Full text of H.6 Money Stock Measures : February 10, 1978

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FEDERAL

RESERVE

FEDERAL RESERVE Statistical Release/H.6

statistical

release

Table 1

For Immediate Release

MONEY STOCK MEASURES

FEB.

10, 1978

IN BILLIONS OF DOLLARS
M2

Ml

M4

w3

"i

M5

MI Plus Time
M 2 Plus
M2Plus
M3Plus
Currency Deposits at
Deposits at
Large
Large
Pius
Commercial Nonbank
Banks
Demand
Negotiable Negotiable
Thrift
CD's&/
CD's£/
Deposits^ Other Than Institutions-^
Large CD's 2/

Date

1977 —JAN.
FEB.
MAR.
APR.

HAY
JUNE
JULY
AUG.

SEPT.
OCT.
NOV.
DEC.
1978 —JAN. P

812.0

1383.3

334.9
333.9
335.4
335.7

806.1
805.1
805.8
806.9

879.0
879.1
881.0
882.9

813.1
810.7
812.0
812.8

889.8
886.8
887.6
r 888.9

M3Plus
Large
Negotiable
CD's^/

1363.5
1379.8
1392.7
1406.3
1423.5
1436.5
1448.8

1251.4
1253.1
1269.8
1290.2
1290-^
1305.7
1322.1
1326.6
1337.1
135C.6
1357.4
1374.3

814.3
806.5
817.0
830.1
827.4
837.5
646.8
846.8
854.3
664.7
871.6
887.6

1314.5
1314.4
1330.7
1350.3
1351.4
1368.7
1384.9
1391.1
1402.6
1419.0
1429.0
1450.2

1459.5

343.7

817.2

1385.5

893.6

1461.9

341.5
343.1
345.3
345.2

807.4
809.5
811.2
812.5

881.4
884.8
887.7
889.9

828.4
821.9
819.3
r
811.6

905.8
898.5
r 895.2
r 887.7

807.9

884.2

888.3

337*4

w5

751,2
747.2
756.2
770.0
766,2
774.5
764.0
784.4
788.9
796.4
8OO.O
811.7

1312.0
1321.5
1330.3
1342.8

746.3
750.7
756.1
764.6
/67.6
772.6
783.5
787.7
792.9
799.6
802.7
806*5

M4

319.7
309.9
312.4
322.3
315.5
321.4
327.2
325.2
328.2
332.5
335.4
344.9

809.3
814.0
818.2
826.2
829.9
836.8
846.3
850.9
856.2
865.9
873.5
681.2

313.8
314.0
315.4
320.5
320.7
321.9
326.8
328.4
330.4
333.7
333.3
335.4

M3

Not Seasonally Adjusted

Seasonally Adjusted
1248.9
1258.2
1268.1
1281.2
1289.0
1299.5
1316.9
1329.5
1343.1
1357.1
1365.6
1374.1

M2

M i Plus Time
M 2 Plus
M2 Plus
Currency Deposits at Deposits at
Commercial Nonbank
Large
Plus
Banks
Negotiable
Demand
CD's4/
Depositsi/ Other Than Institutions^
Large CD's^/

* -i r i

O

WEEK ENDING:

1977-DEC.

7
14
21
26

1978- JAN.

4
11
18
25 P

340.2
336.6
337.2
r 337.4

1 P

335.7

*F£8.

r

811.6

888.7

r
r

357.9
349.6
345 . 8
337.1
332.5

I/ 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 . B A N K S ; AND 13) CURRENCY OUTSIDE
THE TREASURY, F.R.BANKS AND VAULTS OF ALL 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 CERTIFICATES OF DEPOSIT ISSUED IN DENOMINATIONS OF $100,000 OR MORE BY LARGE W E E K L Y REPORT3/

INCLUDES E M2! A PLUS N THE AVERAGE OF THE BEGINNING

AND END OF MONTH DEPOSITS OF MUTUAL SAVINGS BANK, SAVINGS AND LOAN SHARES, AND

4/ INCLUDES M2, PLUS NEGOTIABLE TIME CERTIFICATES OF DEPOSIT ISSUED IN
5/ INCLUDES M3, PLUS NEGOTIABLE TIME C E R T I F I C A T E S OF DEPOSIT ISSUED IN
P - PRELIMINARY;
R - REVISED

DENOMINATIONS OF $100,000 OR MORE.
DENOMINATIONS OF $100,000 OR MORE.

* Data from the Boston federal Reserve District haye been »«•-••'ma ted. Money stock measures for th,e week of February 1, may be subject to larger
than usual revisions.




FEDERAL RESERVE Statistical Release H.6
Table 2

MONEY STOCK MEASURES
PER CENT CHANGE AT SEASONALLY ADJUSTED ANNUAL RATES

M

i

fW f\

Mi Plus Time
Deposits at
Currency Plus
Commercial
Demand Deposits^ Banks Other Than
Large CD's- 2 /

DATE

M3

M2 Pius Deposits
at Nonbank Thrift
Institutions^/

M4

M 2 Plus Large
Negotiable CD's- 7

M

M3 Plus Large
Negotiable CD's" 7

N.

FROM:

T.

1977

(3 MONTHS PREVIOUS)

4.4

6.2

LY

1977

(6 MONTHS PREVIOUS)

6.5

7.3

10.1

9.9

11.6

N.

1977

(12 MONTHS PREVIOUS)

7.5

6.8

10.6

9.8

11.2

UR WEEKS ENDING: FEB.
ROM FOUR WEEKS ENDING:

1,

7.7

10.3

5

10.1

1978

V.

2,

1977(13 WEEKS

PREVIOUS)

4.0

6.2

G.

3,

1977(26 WEEKS PREVIOUS)

5.6

6.9

9.5

B.

2,

1977(52 WEEKS PREVIOUS)

7.3

8.7

9.7

10.1

I/ 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 C3) CURRENCY OUTSIDE
THE TEASURY, F.R.BANKS AND VAULTS OF ALL COMMERCIAL BANKS.
2/ INCLUDESt 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.
3/ INCLUDES M2, PLUS THE AVERAGE OF THE BEGINNING AND END OF MONTH DEPOSITS OF MUTUAL SAVINGS BANKS, SAVINGS AND LOAN SHARES, AfcD
CREDIT UNION SHARES.
*/ INCLUDES M2, PLUS NEGOTIABLE TIME CERTIFICATES OF DEPOSIT ISSUED IN DENOMINATIONS OF $100,000 OR MORE.
5/ INCLUDES M3, PLUS NEGOTIABLE TIME CERTIFICATES OF DEPOSIT ISSUED IN DENOMINATIONS OF $100,000 OR MORE.
NOTE: ALL RATES OF CHANGE ARE BASED ON DAILY AVERAGE DATA; V* I£S OF CHANGfc ARE NOT COMPOUNDED.




FEDERAL RESERVE Statistical Release H.6

Table 3

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

Time and Savings Deposits
Date

Currency

1977— JAN.
FEB.
MAR.
APR.
MAY

JUNE
JULY
AUG.
SEPT.
OCT.
NOV.
DEC.
1978 — JAN. P

Demand Deposits
CD's*/

Other

Total

Nonbank
Thrift Institutions- 27

61.1
81.8
82.2
S3.1
83.6
64.0
85.1
85.5
86.4
87.1
87.8
88.4

232.7
232.1
233.2
237.4
237.1
238.0
241.7
242.9
244.0
246.6
245.5
247.0

63.1
63.3
62.2
61.6
62.3
63.9
62.8
63.2
63.2
66.4
70.9
74.7

432.5
436.7
440.6
444.1
446.9
450. V
456.7
459.3
462.6
465.9
469.4
471.1

495.6
500.0
502.8
505.7
509.2
514.8
519.5
522.5
525.8
532.2
540.3
545.8

502.6
507.5
512.1
516.6
521.4
526.7
533.5
541.7
550.2
557.5
563.0
567.6

89.2

248.2

76.3

474.6

550.9

571.2

88.0
88.1
88.5
88.7

246.9
245.7
246.9
246.9

72.9
74.0
75.2
76.0

471.2
471.3
470.4
471.3

544.1
545.3
545.7
547.3

88.7
88.7'
89.2
89.6

251.5
247.9
r 246.0
r 247.8

76.6
76.0
75.7
76.2

472.9
474.1
474.8
V75.4

549.6
550.1
550.4
r 551.6

246.1

77.1

475.6

553.0

WEEK ENDING:
1977-DEC.

7
14
21
28

1978-JAN.

4
11
18

25 P
FEB.

1P

89.7

r

I/ INCLUDES NEGOTIABLE TIME CERTIFICATES OF DEPOSIT ISSUED IN DENOMINATIONS OF $100,000 OR MORE BY LARGE WEEKLY REPORTING COMMERCIAL BANKS.
2/ AVERAGE OF 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 Release H.6

Table 4

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

1977 — JAN.
FEB.
MAR.
APR.
MAY

JUNE
JULY
AUG.
SEPT.
OCT.
NOV.
DEC.
1978— JAN. P

Currency

Total

v

Member

Time and Savings Deposit

Domestic
Nonmember^/

CD's^/

Other

Total

Nonbank
Thrift
Institutions4/

U.S. Gov't.
Demand-^/

80.5
80.8
81.6
82.8
83.4
84.2
85.7
85.8
86.1
86.9
88.4
90.0

239.2
229.1
230.9
239.6
232.1
237.1
241.4
239.3
^42.1
245.6
247.0
254.9

168.1
161.0
162.1
167.6
161.8
165.1
167.7
166.3
167.5
170.0
170.3
176.3

67.5
64.6
65.2
68.3
66.6
68.3
69.5
69.1
70.4
71.3
72.4
74.3

63.1
61.3
60.8
60.1
61.2
63.0
62.8
64.5
65.4
68.3
71.6
75.9

431.5
437.3
443.8
447.7
450.7
453.2
456.9
459.2
460.7
463.8
464.6
466.8

494.6
498.6
504.6
507.7
511 .8
516.1
519.6
523.7
526.1
532.2
536.2
542.7

500.2
505.9
513.6
520.2
524.1
531.1
538.1
542.3
548.2
554.3
557.4
562.6

4.2
4.4
4.5
5.6
3.8
5.2
3.9
3.7
5.4
4.1
3.8
5.5

88.6

255.2

175.8

75.0

76.4

473.4

549.8

568.3

4.6

89.7
89.8
90.2
90.8

251.8
253.3
255.1
254.5

174.2
174.9
176.2
175.7

73.4
74.2
74.6
74.3

74.0
75.2
76.5
77.4

465.9
466.4
465.9
467.3

539.9
541.6
542.4
544.7

3.1
2.9
9.2
5.8

77.0
77.1
75.7
r 73.2

77.3
76.6
76.0
76.0

470.5
472.3
473.4
r 474.6

547.9
548.9
549.4
550.6

7.0
4.4
4.3
4.5

72.0

76.3

475.4

551.7

4.1

WEEK ENDING:
1977-DEC.

7
14
21
28

1978-JAN.

25 P

89*5
89.5
88.7
87.9

268.4
260.1
257.1
r 249.2

1P

87.5

245.0

4
11
18

FEB.

186.8
178.5
r 176.7
r
171.6
169.0

r

I/ TOTAL DEPOSITS INCLUDES IN ADDITION TO THE MEMBER AND DOMESTIC NONMEMBER DEPOSITS SHOWN, DEPOSITS DUE TO FOREIGN AND
INTERNATIONAL INSTITUTIONS AT F.R.BANKS AND Ml TYPE BALANCES AT AGENCIES AND BRANCHES OF FOREIGN BANKS.
2/ BASED ON MOST RECENT CALL REPORT SINGLE-DAY OBSERVATIONS.

3/ INCLUDES NEGOTIABLE TIME CERTIFICATES OF DEPOSIT ISSUED IN DENOMINATIONS OF $100,000 OR MORE BY LARGE WEEKLY
REPORTING COMMERCIAL BANKS.
4/ AVERAGE OF BEGINNING AND END OF MONTH DEPOSITS AT MUTUAL SAVINGS BANKS, SAVINGS AND LOAN SHARES, AND CREDIT UNION SHARES.
5/ U.S.GOVERNMENT DEMAND DEPOSITS AT ALL COMMERCIAL BANKS.
P PRELIMINARY; R - REVISED