT ISSUED IN DENOMINATIONS OF $l00tO0O OR MORE.
6/ INCLUDES M3, PLUS NEGOTIABLE TIME CERTIFICATES OF DEPOSIT ISSUED IN DENOMINATIONS OF $100,000 OR MORE.
° - PRELIMINARY; R - REVISED




Table 2

FEDERAL RESERVE SMstteal Relea— H.6

MONEY STOCK MEASURES
PERCENT CHANGE AT SEASONALLY ADJUSTED ANNUAL RATES
M-1

M-1+

M-2

M-3

M-4

M-5

Currency
Plus
Demand
Deposits^

M-1 Rus Savings
Deposits at CB's
and Checkable
Deposits at
Thrift Inst. 2J

M-1 Plus Time
Deposits at
Commercial
Banks Other Than
Large CD's 3,

M-2 Plus Deposits
at Nonbank Thrift
Institutions 4/

M-2 Plus Large
Negotiable CD's y

M-3 Plus Large
Negotiable CD's e/

(3 MONTHS PREVIOUS)

0.3

-2.5

4.5

7.2

Dole

DEC.
SEPT.

FROM:
197R

7.8

9.1

JUNF

1978

(6 MONTHS PREVIOUS)

4.8

2.5

7.5

9.6

9.0

10.4

DEC.

197^

(12 MONTHS PREVIOUS)

6.7

4.3

7.7

8.9

9.7

10.0

FOUR WEEKS ENDING: JAN. 2 4 , 1979
FRHM POUR WEEKS ENDING:
OCT.

?5, 1978(13 WEEKS PREVIOUS)

-2.0

-4.8

1.9

7.0

JULY

? 6 , 1978(26 WEEKS PREVIOUS)

3.2

1.3

6.0

ft.l

JAN.

?•», 1978(52 WEEKS °REVIOUS>

5.5

3.1

6.8

9.0

1/ 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; AM) (3) CURRENCY OUTSIDE
THE TREASURY, F.R.BANKS AND VAULTS OF ALL COMMERCIAL BANKS.
2/ INCLUDES Ml, PLUS SAVINGS DEPOSITS AT COMMERCIAL BANKS NOW ACCOUNTS AT BANKS AND THRIFT INSTITUTIONS, CREDIT UNION SHARE DRAFT T
ACCOUNTS, AND DEMAND DEPOSITS AT MUTUAL SAVINGS 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 ISSUED IN DENOMINATIONS OF $100,000 OR MORE BY LARGE WEEKLY REPORTING COMMERCIAL BANKS.
? ;
4/ INCLUDES M2, PLUS THE AVERAGE OF THE BEGINNING AMD END OF MONTH DEPOSITS OF MUTUAL SAVINGS BANKS, SAVINGS AND LOAN SHARES, AND
CREDIT UNION SHARES.
5/ INCLUDES M2, PLUS NEGOTIABLE TIME CERTIFICATES OP DEPOSIT ISSUEO IN DENOMINATIONS CF $100,000 OR MORE.
6/ INCLUDES M3, PLUS NEGOTIABLE TIME CERTIFICATES OF DEPOSIT ISSUEO IN DENOMINATIONS CF $100,000 OR MORE.
NOTE: ALL RATES OF CHANGE ARE BASED ON DAILY AVERAGE DATA; RATES OF CHANGE ARE NOT CCMPOUNDED.




FEDERAL RESERVE Statistical Release H.6

Table 3

COMPONENTS OF MONEY STOCK MEASURES AND RELATED ITEMS
SEASONALLY AD JUSTED, IN BILLIONS OF DOLLARS
Time and Savings Deposits^
Currency

Date

uemano
Deposits

Time Deposits

Total

Savings 3/
CD's^/

Other

1 UlflU

Nnnhunk
Thrift
Institutions 4/

1977—-DEC.

88.6

249.9

74.0

251.5

219.6

545.0

566.6

1978—JAN.
<=EB.
MAR.
APR.
MAY
JUNE
JULY
AUG.

89.4
90. 1
90.7
91.2
92. 1
92.8
93.3
94.0
95.2
96.0
96.7
r 97.6

252.2
251.7
252.3
257.3
258.5
259.9
260.9
262.8
265.7
266.1
263.9
r 263.5

76.3
79.4
82.0
83.4
87.1
86.7
87.4
86.3
88.1
88.2
95.4
97.0

253.6
256.4
258.7
260.1
262.6
266.1
271.1
274.3
277.4
281.5
288.0
290.6

220.7
220.9
221.0
221.6
222.0
221.7
220.9
222.4
224.2
223.9
221.8
220.2

550.6
556.7
561.7
565.2
571.6
574.5
579.4
583.0
589.7
593.6
605.3
r;607.9

570.7
574.0
577.7
581.2
584.7
589.2
594.7
601.6
609.6
616.5
621.7
r 626.7

SEPT.
OCT.
NOV.
DEC.
WEEK ENDING:
1978-NOV.

29

97.0

261.7

96.4

289.5

221.0

606.9

6

97.2
97.2
97.2
97.9

263.5
263.7
263.9
262.7

96.3
97.1
97.7
96.7

290.3
290.1
290.3
290.5

220.8
220.7
220.1
220.0

607.4
607.9
608.1
607.2

98.1
98.2
r 98.2
98.5

r 264.4
261.6
r 262.6
259.1

r 97.6
r 99.4
r 100.8
102.3

r 291.0
r 290.9
r 292.9
293.9

219.8
219.5
218.3
217.7

OEC.

13
20
27

1979-JAN.

3
10 P
17 P
24 P

r

608.4
609.8
r 612.1
613.9

1/ TIME AND SAVINGS O^POSITS AT ALL COMMERCIAL BANKS.
2/ INCLUDES NEGOTIABLE TIME CERTIFICATES OF DEPOSIT ISSUED IN DENOMINATIONS OF $100,000 OR MORE BY LARGE WEEKLY REPORTING COMMERCIAL BANKS.
'
3/ INCLUDES NOW ACCOUNTS AT COMMERCIAL BANKS.
4/ AVERAGE 0»= BEGINNING AND END OF MONTH DEPOSITS AT MUTUAL SAVINGS BANKS, SAVINGS AND LOAN SHARES, AND CREDIT UNION SHARES,
P - PRELIMINARY; R - REVISED




FEDERAL RESERVE Statistical Reserve H.6

Table 4

COMPONENTS OF MONEY STOCK MEASURES AND RELATED ITEMS
NOT SEASONALLY ADJUSTED, IN BILLIONS OF DOLLARS
Time and Savings Deposit^

Demand Deposits
Date

Currency
Total^

1977—DEC.
1978—JAN.
FEB.
MAR.
APR.
MAY
JUNE
JULY
AUG.
SFPT.
OCT.
NOV.
DEC.

Member

Domestic^7
Nonmember

Total

Other
Checkable
Deposits^

Time Deposits
Savings^
CQ's^

Other

Nonbank
Thrift
Institutions

U.S.
Gov't.
Demand^

90.1

258.1

177.5

76.2

75.9

249.0

217.7

542.6

2.1

562.5

5.1

88.7
89.0
89.9
91.0
91.9
92.9
94.1
94.3
95.0
95. *
97.4
r 99.3

258.8
247.0
248.2
259.9
253.3
258.8
262.0
259.9
263.8
265.6
265.5
r 272.2

177.3
169.0
170.0
177.3
172.6
175.7
177.7
176.1
178.2
179.2
178.2
r 182.9

77.0
73.8
74.3
78.5
76.9
79.1
80.3
79.9
81.8
82.6
83.5
85.4

76.4
76.9
80.2
81.4
84.6
86.3
87.3
88.0
90.3
90.8
96.4
99.5

253.4
257.9
260.7
261.8
264.5
266.5
269.5
274.4
277.5
281.2
284.8
287.8

219.7
220.1
222.2
223.9
223.8
223.8
223.1
222.2
222.1
222.0
220.0
218.4

549.5
554.9
563.2
567.1
572.9
576.6
579.9
584.6
589.9
594.0
601.1
r 605.7

2.2
2.3
2.3
2.5
2.6
2.6
2.7
2.8
2.8
2.8
2.8
2.8

568.4
572.1
579.1
584.6
586.7
593.2
599.3
602.1
608.1
614.0
r 616.7
r 622.0

4.3
4.3
4.8
5.0
4.0
6.2
4,5
3.6
6.2
4.3
8.0

.

10.2

WEFK ENOING:

1978-NOV.

29

97.3

261.9

175.6

82.5

97.6

285.7

219.5

602.8

10.8

DEC.

6
13
20
27

98. 6_
99.0
99.1
100.3

269.0
270.3
272.4
270.6

180.6
181.3
183.3
181.6

84.5
85.4
85.2
85.2

98.0
99.2
100.2
100.0

286.3
287.2
287.3
288.6

219.3
218.9
217.9
217.3

603.6
605.4
605.4
606.0

5.8
4.1

284.4
274.7
r 272.0
261.1

191.6
182.6
r 181.7
174.0

87.8
87.7
r 86.3
83.0

* 100.3
r 101.0
r 100.9
101.5

r 289.6
r 289.6
r 292.1
294.1

218.5
218.8
217.5
216.6

r 608.5
609.3
r 610.6
612.2

1979-JAN.

3
10P
17P
24P

r 98.6
98.7
r 97.8
97.0

12.2
15*1
r 15.4
9.7
8.5

12.4

1/ TIME AND SAVINGS DEPOSITS AT ALL COMMERCIAL BANKS.
2/ TOTAL DEMAND DEPOSITS INCLUDE, IM ADDITION TO THE MEMBE? AND DOMESTIC NONMEMBER DEPOSITS SHOWNt DEPOSITS DUE TO FOREIGN ANO
INTERNATIONAL INSTITUTIONS AT F.R.BANKS AND Ml TYPE BALANCES AT AGENCIES AND BRANCHES OF FOREIGN BANKS.
3/ BASED ON MOST RECENT CALL REPORT DATA.
4/ INCLUDES NEGOTIABLE TIME CERTIFICATES OF DEPOSIT ISSUED IN DENOMINATIONS OF $100 f 000 OR MORE BY LARGE WEEKLY REPORTING
COMMERCIAL BANKS.
5/ INCLUDES NOW ACCOUNTS AT COMMERCIAL BANKS.
6/ IMCLUDES NOW ACCOUNTS AT THRIFT INSTITUTIONS, CREDIT UNION SHARE DRAFT ACCOUNTS, AND DEMAND DEPOSITS AT MUTUAL SAVINGS BANKS,
7/ AVERAGE OF BEGINNING AND END OF MONTH DEPOSITS AT MUTUAL SAVINGS BANKS, SAVINGS AND LOAN SHARES, AND CREDIT UNION SHARES.
8/ U.S. GOVERNMENT DEMAND DEPOSITS AT ALL COMMERCIAL BANKS. INCLUDES TREASURY NOTE BALANCES, BEGINNING NOVEMBER 2 , 1978.
P — PRELIMINARY?
R -~ RFVISED




Special Supplementary Table*
Savings Deposits Authorized for Automatic Transfer
(ATS) and NOW Accounts in New York State
(amounts outstanding, millions of dollars)

ATS Accounts
Insured
Commercial

Banksl'l'
January

*
1/

2]

3/

kj
r




NOW Accounts in New York State

Mutual
Savings

BanksJL/2/

Insured
Commercial

Banksi/2/

Mutual
Savings

BanksI/1/

3

3760

13

470r

14

10

4025r

15

630r

15

17

4310*/

n.a.

695

n.a.

The survey collecting data on outstanding balances is scheduled to be
conducted weekly through March 1979.
Excluding Massachusetts, New Hampshire, Connecticut, Rhode Island,
Maine and Vermont for both commercial banks and mutual savings banks
and Alaska, Washington and Wisconsin for mutual savings banks.
Estimates for all commercial banks are based on data collected by
the Federal Reserve and the FDIC from a stratified random sample of
351 commercial banks.
Estimates for all mutual savings banks are based on data collected
by the FDIC from a stratified random sample of 73 mutual savings
banks•
The standard error associated with this estimate is about $350 million,
Revised.