Full text of H.6 Money Stock Measures : February 16, 1978

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FEDERAL

RESERVE

FEDERAL RESERVE Statistical Releaee H.6

statistical

release

Table 1

For Immediate Ralaata

MONEY STOCK MEASURES

FEB. 16, 1978

IN BILLIONS OF DOLLARS
MX

M2

*4

*3

M!
**

MI Plus Time
M 2 Plus
M 2 Plus
Currency Deposits at
M3 Plus
Deposits at
Plus
Large
Large
Commercial Nonbank
Demand
Banks
Negotiable Negotiable
Thrift
Deposits^ Other Than
CD's^/
CD's!/
Large CD's 2/ Institutions^

Date

FEB.
MAR.
APR.
MAY

JUNE
JULY
AUG.

SEPT*
OCT.
NOV.
DEC.

1978--JAN. P

'

'

"4

"

M

S

M 3 Plus
Large
Negotiable
CD's^

Not Seasonally Adjusted

Seasonally Adjusted
1977— JAN.

M2 "- ~™*J

M, Plus Time
M 2 Plus
M2 Pius
Deposits at Deposits at
Currency
Large
Commercial Nonbank
Plus
Banks
Negotiable
Demand
Thrift
CD's*/
Deposits!/ Other Than Institutions*
Large CD's #

319.7
309.9
312.4
322.3
315.5
321.4
327.2
325.2
326.2
332.5
335.4
344.9

751.2
747.2
756.2
770.0
766.2
774.5
784.0
784.4
788.9
796.4
800.0
811.7

1251.4
1253.1
1269.8
1290.2
1290.3
1305.7
1322.1
1326.6
1337.1
1350.6
1357.4
1374.3

814.3
808.5
817.0
830.1
827.4
837.5
846.8
848.8
854.3
864.7
871.6
687.6

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

343.8

817.2

1385.5

693.6

1461.9

679.1
881.0
682.9

343.1
345.3
345.2

809.5
811.2
812.5

884.8
887.7
889.9

813.1
810.7
812.0
812.8

889.8
886.8
887.6
889.0

357.9
349.6
345.8
337.1

828.4
821.9
619.3
r 811.7

905.6
* 898.4
895.2
887.7

r811. 7
814.1

888.9
692.5

332.7
334.8

r 806.0
811.6

r 884.4
868.3

313.8
314.0
315*4
320.5
320.7
321*9
326.$
326.4
330.4
333.7
333.3
335.4

746.3
75Q.7
756.1
764.6
767.6
772.8
783.5
787.7
792.9
799.6
802.7
806.5

*337.5

r812.1

333.9
335.4
335.7

805.1
805.8
606.9

340.2
336.6
337.2
337.4
r335.9
336.8

1248.9
1258.2
1268.1
1281.2
1289.0
1299.5
1316.9
1329.5
1343.1
1357.1
1365.6
1374.1
1383.3

809.3
814.0
818.2
626.2
829.9
836.8
846.3
850.9
856.2
865.9
873.5
881.2
* 888.4

1312.0
1321.5
1*30.3
1342.8
1351.3
1363.5
1379.8
1392.7
1406.3
1423.5
1436.5
1448.8
r 1459.6

*

MEEK ENDING:
1977-DEC.

14
21
26

1978-JAN.

4
11
18
25

FEB.

1 P
8 P

r

I/ INCLUDES ill "DEM ANO DEPOSITS AT ALL CO MNERCIAL 6A
LESS CASH ITEMS IN THE PROCESS OF COLLECTION ANO 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, 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 SIOO,000 OR MORE BY LARG6 WEEKLY REPORT37 INCLUDES M2,
CREDIT UNION
4/ INCLUDES M2,
5/ INCLUDES M3,

PLUS THE AVERAGE OF THE BEGINNING AND END OF MONTH DEPOSITS OF MUTUAL SAVINGS BANK, SAVINGS AND LOAN SHARES, ANO
SHARE?.
PLUS NEGOTIABLE TIME CERTIFICATES OF DEPOSIT ISSUED IN DENOMINATIONS OF $100,000 OR MORE.
PLUS NEGOTIABLE TIME C E R T I F I C A T E S OF DEPOSIT ISSUED IN DENOMINATIONS OF $100,000 OR MORE.

p - PRELIMINARY; R - REVISED




FEDERAL RESERVE Statistical *•!••*• H.*
Tabl* 2

MONEY STOCK MEASURES
PER CENT CHANGE AT SEASONALLY ADJUSTED ANNUAL RATES

M2
"l

Mi Plus Time
Deposits at
Currency Plus
Commercial
Demand Deposits-5/ Banks Other Than
Large CD's-^

DATE

"3
M2 Plus Deposits
at Nonbank Thrift
institutions^/

M4
M2 Plus Large
Negotiable CD'sy

"5
Ma Plus Large
Negotiable CD's-7

AN.

FROM*

CT.

1977

(3 MONTHS PREVIOUS)

4.6

6.3

JLY

1977

(6 MONTHS PREVIOUS)

6.5

7.3

10.1

9.9

11.6

IN.

1977

(12 MONTHS PREVIOUS)

7.6

8.8

10.8

9.8

11.3

3UR WEEKS ENDING! FEB.
=ROM FOUR WEEKS ENDING *

8,

7,7

10.4

1978

DV.

9, 1977(13 WEEKS PREVIOUS)

4.3

6.4

JG.

10, 1977(26 WEEKS PREVIOUS)

5.2

6.7

9.5

7.4

8.7

9.6

EB.

9,

10.1

1977(52 WEEKS PREVIOUS)

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 (3) CURRENCY OUTSIDE
THE TEASURVt F.R.BANKS AND VAULTS OF ALL COMMERCIAL BANKS.
2/ INCLUDES, IN ADDITION TO CURRENCY AND DEMAND DEPOSITSt 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 M2t PLUS THE AVERAGE OF THE BEGINNING AND END OF MONTH DEPOSITS OF MUTUAL SAVINGS BANKS* SAVINGS AND LOAN SHARES* AND
CREDIT UNION SHARES.
4/ INCLUDES M2* PLUS NEGOTIABLE TIME CERTIFICATES OF DEPOSIT ISSUED IN DENOMINATIONS OF $100*000 OR MORE.
5/ INCLUDES M3, PLU$ NEGOTIABLE TIME CERTIFICATES OF DEPOSIT ISSUED IN DENOMINATIONS OF $100,000 OR MORE.
NOTES ALL RATES OF CHANGE ARE BASED ON DAILY A V E R A G E DATA; RATES OF CHANGE 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

1977 — JAN.
FEB.
MAR.
APR.

Demand Deposits

Currency

81.1
81.8
82.2
83.1
83.6
64.0
85.1
85.5
86.4
87.1
87.8
88.4

MAY
JUNE
JULY
AUG.
SEPT.
OCT.
NOV.
DEC.

1978 — JAN. P

r

89.2

CD's^

Other

Total

Nonbank
Thrift Institutions2'

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
450.9
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
5§7.6

248.3

76.3

474.6

550.9

571.2

WEEK ENDING:
1977-DEC.

14
21
28

88.1
88.5
88.7

245.7
246.9
246.9

74.0
75.2
76.0

471.3
470.4
471.3

545.3
545.7
547.3

1978-JAN.

4
11
18
25

88.7
86.7
89.2
89.6

251.5
247.9
248.0
247.8

76.6
76.0
75.7
76.2

472.9
474.1
474.8
r 475.3

549.6
550.1
550.4
r 551.5

475.8
477.3

553.0
555.7

FEB.

1P
6 P

89.7
89.8

1

r

246.2
247.1

r

77.2
78.4

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 BANKSt SAVINGS AND LOAN SHARES, AND CREDIT ONION 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

Currency

1977 — JAN.
FEB.
MAR.
APR.
MAY
JUNE
JULY

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

80.5
80.8
81.6
82.8
83.4
84.2
85.7
85.8
86.1
66.9
88.4
90.0

239.2
229.1
230.9
239.6
232.1
237.1
241.4
239.3
242.1
245.6
247.0
254.9

88.6

255.2

Domestic
Nonmember^l

168.1
161.0
162.1
167.6
161.8
165.1
167.7
166.3
167.5
170.0
170.3
176.3
175.9

Member

Total^

r

Time and Savings Deposit

Nonbank
Thrift
Institutions4'

U.S.
Gov't.
Demand^/

CD's3/

Other

Total

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

75.0

76.4

473.4

549.8

568.3

4.6

WEEK ENDING:

1977-DEC.

14
21
28

89.8
90.2
90.8

253.3
255.1
254.5

174.9
176.2
175.7

74.2
74.6
74.3

75.2
76.5
77.4

466.4
465.9
467.3

541.6
542.4
544.7

2.9
9.2
5.8

1978-JAN.

4
11
18
25

89.5
89.5
88.7
87.9

268.4
260.1
257.1
249.2

186.8
178.5
176.7
171.6

77.0
77.1
75.7
73.2

77.3
76.6
76.0
76.0

470.5
472.3
473.4
474.5

547.9
548.9
549.4
550.6

7.0
4.4
4.3
4.5

87.5
89.2

r245.2
245.6

169.2
169.5

72.0
72.1

475.3
476.8

551.7
553.5

4.1
4.9

FEB.

I/
2/
3/

1P
6 P

r

r 76.4
76.7

r

r

TOTAL DEPOSITS INCLUDE, IN ADDITION TO THE MEMBER AND DOMESTIC NONMEMBER DEPOSITS SHOWN, DEPOSITS DUE TO FOREIGN AND
INTERNATIONAL INSTITUTIONS AT F.R.BWKS AND Ml TYPE BALANCES AT AGENCIES AND BRANCHES OF FOREIGN BANKS.
BASED ON MOST RECENT CALL REPORT SINGLE-DAY OBSERVATIONS.
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 - DDC, TMTNARY; R - REVISED