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,