Full text of H.6 Money Stock Measures : January 25, 1979

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•Xifijoi*;

statistical

release

For Immediate

Tabtoi

FEOEKAL

MONEY STOCK MEASURES
IN MLUONS OF DOLLARS
M-1

Currency
Plus
Demand
Deposits y

Date

M-1 +
M-1 PkJ6
Savings
Deposits at
CB's and
Checkable
Deposits at
Thrift Mt.2/

M-2

M-3

M-1 Plus
M-2 Plus
Time
Deposits at
Nonbank
Commercial
Banks Other
Thrift
Than Large Institutions^/
CD's 2/

M-4

M-2 Plus
Large
Negotiable
CD's 5/

M-5

M-3 Plus
Large
Negotiable
CD's*/

JAN. 25,
M-1

M-1 +

Currency
Plus
Demand
Deposits^

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

WEEK

,

338.5
341.7
341.8
342.9
348.5
350.6
352.8
354.2
356.7
360.9
362.0
360.6
361.1

560.2
564.6
565.0
566.2
572.6
575.2
577.1
577.8
582.0
587.9
588.8
585.3
r584.2

809.5
815.9
819.1
822.6
830.3
835.2
8 40.6
846.2
853.5
862.4
867.4
870.5
872.0

1376.1
1386.6
1393.1
1400.3
1411.4
1419.9
1429.8
1441.0
1455.1
1472.1
1483.9
1492.1
r 1498.6

M-3

M-4

M-2 Plus
Large
Negotiable
CD's &

M-5

M-3 Plus
Large
Negotiable
CD's*/

Not Seasonally Actuated

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

M-2

M-1 Plus
M-2 Plus
Time
Deposits at Deposits at
Nonbank
Commercial
Thrift
Banks Other
Than Large Institutions^/
CD's .3/

1979

383.5
892.2
898.5
904.7
913.7
922.2
927.3
933.6
939.8
950.5
955.6
965.9
Q68.Q

1450.1
1462.9
1472.5
1482.3
1494.9
1506.9
1516.5
1528.4
1541.4
1560.2
1572.1
1587.5
r 1595.5

348.2
347.5
33 5.9
338.2
?50.9
34^.3
351.7
356.0
?54.2
358.8
?61.3
362.8
r 371.5

568.1
569.4
558.3
562.7
577.3
571.7
578.1
581 .9
579.2
583.7
586.2
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
«77.6

1377.5
1389-0
1386.0
1400.2
1421.2
1420.3
1435.2
1447.9
1453.0
1466.4
1478.5
1484.2
r 1499.5

890.9
897. 0
890.8
9 01.4
917.O
918.2
928v^
936. n
93«;a
948.7
955.3
963.9 r
977.1 r

1453.4
1465.4
1462.9
1480,5
150?.6

I5o c ;.o

1521.5
1535.3
1541.0
1556.7
1569.3
15 80.6
1599.0

ENDING:

1978-NOV.

22
29

359.3
358.6

583.7
582.5

870.1
869.2

966.4
965.5

360.1
359.2

582.8
581.5

865.6
864.3

962. 8
962.0

OF.C •

6
13
20
27

360.7
360.9
361.2
360.6

584.4
584.5
584.1
583.4

871. a
871.8
871.6
871.1

968.1
968.9
969.2
967. P

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 36?.4
359.8
360.9

r 585.1
582.1
582.1

r 873.8
870.6
871.9

r 971.0
969.6
Q7?.8

r 383.0
373.4
370.0

r 6 04.3
595.0
590.4

891.6
882.1
87Q.4

991.5
982.7
980.4

1O79-JAN.

30
1QO
17P

1/ INCLUDES (1) DEMAND DEPOSITS AT ALL COMMERCIAL BANKS OTHER THAN THOSE OU^ TO DOMFSTIC COMMERCIAL BANKS AND THE U.S.GOVEKNMFNT,
LESS CASH ITEMS IN THE PROCESS OF COLLECTION AMD F.R.FLOAT; (2) FOREIGN DEMAND BALANCES AT F.p.RANKS; 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 DEMAND n^PpSITS AT MUTUAL SAVINGS BANKS.
?/ TNCLUOES, IN ADDITION! TO CURRENCY AMD DEMAND DF°OSITS, SAVINGS DEPOSITS, TTME DEPOSITS OPEN ACCOUNT, AND TIME CERTIFICATES 0 p
DE°nSITS OTHER THAN MFGOTIABLF TIMF CERTIFICATES OF DEPOSIT ISSJED IN OENHMINATlpNjs OF $1^0,000 OR MORF. BY LARGE WEEKLY REPORTING COMMERfIAL BANKS.
4/ INCLUDES M 2 , PLUS THF AVERAGF QF THE BEGINNING AND FMD 0 c MONTH DEPOSITS HF MUTUAL SAVINGS BANK, SAVINGS AND LOAN SHARES, AND
CREDIT UNION SHARES.
5/ INCLUDES M2, PLUS NEGOTIABLE TIME CERTIFICATES OF DEPOSIT ISSUED IN DENOMINATIONS OF $100,000 OR MORE.
6/ INCLUDES M3, PLUS NEGOTIABLE TIMF CERTIFICATES OF DEPOSIT ISSUED IN DENOMINATIONS OF $100,000 OR MORE.
P - PRELIMINARY; R -




FEDERAL RESERVE Statistical Rttoas* H.6

MONEY STOCK MEASURES
PERCENT CHANGE AT SEASONALLY ADJUSTED ANNUAL RATES

Date

DFC.

C

M-1

M-1+

M-2

M-3

M-4

M-5

Currency
Plus
Demand
Deposits^

M-1 Plus Savings
Deposits at CB's
and Checkable
Deposits at
Thrift Inst. 2/

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

M-2 Plus Deposits
at Nonbank Thrift
Institutions l/'

M-2 Plus Large
Negotiable CD's y

M-3 Plus Large
Negotiable CD's §/

ROM:

SE^T.

1978

n

MONTHS PREVIOUS)

0.?

-2.5

4.S

7.7

7.7

9.1

JUNE

1978

(6 MONTHS PREVIOUS)

4.7

2.5

7.5

9.6

9.0

10.4

DEC.

1977

(12 MONTHS PREVIOUS)

6.7

4.3

7.7

8.9

9.7

10.0

FOUR WEEKS ENDING: JAN.
17,
FDOM FOUR WEEKS ENDING:
OCT.

1979

1 8 , 1 9 7 8 ( 1 3 WEEKS PRFVIOUS)

-2.0

-4.5

2.4

6.9

JULY

19 T

1 9 7 8 ( 2 6 WEEKS PREVIOUS)

4.0

l.o

6.6

8.4

JAN.

1 8 , 1 9 7 3 ( 5 2 WEEKS PREVIOUS)

6.0

3.6

7.2

9.1

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.*.FLOAT; (2) FOREIGN DEMAND BALANCES AT F.R.BANKS; AND (3) CURRENCY OUTSIDE
THE TREASURY, F.P.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 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 ISSJED 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 BANKS, SAVINGS AMD LOAN SHARES, AND
CREDIT UNION SHARES.
5/ INCLUDES M2, PLUS NEGOTIABLE TIME CERTIFICATES OF DEPOSIT ISSUED IN DENOMINATIONS OF $100,000 OR MORE.
6/ INCLUDES-M3, PLUS NEGOTIABLE TIME CERTIFICATES OF DE°OSIT ISSJED IN DENOMINATIONS OF $100,000 OR MORE.
NOTE:
ALL RATES OF CHANGE ARE BASED ON DAILY AVERAGE DATA; RATES OF CHANGE ARE NOT COMPOUNDED.




FEDERAL RESERVE Statistical Ratoasa H.t

Table 3

COMPONENTS OF MONEY STOCK MEASURES AND RELATED ITEMS
SEASONALLY ADJUSTED,IN BILLIONS OF DOLLARS
Time and Savings Deposits^
Date

Currency

Demand
Deposits

Time Deposits

Savings 3/

CD-a^

Other

Tntal

1 \JltM

Nonbank
Thrift
Institutions 4/

1977 —DEC

88.6

249.9

74.0

251.5

219.6

545.0

566.6

1978—JAN..

89.4
90. 1
90.7
91.2
92.1
92.8
93.3
94.0
95.2
96.0
96.7
97.5

252.2
251.7
252.3
257.3
258.5
259.9
260.9
262.8
265.7
266.1
263.9
263.6

76.3
79.4
82.0
83.4
87.1
86.7
87.4
86.3
8B . 1
88.2
95.4
97.0

253.6
256.4
258.7
260.1
26?.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
221.9
220.2

550.6
556.7
561.7
565.2
571.6
574.5
579.4
5B3.0
589.7
593.6
605.3
607.8

570.7
574.0
577.7
581.2
584.7
589.2
594.7
601.6
609.6
616.5
r 621.7
r 626.6

96.9
97.0

262.4
261.7

96.3
96.4

289.3
289.5

221.5
221.0

607.0
606.9

F f: B v
MAR.
APR.
MAY
JUNE
JULY
AUG.
SEPT.
OCT.
NOV.
DEC. P

WEEK

ENDING:

1978-NHV.

22
29

DEC.

IQ7Q-JAN.

6
13
20
27

Q

97.2
7. 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

3P
10 P
17 P

98.1
98.2
9P.1

264.3
261.6
262.8

97.2
99.0
100.9

291.5
291.4
29?.6

219.8
219.5
218.3

608.6
609.8
611.9

1/ TIME AND SAVINGS DEPOSITS AT ALL COMMERCIAL BANKS.
2/ INCLUDES NEGOTIABLE TIME CERTIFICATES OF DEPOSIT ISSUED IN DENOMINATIONS OF tl00 f 000 OR MORE BY LARGE WEEKLY REPORTING COMMERCIAL BANKS.
3/ INCLUDES NHW ACCOUNTS AT COMMERCIAL BANKS.
4/ AVERAGE OF BEGINNING AND END OF MONTH DEPOSITS AT MU T UAL SAVINGS BANKS, SAVINGS AND LOAN SHAPES, 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

17

Member

Total^

Domestic
Nonmember

Total

Other
Checkable
Deposits^/

Time Deposits
Savings^/
CP's^

Other

Nonbank
Thrift
Institution at//

U.S.
Qov't.
Demand^

1977 —OEC.

90.1

753.1

177.5

76.2

75.9

249.0

217.7

542.6

2.1

562.5

5.1

197*—JAN.

38.7
S9.0
89.o
91.0
91.O
^2.9
94.1
94.3
°5.0
95.«
Q7.4

177.3
169.0
170.0
177.3
172.6
175.7
177.7
176.1
178.2
179.2
178.2
r 183.0

77.0
73.8
74.3
78.5
76.9
79.1
80.3
79.9
31.8
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
773.8
223.1
222.2
272.1
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
605.6

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
5 86.7
593.2
599.3
602. 1
608.1
614.0
616.6
r621.9

4.3
4.3

PP.?

258.8
247.0
248.?
259.9
2*3.3
258.8
262.0
259.9
263.8
26*5.6
265.5
272.3

22
?Q

97.7
97.?

262.4
261.9

175.2
175.6

83.6
82.5

97.1
97.6

285.7
285.7

219.8
219.5

602.7
602.3

10.6
10.8

6

^3.6
99.0
99.1
100.3

269.0
270.3
27?.4
270.6

180.6
181.3
183.3
181.6

*4.5
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

4. 1
12.2
15.1

98.5
98.7
97.7

284.4
274.7
272.3

r 191.6
182.6
181.9

87.8
87.7
86.4

99.9
100.6
101.0

290.2
290.0
291.8

218.5
218.8
217.5

608.6
609.3
610.4

MAP.
APR.
MAY
Jl.JNF
JULV

AUG.
SEPT.
1CT.
NOV.
TEC. P

4. 8
5.0
4.0
6.2
4.5
3.6
6.2
4.3
8.0

10.7

WEEK ENDING:
1^7R-MOV.

DEC.

13
20
27

1979-JAN.

3P
10P
17P

5.8

15.5
9.7
8.5

j
1/ T I M E AND SAVINGS DEPOSITS AT ALL COMMERCIAL BANKS.
2/ TOTAL DEMAND DEPOSITS INCLUDE, 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.
3/ BASED ON MOST RECENT CALL .PEPORT DATA.
4/ INCLUDES NEGOTIABLE TIME CERTIFICATES OF DEPOSIT ISSUED IN DENOMINATIONS OF $100,000 OR MORE BY LARGE WEEKLY REPORTING
COMMERCIAL BANKS.
5/ INCLUDES NOW ACCOUNTS AT COMMERCIAL BANKS.
6/ INCLUDES NOW ACCOUNTS AT THRIFT INSTITUTIONS, CREDIT UNION SHARE DRAFT ACCOJNTS, AND DEMAND DEPOSITS AT MUTUAL SAVINGS BANKS.
7/ AVERAGE DF 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 NOVEMBFR 2, 1978.
P - PRELIMINARY; R - REVISED




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
Banks2/3/
January

3

January 10
*
1/

2/

3/

4/

J5/




NOW Accounts in New York State

Mutual
Savings

Insured
Commercial
Banks2/3/

3760

13

630

4320^

15

695

Mutual
Savings
Banks!/*/

The survey collecting data on outstanding balances is scheduled to be
conducted weekly through March 1979.
Based on judgments of the survey respondents, it is estimated that
roughly 50 to 60 per cent of the balances in ATS accounts represented
funds which had come from demand deposit accounts; this estimate is
subject to a wide range of error.
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.