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FEDERAL RESERVE statistical release
For release at
4:10 PM EST
February 5, 1982

H.6(508)

Money Stock'Kefisions
Measures of the money stock have been revised to
incorporate annual seasonal adjustment and benchmark changes, as well as minor compositional changes. These revisions
had little impact on growth of the monetary aggregates for
the year 1981, although in some cases monthly growth was
affected significantly.
Revisions to seasonal factors
Seasonal adjustment factors have been updated using data for 1981 and, in accordance with a recommendation
of the Committee of Experts on Seasonal Adjustment Techniques/
an X-11-ARIMA method was used to compute seasonal factors for
1982.

Seasonal factors for transactions deposits (the sum of

demand deposits and other checkable deposits) and demand deposits were estimated separately, giving implicit factors for
other checkable deposits. Changes in monthly seasonal factors
are within the range of changes made in earlier years.
Benchmark revisions




Several benchmark revisions were made.
•

Commercial bank deposits data were benchmarked
to the March, June and September 1981 call reports,




- 2 The impact of these adjustments was small, both
on levels and growth rates.
A consolidation adjustment has been made to remove at the Ml level the portion of thrift institutions1 holdings of vault cash that is estimated
to be used for servicing their other checkable
deposit liabilities; this lowers the currency component of the money stock which previously included all vault cash at thrift institutions. The remainder of thrift institution vault cash has been
removed at the M2 level.

This consolidation ad-

justment reduced Ml by less than $.2 billion and
M2 by about $2 billion in the fourth quarter of
1981, but affected growth rates only minimally.
Cash items in the process of collection (CIPC) of
thrift institutions has been netted against transactions deposits at the Ml level, lowering the
level of the aggregates by about $1 billion in
the fourth quarter of 1981 and affecting growth
rates negligibly.

Owing to unavailability of

dataf CIPC of thrift institutions previously had
not been deducted from measures of the money
stock.
Daily deposits data for savings and time deposits
at thrift institutions—reported since November

- 3 1980 as a consequence of the Monetary Control
Act of 1980—have been incorporated, making
these components for thrifts comparable to
those of commercial banks in terms of frequency
of data and definition (daily deposits data include balances in escrow accounts and certain
primary obligations).

Historical data on sav-

ings and small time deposits at thrift institutions prior to November 1980 have been revised
to be consistent with the broader daily deposits
report definition.

Incorporation of these new

data raised the level of savings and small time
deposits at thrifts by about $4 billion in the
fourth quarter of 1981, although growth of M2
for the year was affected only slightly.
Compositional changes
In the revised measures, retail RPs at all depository institutions—issued in denominations of less than
$100 r 000—appear in the small denomination time deposit component of M2; in the old measures, retail RPs entered at the
M3 level as a component of term RPs.

Institution-only money

market mutual funds—which do not offer accounts to individuals—are removed from the money market mutual fund component
of M2 and enter the money stock at the M3 level, along with
large-denomination time deposits and large-denomination term
RPs.




_ 4 The inclusion of retail RPs raises the level of M2
by about $12-3/4 billion in the fourth quarter of 1981 while
the removal of institution-only money funds lowers M2 by
about $29-1/4 billion (after adjusting the overnight RP component of M2 to account for RPs held by such money market
funds).

For the QIV 1980 to QIV 1981 period, the addition of

retail RPs raised M2 growth by 0.7 percent, while the removal
of institution-only money market funds lowered this aggregate's growth by 0.9 percent.
The updated monthly seasonal factors for 1981 and
1982 are shown in Appendix Table 1, and weekly factors for
late 1981 and 1982 are shown in Appendix Table 2.

Weekly

data for Ml and its major components beginning in October
1980 appear in Appendix Table 3.

Monthly levels of Ml shift-

adjusted in 1981 are presented in Appendix Table 4.
cal data will be available shortly on request.




Histori-

Appendix Table 1

SEASONAL FACTORS-MONTHLY
CURRENCY, TRAVELERS CHECKS AND DEPOSIT COMPONENTS OF THE MONEY STOCK

Currency
1

1981-1982
Demandl/
Comni e r c i a l Banks
Thr i f t- TnsM t it i o n s
deposits
Small
Large
Small
Large
plus
denom- denomdenomdenomNonbank other
ination ination
ination ination
travelers checkable Demand^ Savings
time
time
Savings time
time
checks deposits deposits deposits deposits deposits deposits deposits deposits
3
4
9
2
5
6
7
8
10

1981—JANUARY
FEBRUARY
MARCH
APRIL
MAY
JUNE
JULY
AUGUST
SEPTEMBER
OCTOBER
NOVEMBER
DECEMBER

.9941
.9874
.9908
.9935
.9934
1.0000
1.0070
1.0048
.9975
.9990
1.0092
1.0183

.9467
.9515
.9523
.9494
.9624
1.0351
1.1111
1.1137
1.0599
1.0078
.9609
.9442

1.0179
.9736
.9732
1.0129
.9810
.9970
1.0044
.9930
1.0005
1.0052
1.0073
1.0284

1.0182
.9742
.9792
1.0136
.9310
.9971
1.0039
.9920
.9995
1.0042
1.0077
1.0292

.9981
.9905
.9865
.9938
.991^
.9939
1.0092
1.0120
1.0094
1.0128
1.0031
1.0015

1.0030
1.0104
1.0109
1.0038
1.0031
1.0032
.9962
.9917
.991*
.9970
.9931
.9958

1.0191
1.0212
1.0194
3.0053
.9954
.9842
.9732
.9733
.9857
.9889
1.0052
1.0214

1982—JANUARY
FEBRUARY
MARCH
APRIL
MAY
JUNE
JULY
AUGUST
SEPTEMBER
OCTOBER
NOVEMBER
DECEMBER

.9952
.9873
.9898
.9945
.9983
.9990
1.0072
1.0039
.9974
.9999
1.0081
1.0192

.9477
.9529
.9537
.9497
.9630
1.0377
1.1118
1.1118
1.0643
1.0121
.9595
.9451

1.0177
.9738
.9787
1.0126
.9812
.9970
1.0042
.9931
1.0002
1.0052
1.0079
1.0282

1.0180
.9744
.9794
1.0134
.9812
.9972
1.0037
.9923
.9993
1.0041
1.0078
1.0290

.9982
.9902
.9851
.9931
.9908
.9931
1.0098
1.0126
1.0098
1.0126
1.0032
1.0020

1.0031
1.0108
1.0115
1.0038
1.0029
1.0030
.9959
.9913
.9911
.9971
.9934
.9959

1.0194
1.0223
1.0200
1.0063
.9951
.9847
.9731
.9784
.9856
.9890
1.0043
1.0211

.9899
.9961
1.0137
1.0112
1.0179
1.0127
1.0041
.9955

1.0079
1.0099
1.0102
1.0093
1.0001
.^998
.9932
.9878
.9906
.9973
.9952
.9969

1.0005
1.0078
.9951
.9852
.9997
.9960
1.0005
1.0036
1.0063
1.0067
.9993
.9968

.9906
.9868
.9882
.9931
.9895
.9956
1.0144
1.0115
1.0183
1.0124
1.0043
.9953

1.0081
1.0103
1.0108
1.0101
1.0002
1.0003
.9924
.9870
.9904
.9980
.9952
.9970

1.0027
1.0100
.9964
.9851
.9993
.9946
.9988
1.0020
1.0056
1.0070
1.0003
.9987

.9906
.9869
.9888

1/ IN OBSTRUCTING Ml THE SEASONAL FACTORS FOR "DFMAND DEPOSITS PLUS OTHER CHECKABLE DEPOSITS" ARF USFD TO DFRIVF TPF SUM OF
DEMAND DEPOSITS AND OTHER CHECKABLE DEPOSITS, SEASONALLY ADOUS^D. THE DEMAND DFPOSIT QCWPOmW
SEASONALLY ADJUSTED IS CONSTRUCTED USING THE DEMAND DEPOSIT SEASONAL FACTORS. OTHER CHECKABLE DEPOSIT SFASO*1ALLY ADHERED IS DFRIVFD AS TPF DIFFERENCE
BETWEEN THESE TWO SERIES.




Appendix Table 2

SEASONAL FACTORS-WEEKLY
CURRENCY AND DEPOSIT COMPONENTS OF Ml AND COMMERCIAL BANK DEPOSIT COMPONENTS OF BROADER AGGREGATES
October 1981-December 1982

Currency

1

1981—OCT.

NOV.

DEC.

1982—JAN.

FEB.

MAR.

APR.

MAY

JUNE

JULY

Savings
deposits

3

4

Small
denomination
time
deposits
5

Large
denomination
time
deposits
6

1.0200
1.0170
1.0040
.9790
1.0110
1.0140
1.0140
.9890
1.0150
1.0250
1.0280
1.0280
1.0270

1.0180
1.0150
1.0010
.9770
1.0110
1.0120
1.0140
.9870
1.0170
1.0230
1.0300
1.0290
1.0310

1.0177
1.0159
1.0128
1.0082
1.0050
1.0042
1.0024
1.0025
1.0031
1.0069
1.0043
.9988
.9972

.9951
.9984
.9983
.9965
.9954
.9933
.9923
.9928
.9930
.9946
.9951
.9961
.9982

.9958
.9925
.9873
.9890
.9917
.9980
1.0032
1.0135
1.0159
1.0118
1.0158
1.0256
1.0333

6
13
20
27
3
10
17
24
3
10
17
24
31
7
14
21
28
5
12
19
26
2
9
16
23
30
7
14

1.0110
1.0030
.9930
.9810
.9820
.9950
.9910
.9820
.9840
1.0000
.9940
.9880
.9820
1.0000
1.0050
.9930
.9820
.9970
1.0060
.9980
.9910
.9960
1.0090
1.0020
.9970
.9910
1.0190
1.0130
1.0050
.9960
1.0030
1.0150
1.0080
.9980
.9900
1.0130
1.0010
.9940
.9840
1.0050
1.0070
.9990
.9900
.9970
1.0150
1.0090
1.0070
1.0050
1.0210
1.0180
1.0220
1.0200

1.0760
1.0370
1.0150
.9740
.9820
.9820
.9790
.9570
.9740
.9850
.9840
.9710
.9750
1.0170
1.0260
1.0210
.9940
.9930
.9840
.9820
.9640
.9860
1.0000
1.0090
.9920
.9890
1.0250
1.0150
1.0030
.9780
1.0000
1.0060
.9960
.9770
.9900
1.0040
1.0200
.9970
.9770
1.0220
1.0150
1.0060
.9810
1.0060
1.0150
1.0160
.9940
1.0050
1.0240
1.0270
1.0300
1.0200

1.0720
1.0370
1.0180
.9730
.9860
.9830
.9810
.9570
.9740
.9840
.9880
.9710
.9780
1.0160
1.0280
1.0230
.9930
.9990
.9840
.9820
.9630
.9860
.9990
1.0090
.9920
.9900
1.0190
1.0180
1.0010
.9780
1.0010
1.0060
.9940
.9760
.9870
1.0000
1.0190
.9960
.9770
1.0160
1.0140
1.0020
.9800
1.0120
1.0130
1.0150
.9900
1.0110
1.0220
1.0290
1.0310
1.0250

1.0021
1.0024
.9987
.9936
.9905
.9910
.9916
.9894
.9857
.9846
.9841
.9856
.9908
1.0011
.9991
.9902
.9870
.9892
.9914
.9921
.9909
.9907
.9934
.9934
.9932
.9971
1.0067
1.0098
1.0100
1.0089
1.0112
1.0136
1.0129
1.0115
1.0096
1.0103
1.0098
1.0069
1.0083
1.0165
1.0166
1.0135
1.0091
1.0057
1.0041
1.0027
1.0024
1.0028
1.0067
1.0049
.9998
.9975

.9999
1 .0015
1 .0033
1 .0049
1 .0073
1 .0100
1 .0102
1 .0104
1 .0105
1 .0121
1 .0126
1 .0109
1 .0084
1 .0047
1 .0041
1 .0040
1 .0035
1 .0025
1 .0025
1 .0028
1 .0032
1 .0045
1 .0056
1 .0043
1 .0022
.9993
.9984
.9972
.9958
.9943
.9918
.9921
.9915
.9909
.9935
.9912
.9911
.9912
.9905
.9945
.9980
.9985
.9969
.9956
.9936
.9924
.9927
.9928
.9946
.9951
.9960
.9980

1.0186
1.0180
1.0163
1.0206
i.U22b
1.0214
1.0183
1.0214
1.0227
1.0197
1.0192
1.0189
1.0168
1.0107
1.0069
1.0015
1.0032
.9924
.9946
.9960
.9980
.9953
.9889
.9832
.9780
.9821
.9758
.9703
.9716
.9738
.9738
.9767
.9786
.9803
.9845
.9862
.9809
.9846
.9922
.9869
.9913
.9879
.9884
.9913
.9969
1.0025
1.0121
1.0158
1.0117
1.0147
1.0236
1.0319

28
4
11
18
25
SEPT. 1
8
15

22
29

DEC.

Demand
depositsi/

1.0050
1.0060
.9970
.9890
.9990
1.0150
1.0090
1.0070
1.0080
1.0210
1.0170
1.0240
1.0170

AUG.

NOV.

Commercial Banks

7
14
21
28
4
11
18
25
2
9
16
23
30

21

OCT.

Demand
deposits
plus
-other
checkable, .
deposits zf
2

6
13
20
27
3
10
17
24
1
8
15
22
29

37 IN CONSTRUCTING Ml THE SEASONAL FACTORS FOR "DEMAND DEPOSITS PLUS OTHER CHECKABLF DEPOSITS" ARE USED TO DERIVE THE SUM OF DEMAND
DEPOSITS AND 0CHER CHECK/HLE DFPOST" \ SEASO'
V ADJUSTED. THE DEMAND DEPOSIT COMK^LNT SEASONALLY ADJUSTED I S CONSTRUCTED USING
THE DEMAND DEPOSIT SEASONAL FACIOkS.
OTHER CHECKABLE DEPOSITS SEASONALLY ADJUSTED I S DERIVED AS THE DIFFERENCE BETWEEN THESE TWO
SERIES.




APPENDIX TABLE 3
M1 AMD COMPONENTS
BILLIONS OF DOLLARS
HOT SEASONALLY ADJUSTED

SEASONALLY ADJUSTED
•

" ~

•— " " •*" —

—

—

—

—

— —

—

—

—

•

M1
1960

1981

OCT 1 . . .
OCI
8...
OCT 1 5 . . .
OCT 2 2 . * . |
OCT 2 9 . . .
NOV
5...
NOV 1 2 . . .
NOV 1 9 . . .
NOV 2 6 . . .
DEC 3 . . .
DSC 1 0 . . .
DEC 1 7 . . .
DEC 2 4 . . .
DEC 3 1 . . .
JAN 7 . . .
JAN 1 4 . . .
JAN 2 1 . . .
JAN 2 8 . . .
FEB 4 . . .
fEB 1 1 . . .
I£B 1 3 . . .
IIB 2 5 . - .
MAR 4 . . .
MAR 1 1 . . .
MAE 1 8 . . .
MAR 2 5 . . .
APR 1 . . .
APR 8 . . . J\
APR 1 5 . . .
APR 2 2 . . . I
APR 2 9 . . .
MAY 6 . . .
MAY 1 3 . . .
MAY 2 0 . . .
MAY 2 7 . . . j
JUN 3 . . .
JUN 1 0 . . .
JUN 1 7 . . .
JUN 24
JUL 1 . . .
JUL
8...
JUL 1 5 . . .
JUL 2 2 . . .
JUL 2 9 . . .
AUG 5 . . . J
AUG 1 2 . . .
AUG 1 9 . . .
AUG 2 6 . . .
SEP 2 . . .
SEP 9 . . . J
SEP 1 6 . . .
SEP 2 3 . . .
SEP 3 0 . . .
OCT 7 . . .
OCI 1 4 . . .
OCI 2 1 . . .
OCT 2 8 . . .
NOV 4 . . .
NOV 11
NOV 1 8 . . .
NOV 2 5 . . .
DEC 2 . . . J
DEC 9 . . .
DEC 1 6 . . .
DEC 2 3 . . . |
DEC 3 0 . . , I




412.5
414.3
415.4
416.1
416.8
417.3
418.9
418.3
419.0
416.8
415.3
415.1
412.8
412.4
417.1
418.6
419.6
417.8
416.4
419.2
419.8
420. 1
422.5
424. 1
424.4
424.0
426.8
432.2
432.8
434.5
432.0432.3
431.0
429.0
426.5
428. 1
429.0
428.8
427.7
427.2
431.8
429.4
428.5
427.9
431.1
431.9
430.4
430.6
430.8
432.0
432.5
430.5
429.3
433.2
433.0
433.6
432.9
434.5
435.8
436.9
435.3
438.6
440.3
440.1
440.7
441.0

CURRENCY

|

i

|
I
|

|

|
I
|
I
I
|
|
I
I
I
I
I
I
I

114.3
114.6
114.9 J
115.1
115.2
115.4
115.4
115.5
115.7
115.9
116.2 I
116.2
116.4
116.6
116.3
116.3
116.4
116.5
116.8
117.0 |
117.3
117.4 I
117.4
117.4
117.6 I
117.9
118.2
118.8
118.9
118.9
119.3
119.2
119.2
119.3
119.9
119.2
119.5
119.7
119.9
120.1
120.4
120.4
120.6
120.7
120.5
120.6
120.7
120.8
120.8
121.4
121.1
121. 1
121.2
121.2
121.3 |
121.3
121.4
121.5
121.7 |
121.7
122.0
122.0
122.6
122.8
123.3
123.8

DEMAND
DEPOSITS
269.8
270.9
271.6
271.9
271.8
271.9
272.5
272.2
272.2
269.7
268.3
267.8
265.5
264.2
262.1
255.5
252.9
250.2
245.8
245.9
244.9
242.8
244.6
244.3
242.8
241.3
242.8
244.3
242.9
243.3
241.8
243.1
241.9
240.5
239.5
238.8
238.1
237.9
237.0
236.8
238.8
236.5
235.6
235.7
237.1
237.3
236.1
236.1
235.8
235.3
235.5
234.0
233.3
236.4
236.3
236.9
235.4
235.7
235.3
236.1
234.6
236.9
236.4
235.8
236.1
235.5

OTHER
|1
CHECKABLE |J
DEPOSITS |
1
24.5
1|
24.6
|I
24.9
||
|
25.2
||
25.7 J |
26.0
|I
27.0
||
26.5 J I
27.1
||
27. K J J
26.7
||
27.0
i1
|
26.8
|I
27.3 J |
34.5
| |
42.6 1 |
46.2
||
47.0
||
49.7
||
52.1 1 I
53.4
1I
55.6
||
|
56.3 1 i
58.2 J I
59.7
|I
60.6
|I
60.6
i|
64.9
|J
66.7 J |
68.0
iI
66.7
||
65.7
II
65.7
| |
65.0 J I
64.8
I|
65.9
||
67.2 1 j
67.0
|I
66.6
i|
66.2 J I
68.4
||
68.3
|I
68. 1 i J
67.2 [ I
|
69.2
||
69.7
||
69.4
|I
69.5
||
69.9
|I
71.2
||
71.7
|I
71.2
|I
I
70.5 J i
I
71.3
|I
1
71.1 J i
I
71.2 J I
1
71.8
|i
73.1
|I
74.5
||
74.8
||
74.4 J |
75.4
[ |
77.0 J |
77.1
||
1
77.0 J 1
77.4
i |

j
Ml

DEMAND
DEPOSITS

CURRENCY

CIHEfi
|
CHECKABLE |
DEPOSITS |

|
407.1
419.9
421.0
416.2
411.8
422.3
424.8
421.2
416.1
423.4
424.7
426.3
423.0
422.9
437.5
428.6
421.1
407.7
410.3
413.0
412.5
403.2
414.3
419.3
417.8
411.9
419.3
436.6
440.7
441.9
426.1
431.1
426.0
422.2
416.6
423.9
430.1
431.6
423.6
425.1
441.3
435.8
429.7
422.5
434.0
435.9
429.7
423.9
428.2
436.9
439.6
427.7
421.6
440.0
439.0
434.7
425.7
437.5
441.6
441.9
432.8
443.8
450.1
450.2
451.5
450.7

I

|
|

j

J

|

I
|
|
I
|
|
|
I
|
I

112.9
115.4
115.4
114.7
114.0
115.5
117.2
116.6
116.4
117.2
118.6
116.2
119.4
118.1
117.5
116.2
115.3
114.0
114.9
116.3
116.4
114.9
115.9
117.3
116.9
116.5
116.6
119.1
118.9
118.4
117.0
119.3
119.5
118.8
119.0
118.7
120.7
120.0
119.4
119.3
123.0
121.6
121.1
120.0
121.5
122.4
121.6
120.3
120.0
122.8
121.1
120.2
119.4
121.8
122.0
121.0
120.1
121.4
123.5
122.8
122.8
123.0
125.2
124.9
126.2
125.9

|
I
|

|
I
|

|
|
I

|
|
|
|
|
|
I

|
I
I
|
I
|
|
I
I
I
|
I
I
I
I

265.4
275.0
276.0
271.9
268.3
276.2
276,3
273.8
269.2
275.1
274.5
276.9
272.6
274.0
279.7
265.2
255.6
243.2
242.6
241.2
240.0
231.6
239.3
240.4
238.9
232.9
238.6
248.0
249.7
250.2
239.6
242.6
238.0
235.6
230.4
235.9
238.1
240.0
233.5
235.8
244.0
240.3
235.4
230.5
238.0
238.3
233.9
229.9
233.7
236.7
240.9
231.6
228.4
240.7
239.9
237.1
230.0
238.3
238.2
239.4
231.6
240.9
241.8
242.9
243.0
242.8

I
I

I
|

|
1
i
|
|
1
I
|
I
|
1
1
|
1
1
1
|.
I
I
I
I
|
|
|
|
1
|
I
1

24.6
25.5
25.5
25.6
25.6
26.6
27.2
26.9
26.6
27.2
27.7
27.3
27.0
26.9
36.4
43.2
46.2
46.5
46.6
51.5
52.2
52.7
55.1
57.6
57.9
58.6
60.1
65.6
68.0
69.4
65.4
65.1
64.5
63.6
63.1
65.1
67.1
67.3
66.3
65.4
69.7
69.3
68.5
67.2
69.6
70.4
69.5
69.0
69.9
72.9
73.1
71.4
69.4
73.1
72.7
72.3
71.4
73.7
75.8
75.6
74.3
75.8
79.0
78.3
78.2
77.9

|
|
|
J
J
J
|
i
|
|
|
|
J
I
|
|
|
|
J
|
|
|
|
i
|
1
|
|
|
|
|
J
|
|
I
|
J
J
1
|
|
|
|
|
|
|
|
1
|
I
|
|
J
|
J
|
J
|
|
|
|
[
|
|
I
I

Appendix Table 4
REVISED Ml SHIFT-ADJUSTED
(in billions of dollars)

Seasonally
adjusted
414.4

418.6

FEBRUARY

413.4

404.2

MARCH

416.8

409.2

APRIL

423.6

426.3

MAY

420.1

414.2

JUNE

418.8

418.0

JULY

419.5

422.1

AUGUST

420.8

420.0

SEPTEMBER

420.7

420.8

OCTOBER

422.2

423.8

NOVEMBER

425.0

428.2

DECEMBER

428.7

439.0

1981—JANUARY




Not seasonally
adjusted

FEDERAL RESERVE statistical release
For Release at 4:10 p.m. F.ST

H.6 (508,i
Table 1

FEB.

MONEY STOCK MEASURES AND LIQUID ASSETS
Billions of dollars, seasonally adjusted unless otherwise noted
|
Ml

1
Date

Sum of currency, !
travelers checks,
i demand deposits
and other
[
checkable
deposits1

M2

Addenda:

Overnight RPs
at commercial
banks plus
overnight
Eurodollars2
NSA

M1 plus
overnight RPs and
Money market
Eurodollars, MMMF
mutual fund
balances (gen. pur.
balances
(general purpose and broker/dealer),
and savings
and broker/dealer)
and small
NSA
time deposits3

M3

M2 plus large
time deposits,
term RPs
and institutions
—only MMMF
balances4

5 , 1982
L

M3 plus other
liquid assets5

35.0

62.3
61.8

1641.9
1656.0
1656.1

1932.5
1952.6
1963.1

2.327.5
2352.5
2370.4

417.9
419.4
424.4

35.8
35.2
36.5

65.8
75.1
85.3

1665.6
1678.1
1701.0

1984.1
2001-8
2023.9

2397.3
2418.2
2438.1

APE.
1AY
JUNE

433.3
429.2
428.4

36.8
40.9
42.9

95.8
98.6
102.8

1723.1
1732.3
1740.7

2046.2
2065.1
2082.0

2455.5
2483.1
2506.6

juiy
AUG.
52PT.

429.3
430.9
431.2

42.3
43.1
39.6

112.7
122.1
130.4

1749.9
1767.0
1778.1

2098.8
2120.6
2138.0

2526.7
2554.4
2577.3

OCT.
NOV.
DEC.

432.9
436.4
440.8

36.2
36.9
37.8

137.1
144.6
150.8

1789.3
1809.6
1821.8

2151.0
2174.4
2187.5

438.6
440.3
440. 1
440.7
441.0

33.1
38.1
40.0
39.2
34.8

148.8
150.9
151.7
151.1
150.3

447.7
450.5
449.0

40.0
42.3
42.1
44.4

151.2
154.1
155.2
155.9

19 3 0 - O C T .
NO V DEC.

415.5
417.5
414,5

'981-J&N.
FEB.
MAR.

34.0
34.8

61.9

J2ZK ENDING:
1981-DEC.

2
9
16
23
30

1982-JAN.

6
13

20 P
27 P
1/

447.6

AVEBAGES OF DAILY FIGURES FOB (1) CURBENCY OUTSIDE THE IREASUBY, FEDEBA1 BESERVE BANKS, AND THE VAULTS
OF COMMERCIAL BANKS; (2) TRAVELER'S CHECKS OF NONBANK ISSUERS; (3) DEMAND DEPOSITS AT ALL COMMERCIAL
BANKS OTHER THAN IHOSi! DUE TO DOMESTIC BANKS, THE U.S. GOVERNMENT, AND FOBEIGN BANKS AND OFFICIAL
INSTITUTIONS LESS CASH ITEMS IN THE PROCESS OP COLLECTION AND FEDEBAL RESERVE FLOAT; AND (4) OTHEfi
CHECKABLE DEPOSITS (OCD) CONSISTING OF NEGOTIABLE OBDEB OF WITHDRAWAL (NOfc) AND AUTOMATIC IBANSFER
SEBVICE (ATS) ACCOUNTS AT BANKS AND THRIFT INSTITUTIONS, CREDIT UNION SHARE DRAFT ACCOUNTS (CUSd), AND
DEMAND DEPOSITS AT THRIFT INSTITUTIONS. THE CURRENCY AND DEMAND DEPOSIT COMPONENTS EXCLUDE THE
ESTIMATED AMOUNT OF VAULT CASH AND DEMAND DEPOSITS, RESPECTIVELY, HELD BY THRIFT INSTITUTIONS 10 SERVICE
THEIR OCD LIABILITIES.
2/ OVERNIGHT (AND CONTINUING CONTBACT) BPS ARE THOSE ISSUED BY COMMERCIAL BANXS TO OTHER THAN DEPOSITORY
INSTITUTIONS AND MONEY MARKET MUTUAL FUNDS (GENERAL PURPOSE AND BROKER/DEALER), AND OVERNIGHT
EURODOLLARS AR*' THOSE ISSUED BY CARIBBEAN BRANCHES OF MEMBER BANKS 20 U.S. RESIDENTS OTHEfi THAN DEPOSITORY
INSTITUTIONS AND MONEY MARKET MUTUAL FUNDS (GENERAL PURPOSE AND BfiOKER/DEALER).
3/ INCLUDES SAVINGS AND SMALL DENOMINATION TIME DEPOSITS (TIME DEPOSITS — INCLUDING RETAIL BPS — IN AMOUNTS
OF LESS THAN $100,000) ISSUED BY COMMERCIAL BANKS AND THBIFT INSTITUTIONS. M2 WILL DIFFEB FROM IHE SUM OF
COMPONENTS PRESENTED IN SUBSEQUENT TABLES BY A CONSOLIDATION ADJUSTMENT THAT REPRESENTS THE ESTIMATED AMOUNT C.
DEMAND DEPOSITS AND VAULT CASH HELD BY THRIFT INSTITUTIONS TO SEBVICE TIME AND SAVINGS DEPOSITS.
4/ INCLUDES LARGE DENOMINATION TIME DEPOSITS ISSUED BY COMMERCIAL BANKS AND THRIFT INSTITUTIONS IN AMOUNTS OF
$100,000 OB MORE, LESS HOLDINGS OF DOMESTIC BANKS, THBIFT INSTITUTIONS, IHE U.S. GOVERNMENT, MONEY MARKET
MUTUAL FUNDS AND FOREIGN BANKS AND OFFICIAL INSTITUTIONS. M3 WILL DIFFER FAOH IHE SUM OF COMPONENTS PRESENTED
IN SUBSEQUENT TABLES BY A CONSOLIDATION ADJUSTMENT THAT REPRESENTS THE ESTIMATED AMOUNT OF OVERNIGHT RPS HELD
BY INSTITUTIONS-ONLY MONEY MARKET MUTUAL FUNDS.
5/ OIHEB LIQUID ASSETS INCLUDE THE NONBANK PUBLIC'S HOLDINGS OF U.S. SAVINGS BONDS, SHOKI-TERM TREASURY
SECURITIES, COMMERCIAL P A P E B , BANKERS ACCEPTANCES AND TERM EUBODOILABS NET OF MONEY MARKET MUTUAL FUND
HOLDINGS OF THESE ASSETS.
NOTE; P INDICATES PRELIMINABY DATA. SPECIAL CAUTION SAOULD BE IAKEN IN INTERPRETING WEEK-TO-WEEK CHANGES IN
MONEK SUPPLY DATA, WHICH ARE C?TEN HIGHLY VOLATILE AND SUBJECT TO REVISION IN SUBSEQUENT WEEKS AND
MONTHS. PRELIMINARY DATA ARE SUBJECT TO WEEKLY REVISIONS UNTIL THEY ABE FINAL.




H.6(508)
Table 1A

MONEY STOCK MEASURES AND LIQUID ASSETS
Billions of dollars, not seasonally adjusted
Addenda:

M1

Oats

Sum of currency,
travelers checks,
demand deposits
and other
checkable
deposits1

Overnight RPs
at commercial
banks plus
overnight
Eurodollars2
NBA

M2
M1 plus
Money market
overnight RPs and
mutual fund
Eurodollars, MMMF
balances (gen, pur.
balances
(general purpose and broker/dealer),
and broker/dealer)
and savings
and small
NSA
time deposits3

M3

M2 plus large
time deposits,
term RPs
and institutions
—only MMMF
balances4

L
M3 plus other
liquid assets5

1980-OCT.
NOV.
DEC.

417.1
420.7
424.6

34.G
34.8
35.0

61.9
62.3
61.8

1646.8
1656.1
1662-4

1935.6
1953-9
1973.8

2328.3
2352.3
2380.2

1981-JAN.
FEB.
MAR-

422.0
410.1
416.7

35.8
35.2
36.5

65.8
75.1
85.3

1672.1
1672.3
1696,8

1994.8
2001.2
2023-9

2409.1
2423.5
2441.6

APE.
JUKE

436.0
423.2
427.6

36.8
40.9
42.9

95.8
98.6
102.8

1729.1
1723.8
1739.0

2052.7
2055.6
2076.3

2464.2
2476.3
2501*8

JULY
AUG.
SEPT.

432.1
430.2
431.5

42.3
43.1
39.6

112.7
122.1
130.4

1752.3
1761.5
1775.6

2094.7
2110.1
2132.2

2518.3
2538^.9
2568.4

OCT.
NOV.
DEC.

434.5
439.7
451.1

36.2
36.9
37.8

137.1
150.8

1793.1
1809.2
1fi28.5

2152.4
2175.3
2199.2

443.8
450.1
450.2
451.5
45£. 7

33.1
38.1
40.0
39.2
34.8

148.8
150.9
151.7
151. 1
150.3

473.1
462.6
452.7
436.7

40.0
42.3
42.1
44.4

151.2

MAY

144.6

WEEK ENDING;

1981-DEC.

2
9
16
23
30

1982-JAN.

6
13

20 P
27 P

NOTE:

SEE TABLE 1 FOR FOOTNOTES.




154.1
155.2
155.9

*

H.6(508)
Table 2

MONEY STOCK MEASURES AND LIQUID ASSETS
Percent change at seasonally adjusted annual rates
Date

M1

M2

M3

SEW.

19B1

(3 HOMTHS PREVIOUS)

8.9

9.8

9.3

JUNE

1981

(6 flOHTHS PREVIOUS)

5«8

9^.3

10.1

DEC,

1980

(12 XOMTflS PREVIOUS)

6.3

FOUR BEERS EHDIHG; JAH. 2 7 ,
FfiOfl FOUR WEEKS EMDIMG;

1982

OCT.

2 8 # 1981 (13 SEEKS FBEVIOOS)

U.3

JULY

29 # 1981 [26 iEEKS PBE?IOUS)

9.0

JAN.

2 8 , 1981 (52 SEEKS PBEVIOUS)

7.3




10.0

11.4

H.6 (508)
Table 3

COMPONENTS OF MONEY STOCK MEASURES AND LIQUID ASSETS
Billions of dollars, seasonally adjusted unless otherwise noted
Savings deposits
Currency1

Date

Travelers
checks2

Demand
deposits3

Other
Overnight
checkable
RPs
deposits4
(net)*
NSA

Overnight
Eurodollars6
NSA

at
commercial
banks

at
thrift
institutions

total

Small denomination
time deposits7
at
at
total
thrift
commerinstitucial
tions
banks

Money market
mutual fund balances*
general
purpose institution
only
and broker/
dealer

1980-OCI.
NOV.
DEC.

114.9
115.6
116.2

4.0
4. 1
4.2

271.5
271.1
267.2

25.1
26.7
26.9

29.6
30.1
30.5

4.4
4.7
4.5

189.9
190.2
183.6

223.4
220.9
215.3

413.3
411.1
398.9

278.0
284.8
292.0

441.9
450.5
458.5

721.0
736.4
751.7

61,. 9
62-3
61.8

15.5
14.7
13.9

1981-JAN.
FEB.
MAB.

116.3
117.2
117.8

4
1.2
1.2
1.2

254.1
244.8
243.0

43.2
53.3
59.5

30.6
30.4
31.9

5.2
< 4.9
4.6

176.6
173.5
173.6

207.9
205.0
204.9

384.5
378.5
378.5

300.9
305.2
309.2

465.9
469.1
471.2

768.1
775.7
782*0

65.8
75.1
85.3

15.0
17.3
20.2

APB.
MAY
JUNE

119.1
119.4
119.7

1.2
1.2
1.2

243.5
240.4
237.7

66.5
65.2
66.7

31.8
34.5
36.5

5.0
6.5
6.4

173.3
170.9
168.0

205.5
202.6
196.6

378.8
373.5
366.8

312.2
317.1
322.6

470.2
476.3
479.2

784.1
795.8
805.5

95.8
98.6
102.8

21.3
19.5
20.1

JULY
AUG.
SEPT.

120.5120.7
121.1

((.2

236.7
236.6
234.7

68.0
69.4
71.2

35.4
35.3
32.7

6.9
7.8
6.9

165- 0
160.5
157.5

194.9
189.0
185.6

360.0
349.5
343.1

327.2
336.0
341.5

477.9
481- 1
484.7

811.5
827.1
839.7

112.7
122.1
130.4

21.6
23.3
26.6

OCT.
NOV.
DEC.

121.3
121.8
123.1

1.3
1.3

235.7
235.7
236.4

71.6
74.7
77.0

30.2
30.4
31.1

5.9
6.5
6.7

155.3
156.4
157.0

184.3
184.5
186.6

339.6
340.9
343.5

347.9
352.9
352.6

488.6
491-4
489.2

849.8
656.7
854.6

137.1
444.6
150.8

29.4
32.0
33.7

1.3

WEEK ENDING:
1981-DBC.

2
9
16
23
30

122.0
122.6
122.8
123.3
123.8

236.9
236.4
235.8
236.1
235.5

75.4
77.0
77.1
77.0
77.4

26.4
32.1
33.7
32.2
27.4

6.6
6.0
6.3
7.0
7.4

156.3
156.5
156.7
157.0
157.3

353.1
353.0
353.1
352.6
351.5

148.8
150.9
151.7
151.1
150.3

34.1
34.6
34.3
33.4
32.2

1982-JAN.

6
13
20 P
27 P

123.9
123.4
123.8
124.2

243.7
241.2
237.8
236.7

75.7
81.5
83.1
82.4

32.6
34.6
35.0
36.5

7.5
7.5
7.1
7.9

158.4
159.0
158.9
159.0

351.8
352.7
353.4
354. 1

151.2
154.1
155.2
155.9

33.2
32.7
33.0
31.9

1/
2/
3/
4/
5/
6/
7/




CURRENCY OUTSIDE THE U.S. TREASURY, F.R. BANKS AMD VAULTS OF COMMERCIAL BANKS. EXCLUDES THE ESTIMATED AMOUNT OF VAULT CASH
CASH HELD BY THRIFT INSTITUTIONS TO SERVICE THEIfi OCD LIABILITIES.
OUTSTANDING AMOUNT OF U.S. DOLLAR-DENOMINATED TRAVELERS CHECKS OF NONBANK ISSUEBS.
DEMAND DEPOSITS AT COMHBBCIAL BANKS AND FOBEIGN BELATED INSTITUTIONS OTHBB THAN THOSE DUE TO DOMESTIC BANKS, THE U.S. GOVERNMENT AND FOBEIGN BANKS AND OFFICIAL INSTITUTIONS LESS CASH ITEMS IN THE PBOCESS OF COLLECTION AND f.fc- FLOAT. EXCLODES THE
ESTIMATED AMOUNT OF DEMAND DEPOSITS HELD AT COMMERCIAL BANKS BY THRIFT INSTITUTIONS TO SERVICE THEIR OCD LIABILITIES.
INCLUDES ATS AND NOW BALANCES AT ALL INSTITUTIONS, CREDIT UNION SHABE DRAFT BALANCES AND DEMAND DEPOSITS AT THRIFT INSTITUTIONS. OTHER CHECKABLE DEPOSITS SEASONALLY ADJUSTED EQUALS DEMAND DEPOSITS PLUS OCD SEASONALLY ADJUSTED L&SS DEMAND DEPOSITS
SEASONALLY ADJUSTED.
INCLUDES OVERNIGHT AND CONTINUING CONTRACT BPS ISSUED BY COMMERCIAL BANKS TO OTHER THAI DEPOSITORY INSTITUTIONS AND MONEY
MARKET MUTUAL FUNDS (GENERAL PURPOSE AND BROKER/DEALER).
ISSUED BY CARIBBEAN BRANCHES OF U.S. MEMBER BANKS TO U.S. RESIDENTS OTHER THAN DBPOSI1OBY INSTITUTIONS AND MOUSY MAB 1ST MOT0AX
FUNDS.
SMALL DENOMINATION TIME DEPOSITS — INCLUDING RETAIL RPS — ARE THOSE ISSUED IN AMOUNTS OF LESS THAN $100,000.

H.6 (508)
Table 3—continued

COMPONENTS OF MONEY STOCK MEASURES AND LIQUID ASSETS
Billions of dollars, seasonally adiusted unless otherwise noted
Large denomination time deposits l
Date
at commercial
at thrift
banks2
total
institutions

at commercial
banks
NSA

Term RPs3
at thrift
institutions
NSA

total
NSA

Term
Eurodollars
(net)4
NSA

Savings
bonds

Short-term
Treasury
securities^

Bankers
acceptances^

Commercial
paper?

247.9
257.9

27.8
28.1
29.5

7.7
7.9
8.3

35.5
36.0
37.7

45.2
46.3
48.4

72.8
72.6
72.3

149.3
152.3
156.7

30.5
31.0
31.8

97.3
97.8
96.2

47.0

267.5
271.7
269.8

30.9
30.2
28.1

8.3
7.9
8.0

39.2
38.1
36.1

50.2
52.2
52.2

71.7
71.0
70.6

161.1
163.6
161.9

32.4
32.6
33.3

9J.7
97.0
96.1

229.3
236.2

47.4
49.1
49-4

267.6
278.4
285.6

28.2
29. 1
30.0

8.5
8.6
8.8

36.7
37.7
38.8

52.6
57.0
57.9

70.3
70.0
69.7

157.6
15a. 2
160.3

34.6
35.6
36.4

94.2
97.2
100.3

JULY
AUG.
SEPT.

243.1
248.6
249.9

50.0
51.3
52.5

293.1
299.9
302.3

28.4
25.8
26.2

8.8
7.5
7.6

37.2
33.4
33.6

58.7
61.0
61.2

69.4
68.9
68.4

161.8
164.1
168.1

37.2
37.4
37.6

100.9
102.5
103.9

OCT.
NOV.
DEC.

249.0
246.9
246.1

53.3
53.7
54.4

302.2
300.6
300.5

25.6
27.8
26.8

7.8
7.8
8.3

33.4
35.6
35.1

43.0
43.9
45.3

1980-OC1.
NOV.
DEC.

198.1
204.1

1981-JAN.
PEB.
HAH.

221.0
225.2
222.8

46.5
4b.6

APfi.
HAY
JUNE

220.2

212.7

241.0

WEEK ENDING:
1981rDEC.

2
9
16
23
30

247.2
247.8
247.7
241,3
246.9

31.8
27.6
25.4
25.0
28.0

1 9 8 2 - JAN.

6
13
20 P
27 P

250.3
248.9
248.5
252.1

25.6
23.9
23.2
23.8

1/
2/
3/
4/
5/
6/
7/




LARGE DENOMINATION TIME DEPOSITS AflE THOSE ISSUED IN AMOUNTS OF $10t>,000 OB MOBE, EXCLUDING 'J.HOSE BOOKED AT INTERNATIONAL
BANKING FACILITIES (IBFS).
LARGE DENOMINATION TIME DEPOSITS AT COMMERCIAL BANKS LESS LARGE TIME HELD BY MONEY MARKET MUTOAi FUNDS AND THRIFT INSTITUTIONS.
TERM EPS ARE THOSE WITH ORIGINAL MATURITY GREATER THAN ONE DAY, EXCLUDING CONTINUING CONTRACTS AMD BETAXL RPS.
TERM EURODOLLARS ARE THOSE HITH ORIGINAL MATURITY GREATER THAN ONE DAY NET OP 1EBH EURODOLLARS HELD BY U.S. RESIDENTS OTHER
THAN DEPOSITORY INSTITUTIONS AND MONEY MARKET MUTUAL FUNDS.
INCLUDES U.S. TREASURY BILLS AND COUPONS HITH REMAINING MATURITY OF LESS THAN 18 MONTHS HELD BY O1HEB THAU DEPOSITORY INSTITUTIONS, F.R. BANKS, AND MONEY MARKET MUTUAL FUNDS.
NET OF BANKERS ACCEPTANCES HELD BY ACCEPTING BANKS, F.R. BANKS, FOREIGN OFFICIAL INSTITUTIONS, THE FEDERAL HOME LOAM BAMK
SYSTEM, AND MONEY MARKET MUTUAL FUNDS.
TO1AL COMMERCIAL PAPER LESS COMMERCIAL PAPER HELD BY MONEY MARKET MUTUAL FUNDS.

H.6 (508)
Table 3A

COMPONENTS OF MONEY STOCK MEASURES AND LIQUID ASSETS
Other checkable deposit*

Demand deposits
Date

Currency1

Travelers
checks2

at member
banks3

at domestic
nonmember
banks4

at foreignrelated
banking
offices
in the U.S.5

total

at
commercial
banks6

at thrift
institutions7

.

total

Overnight
RPs(nat)P

Overnight
Eurodollars*

1980-OC1.
NOV.
DEC.

114.8
116.7
118.3

4. 1
3.9
3.9

171.2
171.8
173.6

91.5
92.8
93.0

10.1
8.7
8.7

272.7
273.2
275.1

19.6
20.5
20.9

6.0
6.4
6.3

25.6
26.9
27.2

29.6
30.1
30.5

4.4
<U7
4.5

lyei-JAN.
FEB.
MAR.

115.6
115.7
116.7

4.0
4.0
4.0

162.7
147.6
146.8

87.8
82.5
82. 1

8.5
8.5
9.2

258.8
238.5
237.9

35.7
43.0
48.0

8.0
9.0
10.0

43. 6
52.0
58.1

30.6
30.4
31.9

5.2
4.9
4.6

APB.
HAY
JUNE

118.3
119.2
119.7

4.0
4.1
4.3

152.9
144.6
145.8

85.8
82.8
82.7

8.4
8.7
8.8

246.8
235.9
237.0

54.9
52.5
54.3

11.9
11.6
12.2

66.8
64.1
66.4

31.8
34.5
36.5

5.0
6.4

JULY
AUG.
SEPT.

121.3
121.3
120.8

4.7
4.7

4.5

147.6
145.4
145.6

82.1
81.0
81.1

8.1
8.5
8.2

237.6
234.7
234.6

55.7
56.5
58.1

12.8
13.0
13.6

68.5
69.5

71.7

35.4
35.3
32.7

7.8
6.9

OCI.
MOV.
DEC.

121.2
122.9
125.4

4.3
4.1
4.1

151.9
152.4
156.8

80.8
81.4
82.6

4.2
4.0
4.1

236.6
237.5
243.3

58.5
60.6
63.3

13.9
14.6
15.1

72.41
75.2
78.4

30.2
30.4
31.1

5.9
6.5
6.7

6.9

WEEK ENDING:

9
16
23
30

1981-DEC.

1982-JAN.

1/
2/
3/
4/
5/
b/
7/
6/
a/
10/




123.0
125.2
124.9
126.2
125.9

156.1
155.2
156.4
156.8
157.0

80.9
82.9
82.9
82.3
81.7

4.2
4.1
3.9
4.2
4.4

240.9
241.8
242.9
243.0
242.8

61.1
63.6
63.3
63.4
63.0

14.7
15.4
14.9
14.8
14.9

75.8
79.0
78.3
78.2
77.9

26.4
32.1
33.7
32.2
27.4

6.6
6.0
6.3
7.0
7.4

6
13
20 P
27 P

125.3
123.8
122.9
121.8

170.1
162.2
155.9
148.9

87.4
84.7
82.8
77.8

4.2
3.7
3.6
3.9

261.3
250.1
242.0
230.3

66.7
68.5
68.0
65.3

15.8
16.0
15.7
15.2

82.5
84.5
83.7
80.5

32.6
34.8
35.0
36.5

7.5
7.5
7.1
7.9

2

CURRENCY OUTSIDE THE U.S. TREASURY, F.R. BANKS AND THE VAULTS OF COMMERCIAL BANKS. EXCLUDES THE ESTIMATED AHOUMT OF VAULT
CASH HELD BY THBIFT INSTITUTIONS TO SEBVICE THEIR OCD LIABILITIES.
OUTSTANDING AMOUNT OF U.S. DOLLAR-DENOMINATED TRAVELERS CHECKS OF NONBANK ISSUIBS.
DEMAND DEPOSITS OTHER THAN THOSE DUE TO DOMESTIC BANKS, THE U.S. GOVERNMENT AND FOREIGN BANKS AND OFFICIAL INSTITUTIONS LESS
CASH ITEMS IN 1HE PROCESS OF COLLECTION AND F.R. FLOAT AT MEMBER BANKS OF THE FEDERAL RESERVE SYSTEM.
DEMAND DEPOSITS OTHER THAN THOSE DUE TO DOMESTIC BANKS, THE U.S. GOVERNMENT AND FOREIGN BANKS AND OFFICIAL INSTITUTIONS LMSS
CASH ITEMS IN THE PROCESS OF COLLECTION AT NONNENBER BANKS.
DEPOSITS AS DESCRIBED IN FOOTNOTE 4 AT AGENCIES AND BRANCHES OF FOREIGN BANKS, SDGE ACT CORPORATIONS AND FOREIGN INVESTMENT
COMPANIES,
EQUALS SUM OF THEEE PREVIOUS COMPONENTS LESS 1HE ESTIMATED AMOUNT OF DEMAND DEPOSITS HELD AT COMMERCIAL BANKS BY THBIFT
INSTITUTIONS TO SfcRVICE THEIR OCD LIABILITIES.
NOb AND A1S BALANCES AT COMMERCIAL BANKS.
NOW AND ATS BALANCES AT SAVINGS AND LOAN ASSOCIATIONS AND MUTUAL SAVINGS BANKS, CREDIT UNION SHARE DRAFT BALANCES, AND
DEMAND DEPOSITS Al 1HRIF1S.
INCLUDES OVERNIGHT AND CONTINUING CONTRACT RPS ISSUED BY COMMERCIAL BANKS TO OTHER THAN DEPOSITORY INSTITUTIONS AMD BONBY
MA£KE1 MUTUAL FUNDS (GENERAL PURPOSE AND BROKER/DEALEH).
ISSUED BY CARIBBEAN BRANCHES OF U.S. MEMBER BANKS TO U.S. RESIDENTS OTHER THAN DEPOSITORY INSTITUTIONS AND MO1BY MARKET
MUTUAL FUNDS (GENERAL PURPOSE AND BROKER/DEALER).

H.6 (508)
Table 3A-continued
COMPONENTS OF MONEY STOCK MEASURES AND LIQUID ASSETS
Billions OT aonars, not season ail aajusieu

Savings deposits
at mutual
at
savings banks
credit unions

Smalt denomination time depot**?
at mutual
at
savings banks
credit unions
10.9
342.7
87.2
7.8
341.0
88.4
8.2
347.2
90.3

at commercial
banks

at savings
and loans

1980-OC1.
NOV.
DEC.

192.2
190.7
183.7

122.7

115.8
111.0

57.8
56.4
54.6

45.7
20.7
20.3

418.4
412.4
398.0

at commercial
banks
277.2
282.7
290.7

1981-JAN.
FEB.
MAfi.

176.3
171.9
171.3

105.2
103.3
103.2

52.9
51.8
51.8

19.9
19.7
20.1

382.2
374.2
373-9

301.8
30tt.4
312.6

356.2
356.9
360.2

APE.
HAY
JUNE

172.3
169.4
166.9

103.8
101.5
99-7

52.1
51.0
50.4

20.5
20.4
20.5

376.4
369.9
365.0

313.4
318.1
323.7

JULY
AUG.
SEPT.

166.5
162.4
159.0

100.0
96.9
94.9

*9.5
47.6
4 8 . vi

20.8
20.7
20.8

364.2
353.6
347.9

OCT.
NOV.
DEC.

157.3
156.9
157.2

93.7
93.1
93.3

47.6
47.2
47.4

20.8
21.0
21.5

343.9
342.2
342.9

Data

total

at savings
and loans

94.3

77Z.7
763.5
790.2

359.1
359.8
361.5

94.1
94-5
95.4

9.5
9.7
9*9

790.0
796.9
806.4

325.9
333.2
338.6

360.1
361.0
362.1

92.7
91.9
95.8

10.0
10.5
10.9

606.9
818.4
632.1

346.9
350.5
351.1

367.1
367.8
366.9

97.4
97.6
97.6

11.6
12.0
12.0

847.6
651.9
651.6

1981-DSC.

2
9
16
23
30

156.8
157.6
157.4
156.8
156.9

350.6
351.1
351.3
351.2
J50.9

1982-JAN.

6
13
20 P
27 P

158.8
159.4
158.7
158.0

351.8
353.2
354.6
355.8




SHALL DENOMINATION TIME DEPOSITS ~

719.2
732.1
748.9

8.8
9.3
$.3

92.9

UESK ENDING:

1/

total

INCLUDING fiEXAIL RPS — AB1 IBOSS ISSUED IN AftOUJTS OF LESS f l A I * 1 0 0 , 6 6 4 .

H.6 (508)
Table 3A-continued

COMPONENTS OF MONEY STOCK MEASURES AND LIQUID ASSETS
Billions of dollars, not seasonally adjusted
Date

Large denomination time deposits1
at
at mutual
commercial at savings
total
savings
bank$2
and loans
banks

Term RPt3

at
commercial
banks

at thrift
institutions

total

Term
Eurodollars
<net)4

Savings
bonds

Short-ttcm < Bankers Commercial
McranfruL—6
Treasury
PW
securities^

1980-OCl.
NOV.
DEC.

195.9

38.1

4.7

205.4
217.4

38.6
39.6

4.8
4.9

239.2
249.1
262.3

27.8
28.1
29.5

7.7
7.9
8.3

35.5
36.0
37.7

45.2
46.3
48.4

73.0
72.9
72,7

149.3
155.3

30.8
31.3
31.4

96.6
96-7
98.5

1981-JAN.
FEB.
MAR.

225-3
229-9
227.1

40.9
41.2
41.1

5.0
5.1
5.1

271.7
276.9
273.9

30.9
30.2
28.1

8.3
7.9
8.0

39.2
38.1
36.1

50.2
52.2
52.2

7K9
71.1
70.6

161.7
167.5
165.1

32.1
33.3
33.9

98.3
98.3
96.0

APR.
HAY
JUNE

221.4
228.3
232.5

40.9
43.0
43.1

5.3
5.5
5.6

268.1
277.3
281.7

28.2
29.1
30.0

8.5
8.6
8.8

36.7
37.7
38.8

52.6
57,0
57.S

70.1
69.7
69.4

15S.6
160.6
161*3

34.7
35.4
36.2

94.4
97.8
100.7

JULY
AUG.
SEPI.

236.6
243.3
246.3

43.9
45.2
46.1

5.5
5.7
6.2

266.6
294.8
299,1

28.4
25.8
26.2

8.8
7.5
7.6

37.2
33.4
33.8

58.7
61.0
61.3

69.1
68.8
68.5

159.1
161.5
166.6

36.5
36.6
37.4

100.3
100.7
102.3

oca.

246.2
248.1
251.4

46.8
47.1
47.6

6.3
6.2
6.0

299.8
301.8
. 305.6

25.6
27.8
26.8

7.8
7.8
8.3

33.4
35.6
35.1

61.6
-20.2
•20,9

68.1
68.0
34.0

173.2
176.1
67.7

37.7
38.0
11.6

103.7
104.5
0.0

NOV.
DEC.

147.1

WEEK ENDING:
1981->DEC.

2
9
16
23
30

251-1
250.8
251.6
247.5
255.2

31.8
27.6
25.4
25.0
28.0

1982-JAM.

6
13
20 P
27 P

254.9
253.4
252.5
257.3

25-6
23-9
23.2
23.8

1/
2/
3/
4/
5/
6/
7/

LABGE DENOMINATION TINE DEPOSITS ABE THOSE ISSUED IN AMOUNTS OF $100,000 OB NOBB, EXCLUDING THOSE BOOKED Al INTEfiNAlIOMAX
BANKING FACILITIES (IBFS) .
LARGE DENOMINATION 1IME DEPOSITS AT COMMERCIAL BANKS LESS LARGE TIME HELD BY MONEY MABKET MUTUAL fUMDS AND THRIFT
INSTITUTIONS.
TERM RPS ARE THOSE WITH ORIGINAL MATURITY GREATER THAN ONE DAY, EXCLUDING CONTINUING CONTRACTS AND RETAIL BPS.
TERM EURODOLLARS ARE THOSE WITH ORIGINAL MATURITY GBtalER THAN ONE DAY NET Of TE8,M EURODOLLARS HELD BY U.S. RESIDENTS OTHER
THAN DEPOSITORY INSTITUTIONS AND HONEY MARKET MUTUAL FUNDS.
INCLUDES U.S. TREASURY BILLS AND COUPONS WI1H REMAINING MATURITY OF LESS THAN 18 MONTHS HELD BY OTHER THAN DEPOSITORY INSTITUTIONS, F.fc. BANKS, AND MONEY MARKET MUTUAL FUNDS.
NET OF BANKERS ACCEPTANCES HELD BY ACCEPTING BANKS, F.R. BANKS, FO&EIGN OFFICIAL INS1ISU1ICN6, THE FEDEBAL HOMB LOAN BANK
SYS1EM, AND MONEY MARKET MUTUAL FUNDS.
TOTAL COMMERCIAL PAPER LESS COMMERCIAL PAPER HELD BY MONEY MARKET MUTUAL FUNDS.




H.6 (508)
Table 4

MEMORANDA ITEMS
Billions of dollars, not seasonally adjusted
Demand deposits at banks due to
Date

foreign commercial
banks

foreign official
institutions

Time and savings
deposits due to
foreign commercial
banks and foreign
official institutions

demand deposits at
Federal Reserve
commercial banks
Banks

U.S. government deposits
note balances at
commercial
banks and thrift
institutions

total demand
deposits and
note balances

time and
savings deposits at
commercial banks

1980-OC1.
NOV.
DEC.

11.9
12.6
12.8

3.0
3.4
3.7

11.8
11.8
12.0

2.8
2.5
2.8

3.2
3.0
2.7

9.7
4.1
6.3

15.8
9.6
11.7

0.6
0.8
0.8

1981-JAN.
FEB.
MAB.

12.0
12.8
11.9

3.4
3.3
3.0

11.8
11.6
11.3

2.9
2.9
2.9

3.2
3.3
3.0

5.1
5.4
7.5

11.2
11,6
13.4

0.8
0.8
0.8

APR.
MAY
JUNE

12.2
12.2
12.9

3.3
2.8
3-0

10.9
10.9
10.6

3.9
3.0
3.5

3,4
3.3
3.0

8.3
9.5
9.1

15.6
15.8
15.5

0.8
0.8
0.8

JULY
AUG.
SEPT.

12.6
12.9
13.5

2.8
2.8
3.0

9.8
9.4
9.4

2.9
2.8
3.5

3. 1
3.2
3.2

7.9
4.8
7.8

13.9
10.8
14.4

0.8
0,7
0.7

OCT.
NOV.
DEC.

12.8
12.6
12.9

2.2
2.4
2.6

9.2
9.0
9.1

2.7
2.8
3.1

3.3
3. 1
2.9

10.9
7.0
8.1

16. 9
12.9
14.1

0.7
0.7
0.7

WEEK ENDING:
1981-DEC.

2
9
16
23
30

13.8
12.7
13.1
13.0
12.7

2.2
2.8
2.5
2.4
2.5

9.0
8.9
9.1
9.1
9.2

2.6
2.5
3.9
3.3
2.8

3,0
2.7
2.8
3.2
2.9

6.1
3.6
3.6
11.9
13.8

11.8
8.8
10.2
18.4
19.5

0.7
0.7
0.7
0.7
0-7

1982-JAN.

6
13
20 P
27 P

12.1
11.7
12.1
11.7

2.5
2.6
2.6
2.2

9.0
8.9
8.8
8.7

3.0
2.4
3.8
2.9

3.7
3.1
3.7
6.1

8.0
6.7
12.1
16.2

14.8
12.1
19.7
25.2

0.7
0.7
0.7
0.7





Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, St. Louis, MO 63102