Full text of H.6 Money Stock Measures : July 7, 1966

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FE-DERAL

RESERVE

release
*£u*£^*

H.6

For immediate

release

J u l y 7 , 1966
The s e a s o n a l l y a d j u s t e d money s u p p l y i n c r e a s e d s h a r p l y on a monthly
a v e r a g e b a s i s i n J u n e w i t h u n u s u a l l y wide f l u c t u a t i o n s i n t h e second h a l f of t h e
m o n t h . W i t h t h i s i n c r e a s e , t h e money s u p p l y r e t u r n e d t o t h e a d v a n c e d A p r i l l e v e l ,
r e f l e c t i n g fit 4 - 1 / 2 p e r c e n t a n n u a l r a t e of e x p a n s i o n i n t h e f i r s t h a l f of 1966
Time d e p o s i t s a d j u s t e d i n c r e a s e d a t a r e d u c e d In J u n e ( a f t e r a l l o w a n c e for
r e c l a s s i f i c a t i o n of b e r t a i n b a l a n c e s * ) , and e x p a n s i o n i n t h e f i r s t h a l f of 1966
was a t an 8 - 1 / 2 p e r c e n t a n n u i l r a t e *
MONEY SUPPLY AM) TIME DEPOSITS
A v e r a g e s of d a i l y f i g u r e s , i n b i l l i o n s of
Seasonally adjusted

dollars

Money Supply
Period
_

T965=:=3une -•''-'-•""--—---— "~~"nsi.8
July
162.5
162.7
August
September
164.3
October
165.6
November
165.7
December
167 . 4
1966—January
February
March
April
May
June p

Week, e n d i n g :
1966—June
1
8
15 P
22 p
29 p

A v e r a g e o f l a s t weeks

168.4
168.0
169.2
171.1
169.5
171.1

]

i

1

Demand d e p o s i t
component

Currency
component
35J0
35.2

Total

35.4

35.6
35.9
36.1
36.3

1
i
!

37.4

168.9
170.5
170.6
172.8
170.8

|

37U

171.2

f

37.4

126.8
127.3
127.3
128.7
129.7
129.6
131.2
131.8
131.2
132.3
134.0
132.2
133.8

36.7
36.8
36.9
37.1
37.3

1

Time d e p o s i t s

|

37.3
37.3
37.4
371.4

1!

]
|
1

i

.

adjusted
( A l l commercial
banks )
,
135.9
137.6,
140.1
141.6
143.6
145.5
147 .0
148.0
148.8
149.6
151.6
152.9
153.3

131.6
133.2
133.1
135.5
133.5

153.6
153.8
152.8*
152.9*
153.3*

133.8

153.3*

f o r r e s e r v e p u r p o s e s and a r e e x c l u d e d from t i t t e d e p o s i t s r e p o r t e d by member banks. The
e s t i m a t e d amount o f such d e p o s i t s a t a l l commercial banks ( $ 1 , 1 4 0 m i l l i o n ) i s excluded
from t i m e d e p o s i t s a d j u s t e d b e g i n n i n g w i t h t h e week of June 1 5 .
NOTE: Components may n o t add dtie t o r o u n d i n g . See r e v e r s e s i d e o f d a t a without
s e a s o n a l a d j u s t m e n t and f o r d e s c r i p t i o n of s e r i e s *
p - Preliminary.



DEMAND DEPOSITS> CURRENCY, AND RELATED ITEMS
(Averages of dally figures, in billions of dollars.

Not seasonally adjusted.!)

Money Supply

Period
Total

Currency
component

Demand deposit
component

Related deposits
(All commercial banks)
U. S. Gov't,
Time
adjusted
demand

1965--May
June
July
August
September
October
November
December

157.6
159.6
160.9
160..5
163,.2
165.8
167.4
. 172.0

34.6
34.9
35.4
35.5
35.6
36.0
36.5
37.0

123.0
124.6
125.6
125.0
127.-5
129. 8^
130.9
135.0

135.4
136.6
138.3
140.2
141.4
143.5
144.4
145.3

9.7
9.3
9.1
7.4
5.6
5.0
4.0
4.5

1966—January
February
March
April
May
June p

173.0
167.8
167.8
171.6
166.9
168.8

36.5
36^3
36.5
36.8
37.0
37.3

136.5
131.5
131.3
134.8
129.9
131.5

147.4
148.7
150.2
152.2
153.9
154.0*

3.7
5.1
4.6
3.0
7.2
6.2

170.2
168.8
166.8
\ 164.6

36.7
37.2
37.0
36.8

133.5
131.6
129.8
127.8

153.1
153.5
153.8
154.2

5.9
6.4
7.7
7.7

165.6
167.7
169.8
171.0
(167.3/

37.0
37.4
37.4
37.4
37.1

128.6
130.2

154.5

132.4
133.7
129.8

153.7*
153.5*
153.3*

7.2
5.7
,3.2
5.2
9.8

Week ending:
1966—May
4
11
18
25
June

1
8
15 p
21 p
29 p

CoW^'A^^f ;&*•**<£ boif et

fitt.

*Effective June 9, balances accumulated for payment of personal loans were reclasisified for reserve purposes and are excluded from time deposits reported by member
banks. The estimated amount of such deposits at all commercial banks ($1,140 million)
is, excluded from time deposits adjusted beginning with the ^eek of Jmje 15.
p - Preliminary.
NOTE: Money supply consists of (1) demand deposits at all Commercial banks, other than
those due to domestic commercial banks and the U.S. Government, less cash items in
process of collection and Federal Reserve float; (2) foreigLi demand balances at
* Federal Reserve Banks; and (3) currency outside the Treasury, the Federal Reserve and
the vaults of all commercial banks. Time deposits adjusted are time deposits at all
commercial banks other than those due to domestic commerciail banks and the 0. S.
Government,