Full text of H.6 Money Stock Measures : January 26, 1978

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FEDERAL

RESERVE

FEDERAL RESERVE Statistical Release H.6

statistical

r e l e as e

Table 1

For Immediate Release

MONEY STOCK MEASURES

JAN. 26t 1978

IN BILLIONS OF DOLLARS

MX
Date

M2

M4

*3

MS

MI PI us Time
M 2 Plus
M 2 Plus
M 3 Plus
Currency Deposits at Deposits at
Large
Large
Commercial Nonbank
Pius
Negotiable Negotiable
Banks
Demand
Thrift
Deposits^ Other Than Institutions^/
CD's*/
CD's*/
Large CD's 2/

"i

MI Plus Time
Currency Deposits at
Commercial
Plus
Banks
Demand
Depositsl/ Other Than
Large CD's.2/

740.3

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

746.3
750.7
756.1
764.6
767.6
772.8
783.5
787.7
792.9
799.6
802.7
806.5

23
30

331.5
333.2

801.8
803.8

7
14
21
28

33^.9
333.9
335.4
335.7
r 340.2
336.6
337.4

1977— JAN.
FEB.
WAR.
APR.

HAY
JUNE
JULY
AUG.

SEPT.
OCT.
NOV.
DEC.

M4

*3
M 2 Plus
M 2 Plus
Deposits at
Large
Nonbank
Negotiable
Thrift
CD's4/
Institutions*

*5

M 3 Plus
Large
Negotiable
CD's-5/

Not Seasonally Adjusted

Seasonally Adjusted
312.4

1976—DEC.

M2

803.5

1300.3

809.3
814.0
818.2
826.2
829.9
836.8
646.3
850.9
856.2
865.9
873.5
881.2

1312.0
1321.5
1330.3
1342.8
1351.3
1363.5
1379.8
1392.7
1406.3
1423.5
1436.5
1448.7

321.3

745.3

1237.9

809.5

1302.1

319.7
309.9
312.4
322.3
315.5
321.4
327.2
325.2
328.2
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
r 1374.2

814.3
808.5
817.0
830.1
827.4
837.5
846.8
848.0
854.3
864.7
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
1450.1

873.6
876.3

332.5
334.4

797.9
799.6

870.3
872.9

806.1
805.1
805.8
806.9

879.0
879.1
881.0
882.9

341.5
343.1
345.3
345.2

807.4
809.5
811.2
812.5

881.4
884.8
887.7
889.9

r 813.1
810.6
812.0

r 889.8
r 886.7
887.7

r 357.9
r 349.5
346.0

r 828.4
821.8
819.3

r 905.8
898.3
895.3

1237.1
1248.9
1258.2
1268.1
1281.2
1289.0
1299.5
1316.9
1329.5
1343.1
1357.1
1365.6
r 1374.0

WEEK ENDING:
19f7-NQV.

DEC.

1978* JAN.

4
11 P
18 P

.„_,„,
I/ INCLUDES (11 DEMAND DEPOSITS AT ALL COMMERCIAL BANKS OTHER Tt•IAN THOSE DUE TO DOMESTIC COMMERC [AL BANKS AND THE U.S.GOVERNMENTt

2/
3/
4/
5/

LESS CASH ITEMS IN THE PROCESS OF COLLECTION AND F.R.FLOAT; (2) FOREIGN DEMAND BALANCES AT F.R.BANKS; AND (31 CURRENCY OUTSIDE
THE TREASURY, F.R.BANKS AND VAULTSl OF ALL COMMERCIAL BANKS.
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 MEEKLY REPORTING COMMERCIAL BANKS.
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.
INCLUDES M2* PLUS NEGOTIABLE TIME CERTIFICATES OF DEPOSIT ISSUED IN DENOMINATIONS OF $100*000 OR MORE.
INCLUDES M3* PLUS NEGOTIABLE TIME CERTIFICATES OF DEPOSIT ISSUED IN DENOMINATIONS OF $100*000 OR MORE.

p - PRELIMINARY; R - REVISED




FEDERAL RESERVE Statistical Release H.6
Table 2

MONEY STOCK MEASURES
I PER CENT CHANGE AT SEASONALLY ADJUSTED A N N U A L RATES
M

MM

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

DATE

C.

l

M3
M2 Plus Deposits
at Nonbank Thrift
Institutions^/

M4

M2 Plus Large
Negotiable CD's 5 '

«5
Ma Plus Large
Negotiable CD's" 7

FROM!

PT. 1977

13 MONTHS PREVIOUS)

6.1

6.9

NE

1977

(6 MONTHS PREVIOUS)

8.4

8.7

11.5

C.

1976

(12 MONTHS PREVIOUS)

7.4

8.9

11.1

JR WEEKS ENDINGS JAN.
18*
ROM FOUR WEEKS ENDING:

9.2

11.7

12.1

10.6

12.5

9.7

11.4

1978

T.

19 9 1977(13 WEEKS PREVIOUS)

5.5

6.5

11.1

LY

20, 1977(26 WEEKS PREVIOUS)

7.4

7.8

10.2

N.

19 * 1977(52 WEEKS PREVIOUS)

7.3

8.7

9.6

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 TEASURYt 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 $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, AND
CREDIT UNION SHARES.
4/ 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 A V E R A G E DATA; RATES OF CHANGE ARE NOT COMPOUNDED.




FEDERAL RESERVE Statistical Release H.6

Table3

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

Time and Savings Deposits
Date

Currency

Demand Deposits
CD's^

Other

Total

1976 —DEC.

80.5

231.9

63.3

427.9

491.1

1977 — JAN.
FEB.
NAR.
APR.

81.1
81.8
82.2
83.1
83.6
84.0
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
450.9
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

23
30

87.7
88.1

243.8
245.1

71.8
72.5

470.3
470.7

542.2
543.2

7
14
21
28

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

4
11 P
18 P

88.7
88.7
89.1

r 472.9
474.0
474.7

r 549.6
550.1
550.3

HAY
JUNE
JULY

AUG.
SEPT.
OCT.
NOV.
DEC.

Nonbank
Thrift Institutions2'

496.8
502.6
507.5
512.1
516.6
521.4
526.7
533.5
541.7
550.2
557.5
563.0
r 567.5

rfEEK ENDING:

1977-NOV.

DEC.

19 78 -JAN.

r

251.5
247.9
248.2

r

76.6
76.1
75.6

I/ INCLUDES NEGOTIABLE TIME CERTIFICATES OF DEPOSIT ISSUED IN DENOMINATIONS OF $100,000 OR M O R E BY L A R G E W E E K L Y 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

Currency
Total^

Member

Time and Savings Deposit

Domestic
Nonmember2f

CD's^

Other

Total

Nonbank
Thrift
Institutions4/

U.S. Gov't.

Dem and £/

1976— DEC.

82.0

239*3

168.5

67.3

64.3

423.9

468.2

492.6

4.7

1977 — JAN.
FEB.
MAR.
APR.

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
242.1
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
66.3
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
r 562.5

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

88.5
88.2

244.1
246.2

167.8
170.2

72.1
71.7

72.5
73.3

465.3
465.2

537.8
538.5

4.6
4.1

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
75.8

77.3
76.6
75.9

547.9
548.8
549.2

7.0
4.4
4.4

HAY

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

WEEK ENDING:
1977-NOV.

23
30

DEC.

7
14
21
28

1978-JAN.

4
11 P
18 P

r

89.5
89.5
88.7

r
r

268.5
260.1
257.3

r
r

186.8
178.5
176.9

r

r

470.5
472.3
473*3

r

I/ TOtAL DEPOSITS INCLUDEt IN ADDITION TO THE MEMBER AND DOMESTIC NDNMEM BER DEPOSIT!> SHOWN t DEPOSITS DUE 10 FOREIGN A ND
INTERNATIONAL INSTITUTIONS AT F.R.BANKS AND Ml TYPE B A L A N C E S 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