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FEDERAL RESERVE statistical release For H 6(508) Release at 'f: 15 Eastern Time June 10, 1983 SPECIAL NOTICE Publication of weekly data on savings and small time deposits at commercial banks has been resumed with this release. In addition, historical data on savings and small time deposits at al_l depository institutions have been revised to reflect corrections of reporting errors beginning in December 1982. The revised monthly data are shown on the regular tables and the revised weekly commercial bank data prior to May are shown in Supplementary Table 1. FEDERAL RESERVE statistical release H6 (508) Table 1 For Release at 4:15 p.m Eastern Time JUMP 1 0 , 1983 MONEY STOCK MEASURES AND LIQUID ASSETS Billions of dollars M1 sum of currency, travelers checks, demand deposits and other checkable deposits1 Date 458.3 463.2 468.7 474.0 478.2 1850.6 1864.5 1880.9 1903.6 1917.0 1929.7 1945.0 1959.5 5/ 2240.7 2260.2 2283.4 2317.8 2333.9 2352.0 2370.2 2377.6 482.1 491.1 497.6 496.5 507.4 2010.0 2050.8 2070.0 2074.9 2097.9 2403.3 2430.6 2447.3 2456.0 2479.2 452.4 453.4 454.4 1982—MAI JUHE JULY AOG. SEPT. OCT. MOV. DEC. 1983—JAM. FEB. BAB. APB. HAY. P M3 M2 __ Seasonal 1y adjusted M1 plus overnight RPs and Eurodollars, M2 plus large time deposits, MMMF term RPs and balances (gen. institution-only pur. and MMMF broker/dealer), balances3 MMOAs, and savings and small time deposits2 5/ 5/ 5/ 5/ 5/ L M1 M3 plus other liquid assets4 2737.6 2767.0 2798.2 2823.6 2840.5 2866.0 2882.4 2896.8 sum of currency, travelers checks, demand deposits and other checkable deposits1 M2 M3 Not seasonally adjusted M1 plus overnight RPs and Eurodollars, M2 plus large time deposits, MMMF balances (gen. term RPs and institution-only pur. and MMMF broker/dealer), balances3 MMDAs, and savings and small time deposits2 445.8 450.8 454.3 454.3 461.0 470.6 479.0 491.0 1848.7 1865.4 1883.0 1896.5 1908.7 1928.6 1943.6 1964.5 5/ 2237.3 2257.2 2280.8 2308.8 2324.4 2350.4 2369.2 2385.3 489.7 480.7 489.2 504.4 499.8 2018.3 2042.5 2066.0 2088.6 2094.4 2415.2 2427.0 2446.0 2467.5 2474.4 5/ 5/ 5/ 5/ 5/ L M3 plus other liquid assets4 2737.7 2763.8 2790.0 2811.8 2825.5 2860.9 2881.3 2904.7 M1 For period ended 13-week average Seasonally adjusted 4-week average week average 13-week average Not seasonally adjusted 4-week average week average 1983—flAI 4 11 18 25 P 495.5 496.8 498.3 499.5 496.4 499.1 502.9 506.1 499.8 507.0 509.2 508.4 492.2 493.6 495.2 496.6 502.3 500.6 499.2 499.4 498.2 502.7 502.2 494.4 J0IE 1P 500.6 508.3 508.5 498.0 499.8 499.7 MOTE: SPECIAL CA0TIOV SHOULD BE TAKE! IV IVTEBPBETIVG VEBK-TO-VBBK CBAVGBS IV BOVBY SUPPLY DATA, VBICB ABB HIGHLY VOLATILE AMD SUBJECT TO B B f l S I O B . P~IVDICATES PBBLIBIVABT DATA. FOOTVOTES APPEAR OV THE POLLOHIVG PAGE H.6(508) Table 2 MONEY STOCK MEASURES AND LIQUID ASSETS Percent change at seasonally adjusted annual rates M1 M2 M3 3 HONTHS FROfl FEB. 1983 TO HAT 1983 13.3 9.2 8.0 6 MONTHS FBOH NOV. 1982 TO HAT 1983 14.1 15.7 9.2 12.2 13.4 10.6 Date 12 MOUTHS FBOH MAT 1982 TO HAT 1983 THIRTEEN WEEKS ENDING JOVE 1, 1983 FROM THIRTEEN WEEKS ENDING: 1/ BAR 2, 1983 (13 WEEKS PREVIOUS) 13.5 DEC. 1. 1982 (26 WEEKS PREVIOUS) 13.6 JUNE 2, 1982 (52 WEEKS PREVIOUS) 11.1 FOOTNOTES TO TABLE 1 AVERAGES OF DAILT FIGUBES FOB (1) CUBREICI OUTSIDE THB TBBASUBT. FBDBBAL BESEBVB BARKS AID THE VAULTS OF COMMERCIAL BANKS; (2) TRAVBLBBS CHECKS OF IONBANK ISSUBHS- (3) DBHABD DBPOSITS AT ALL COMMERCIAL BANKS OTHER THAN THOSE DUB TO DOMESTIC BAIKS, THE D.S. GOTERNHEIT AID FOREIGN BANKS AND OFFICIAL INSTITUTION LESS CASH ITEMS II THB PROCESS OF C o i " " w i i " FEDERAL RESEBVE FLOAT; AND (4) OTHER CHECKABLE DEPOSITS (OCD) CONSISTING OF lEGOTIABLB ORDER OF MITHDRAiAL (WOW) AND AOTOMATIC TBAISFEB SERVICE (ATS) ACCOUNTS AT DEPOSITOR INSTITUTIONS OTHER THAN CREDIT UNIOIS, CREDIT UNION SHABE DBAFT ACCOUITS AID DEMAND S 5 ? S ; ? I T THBIPT I « S T I T 0 T I O » S - " 1 CUBBBICT AID DBMAND DEPOSIT C ^ P O S E I " E 5 " 5 5 S THB 2/ i ? - 5 * ^ ! ; JS!!0"11™11 THAN $ 1 0 0 , 0 0 0B) , T I " D1P0SITS CTXM DBPOSITsi-INCLUDIIG BBTIIL Bp5"il"SSuiTS OF WSS AND PBALANCES IN BOTH TAIABLB AID TAX-BIBHPT GBIEBAL PURPOSE AID O1I0S T01L ^fl/Jn*" ° MARKET FUNDS. ALSO EXCLODBS AMOUNTS HELD BT U . S . COHMBBCIAL BAIKS, BBOKEB/DSILI» - MAUDES IBA AID KEOGH BALAICBS AT DipOSlio" iSsJwUTwJI ill HOIBT HABKBT FUIDS SOSBT (GBHEBAL ffss s?»ns'at zssjggnszjgi txssufsjsrji s£s 3/ mCLUDES LiBGE DEBOMI&TIOI T U B DBPOSITS AID TBB8 « S ( I I iBOOITS OF $ 1 0 0 0 0 0 OH BY COflBBBCIAL BANKS AID TBBIPT IMSHT0TIOBS, BXCL0DHG THOSE BELD BI OBPOsilOHI H S H s 0¥EB HE O i a KBT F0IOS ?L2; ; LlZ V " "' " SU " 0 F " " COflPO ' " ° "otiwi B»BKS u t ornczu IBSHT5T"BI 3 will » « " « S PBESBBTBD I B SOBSBQ.0BBT T4BIBS BI A COBSoIlDWIOB d nnl * " " » " « » "o»«* or CUBBICST BPS BBLD BI iMTnm<>£2i» ao«i OTHEB LIQOIO ASSETS IBCLOOB TBB BOHBABK POBtIC BOIOIIG OP 0-S. SAflIGS BONDS SBOBT-T»»II MONET MARKET DEPOSIT ACCOUITS ABB PRESEITLT I1CLUDBD I I BOTH H2 AID H3- HBETHP.fi SOUR t%9 F H.6 (508) Table 3 COMPONENTS OF MONEY STOCK MEASURES AND LIQUID ASSETS 3 Billions of dollars, seasonally adjusted unless otherwise noted Date Currency1 Travelers checks? Overnight Other Demand checkable RPsS deposits'* deposits4 NSA Overnight Eurodollars6 NSA Money market deposit accounts 7 NSA Savings deposits8 at commercial banks at thrift Institutions total Small denomination time deposits9 at . at total commerthrift cial institubanks tions Money marker mutual fund balancesiO general purpose institution only and broker/ dealer 127.4 128.2 i1.5 i1.5 233. 1 232.3 87.4 88.4 32.7 32.8 7.4 7.5 0.0 0.0 159.3 159.5 187.3 187.8 346.6 347.2 370.5 375.0 482.0 484.3 852.5 859.3 164.9 170.1 35.6 36.6 JULI AUG. SEPT. 128.8 129.6 130.5 1.4 1.4 1.4 232.1 232.5 234.0 89.1 91.8 94.3 33.3 34.0 34.1 8.5 8.4 7.4 0.0 0.0 0.0 158.2 158.4 159.6 186.8 188.3 190.4 345.0 346.7 350.0 383.8 388.6 391.4 489.2 491.2 491.8 872.9 879.8 883.2 172.9 182.3 185.1 40.4 47.1 48.2 OCT. MO?. DEC. 131.3 131.9 132.8 1.4 1.4 1.2 236.0 237.6 239.8 97.0 100.1 101.3 37.4 38.5 38.5 6.5 6.7 5.8 0.0 0.0 43.2 162.3 166.2 163.4 195.7 200. 1 195.9 358.0 366.4 359.3 389.9 389.2 383.2 488.1 485.8 475.9 878.0 874.9 859. 1 187.6 191.1 182.2 49.3 49.9 47.6 1983-JAM. FEB. BAB. 134.2 135.6 137.0 1.1 >.3 1.5 239.4 238.8 240.1 104*5 112.5 116.0 40.1 41.0 40.8 7.2 7.8 7.8 189.1 277.7 320.5 151.7 144.7 142.3 183.4 181.0 180.5 335.1 325.7 322.8 356.7 337.7 326.8 440.7 417.4 407.0 797.4 755.1 733.8 166.7 159.6 154.0 46.1 45.2 43.5 138.0 139.3 1.6 1.6 238.9 242.6 115.0 120.9 42.3 47.1 8.1 9.1 341.2 357.0 140.8 140.8 181.1 182.6 321.9 323.4 J21.5 316.9 404.3 401.8 725.7 720.7 146.7 140.8 41.0 40.4 1982-HAY JUNE APB. BAI P WEEK EIDIBG 1983 BAT 4 11 18 25 P 138.7 138.9 139.3 139.5 238.7 24 3.2 244.1 242.7 117.7 120.2 121.2 121.6 45.7 46.0 45.8 49.3 9.3 7.7 8.8 10.1 347.5 352-7 357.1 360.8 141.0 141.2 141.0 141.0 320.4 319.4 318.5 318.0 141.7 140.7 140.7 140.7 40.5 40.5 40.5 40.4 1P 140.0 242.2 121.8 48.0 9.9 363.6 141.0 317.7 140.4 40.0 JOIB 1/ C0BBEBCT OUTSIDE TIB U.S. TiBASUiY, F.B. BABKS ABD fAOLTS OF COBBEBCIAL BABKS. EXCLUDES THE BSTIBATEO AHO0VT OF VAULT CASH BELD BT THRIFT IBSTITOTIOBS TC SEBVICB TBBIB OCD LIABILITIES. OOTSTABDIBG ABOOBT OF U.S. DOLLAR-DEROBIBATBD TRAVELERS CHECKS OF BOBBABK ISSOBBS. DBBABO DEPOSITS AT COBBEBCIAL BABKS ABD FOBBIGB BELATED IBSTITOTIOBS OTHBB THAB TBOSB DUB TO DOMESTIC BABKS, THE U.S. GOVERRBBBT ABC FOBEIGB BABKS ABD OFFICIAL IHSTITUTIOBS LESS CASH ITBBS IB THE PROCESS OF COLLECTION ABD F.B. FLOAT. EXCLUDES THE BSTIHATED ABOOUT OF DEHABD DEPOSITS HELD AT COBHEECLAL BABKS BT THRIFT IBSTITUTIOBS TO SERVICE THBIH OCD LIABILITIES. 4/ IICLODES ATS ABD BOB BALAHCBS AT ALL DEPOSITORY. IBSTITUTIOBS EICBPT CREDIT URIOBS, CREDIT UBIOH SHABB DRAFT BALABCES ABD DEflAMD DEPOSITS AT THRIFT IBSTITUTIOBS. OTHBB CHECKABLE DEPOSITS SEASOBALLT ADJUSTED EQUALS DEB AIID DEPOSITS PLUS OCD SEASONALLY ADJUSTED LESS DEBABD DEPOSITS SEASOBALLT ADJUSTED. BOH ACCOUBTS IBCLUDB CEILING FBBE "SUPER BOBS," AUTHORIZED BY THE DEPOSITOR! INSTITOTIOBS DBBEGULATIOB COHHITTBB TO BE OFFEBED BEGINNING JARUART 5, 1983. PRBLIHIRART DATA IBDICATE THAT BALANCES IB "SUPBR MOMS" HERE ABOUT 130.2 BILLIOR IB THE REEK ERDED HAT 18, ABOUT $30.3 BILLIOH IN THE REEK EBDBD BAT 25, ABD ABOUT $30.8 BILLION IN THE REEK ENDED JUNE 1. THESE FIGURES INCLUDE BALANCES IN "SOPER BORS" AT COHBBRCIAL BABKS OF ABOUT $21.0 BILLION IB THE RBBK ENDED HAT 18 AND ABOUT $21.1 BILLION IB TBB WEEK ENDED BAT 25. FIGURES FOB THE LATEST REEK ABB ROT TET AVAILABLE BT TTPB OF INSTITUTION. 5/ INCLUDES OVERNIGHT AND COVTIBUING COBTBACT RPS ISSUED BT COHBERCIAL BARKS TO OTHBR THAN DEPOSITOR! INSTITUTIONS AND HONBT HARKET BUTUAL FUNDS (GENBBAL PURPOSE AND BROKER/DBALBB) . 6/ ISSUED BT FOREIGN (PRINCIPALLY CARIBBEAB AND LONDON} BRARCHES OF U.S. BABKS TO U.S. RESIDENTS OTHBB THAN DEPOSITORY INSTITUTIONS AND HONET MARKET BUTUAL FUNOS. 7/ «ONEY BASKET DEPOSIT ACCOUNTS (BBDAS) HERB AUTHORIZED BY THE DEPOSITORY INSTITUTIONS DEREGULATION COHHITTEE TO BE OFFERED BEGINNING DECEH8BR 14, 1962. 8/ SAVINGS DEPOSITS EICLODE BHDAS. 9/ SMALL DENOMINATION TINE DEPOSITS — INCLUDING RETAIL RPS — ARE THOSE ISSUED IN AHOUNTS OF LESS THAN $100,000. ALL INDIVIDUAL RETIREMENT ACCOUNTS (IRA) AND KEOGH ACCOUNTS AT COHBBRCIAL BANKS AND THRIFTS ARE SUBTRACTED FBOH S8ALL TIME DEPOSITS. 10/ NOT SEASONALLY ADJUSTED. INCLUDES BALANCES IN BOTH TAXABLE AND TAX-BXBHPT FUNDS. ALL INDIVIDUAL RETIREMENT ACCOUNTS 2/ 3/ H.6 (508) Table. 3-continued COMPONENTS OF MONEY STOCK MEASURES AND LIQUID ASSETS 311110ns or dollars, seasonally aa ustea unless otnerwise noted Large denomination time deposits 1 at commercial at thrift banks2 institutions total Date Term 4 Eurodollars Term RPs3 at thrift at commercial banks NSA institutions NSA total NSA NSA Savings bonds Short-term Treasury securities^ Bankers^ acceptances^ Commercial paper7 263.2 267.4 58.9 60.0 322.1 327.4 25.6 24.6 11.3 11.7 37.0 36.3 83.8 84.7 67.7 67.7 192.1 197.2 41.3 41.6 115.7 JULY AUG. SEPT. 271.7 273.6 273.6 60.4 61.3 62.5 332.1 334.9 336.1 22.7 25.4 24.6 11.8 11.6 11.8 34.5 37.0 36.4 83.7 80.9 80.6 67.6 67.5 67.5 202.9 204.1 203.6 42.0 41.3 41.4 118.7 112.0 113.7 OCT. MOV. DEC. 275.3 273-7 267.0 64.3 66.8 66.7 339.6 340.4 333.8 26.0 27.8 28.2 11.7 11.6 12.1 37.7 39.4 40.3 81.1 79.5 80.1 67.6 67.8 67.9 210.3 214.5 217.6 42.8 43.1 44.9 112.3 107.3 108.8 1983-JAN. FEB. MAR. 247.6 235.2 231.7 63.1 62.7 64.6 310.7 297.9 296.3 27.9 28.6 29.4 12.6 12.2 12.3 40.6 40.8 41.7 231.6 227.2 69.3 72.7 3O0.8 299.8 30.7 32.6 12.4 12*5 43.1 45.1 1982-HAY JUNE APE. HAY P 112.1 HBBK B I D I N G : 1983-MAY JOVE 1/ 2/ 3/ 4/ 5/ 6/ 7/ 4 11 18 25 P 229.9 228.7 227.5 223.4 31.2 32.2 33.4 33.0 1 P 227.5 32.6 LABGE DENOMINATION TIHE DEPOSITS ABE THOSE ISSUED IN AMOUNTS OP $100,000 OB MORE, EXCLUDING THOSE BOOKED IT INTBENATIONAL BANKING FACILITIES (IBPS) . LABGE DENOMINATION TIME DEPOSITS AT COHHBBCIAL BANKS LESS LABGB TIHE HBLD BY HONEY HARKBT H0T0AL PONDS AND THBIPT INSTITUTIONS. TEBB BPS ABE THOSE WITH OBIGINAL HATUBITY GBEATEB THAI ONE DAY, EXCLUDING CONTINUING CONTRACTS AID RETAIL EPS. TERM EUBODOLLABS ABE THOSE NITH OBIGINAL HATUBITY GBEATEB THAI ONE DAY EXCLUDING THOSE HELD BT DEPOSITORY INSTITUTIONS AID HONEY HABKBT MUTUAL PONDS. INCLUDBS 0.S. TBEASOBY BILLS AND COUPONS WITH BEHAINIIG HATUBITY OP LESS THAI 18 MONTHS HBLD BY OTHBB THAI DEPOSITORY INSTITUTIONS, P.B. BANKS, AND HONEY BASKET HUTOAL PUNDS. NET OF BANKERS ACCEPTANCES HELD BY ACCEPTING BANKS, F.B. BANKS, FOBEIGN OFFICIAL INSTITUTIONS, THE FEDERAL HOME LOAN BAIK SYSTEH, AND MONEY HABKET MUTUAL FUNDS. TOTAL COHHEBCIAL PAPEB LESS COMMEBCIAL PAPEB HELD BY HOBBY MARKET HUTOAL FUIDS. H.6 (508) Table 3A COMPONENTS OF MONEY STOCK MEASURES AND LIQUID ASSETS 5 Billions of dollars, not seasonally adjusted other checkable deposits Demand deposits Date Currency1 at foreignrelated banking offices in the U.S.5 at thrift Travelers checks2 at member banks 3 at domestic nonmember banks 4 127.2 128.3 4.3 4.7 147.7 149.2 77.5 78. 1 4.0 3.7 228.8 230.7 67.9 69.2 17.5 18.0 85.4 87.2 32.7 32.8 7.4 7.5 JOLT AUG. SEPT. 129.8 130.1 130.2 4.9 4.9 4.7 151.0 150.1 152.5 77.4 76.2 77.0 3.7 3.7 3.9 231.7 229.6 232.9 69.3 70-7 73.4 18.5 19.1 19.9 87.9 89.8 93.3 33.3 34.0 34.1 8.5 8.4 7.4 OCT. NO?. DEC. 131.3 132.7 135.2 4.4 4.2 4.0 155.7 158.0 163.3 78.3 79.3 81.0 4.0 3.9 3.9 237.6 240.6 247.7 76.1 79.2 81.0 21.2 22.3 23.1 97.3 101.5 104.0 37.4 38.5 38.5 6.5 6.7 5.8 1983-JAN. FSB. HAB. 133.2 133.7 135.4 3.9 4.1 4.3 161.9 153.4 155.4 80.1 76.2 76.5 3.7 3.6 3.7 245.1 232.8 235.2 82.4 83.6 86.7 25.1 26.4 27.7 107.5 110.0 114.3 40.1 41.0 40.8 7.2 7.8 7.8 137.4 138.9 4.4 4.4 160.1 157.4 79.0 77.6 3.8 3.7 242.4 238.2 90.7 88.7 29.5 29.5 120.3 118.2 42.3 47.1 8.1 9.1 I982-1UX JONS APB. MAI P total6 at commercial banks 7 institutions 8 Overnight total RP «JL Overnight Eurodollar! 1 0 SEEK ENDING: 1983-MAY JUNE 1/ 2/ 3/ 4/ 5/ 6/ 7/ 8/ 9/ 10/ 4 11 18 25 P 137.8 139.6 139.0 138.4 156.8 157.7 159.1 155.5 78.3 78.7 78.0 75.7 4.1 3.6 3.8 3.6 238.7 239.6 240.5 234.5 87.9 89.3 88.7 88.1 29.4 29.8 29.5 29.1 117.4 119.1 118.3 117.1 45.7 46.0 45.8 49.3 9.3 7.7 8.8 10.1 1P 139.3 157.1 77.1 3.6 237.4 89.0 29.6 118.6 48.0 9.9 CURRENCY OUTSIDE THE U.S. TBBASUBY, P. B. BAMKS AND THE VAULTS OF COHHBBCIAL BANKS. EXCLUDES THE ESTIMATED AHO0IT OP VAULT CASH HELD BT THBIFT INSTITUTIONS TO SERVICE THEIB OCD LIABILITIES. OUTSTANDING AMOUNT OF U.S. DOLLAR-DENOMINATED TRAVELERS CHECKS OF NONBANK ISSUEBS* DEMAND DEPOSITS OTHEB THAU THOSE DOE TO DOMESTIC BANKS, THE U.S. GOVERNMENT AND FOREIGN BAMKS AMD OFFICIAL INSTITUTIONS LESS CASH ITEMS IV THE PBOCBSS OF COLLECTION AND F.R. FLOAT AT HEMBEB BANKS OF THE FEDERAL RESERVE SYSTEM. DEMAND DEPOSITS OTHEB THAN THOSE DOE TO DOMESTIC BANKS, THE O.S. GOVERNMENT AND FOREIGN BANKS AND OFFICIAL INSTITUTIONS LESS CASH ITEMS IN THE PROCESS OF COLLECTION k% NONHEHBEB BANKS. DEPOSITS AS DESCBIBED IN FOOTNOTE 4 AT AGENCIES AND BLANCHES OF FOBSIGN BANKS, EDGE ACT COBPORATIOMS AND FOBBIGN INVESTMENT COMPANIES. EQUALS SUM OF THBEE PBEVIOUS COMPONENTS LESS THE ESTIMATED AMOUNT OF DEMAND DEPOSITS HELD AT COMHEBCIAL BANKS BY THBIFT INSTITUTIONS TO SERVICE THEIR OCD LIABILITIES. NON AND ATS BALANCES AT COMMERCIAL BANKS, BRANCHES AND AGENCIES OF FOBBIGN BANKS, AND EDGE ACT CORPORATIONS. NOH AND ATS BALANCES AT SAVINGS AND LOAN ASSOCIATIONS AND MUTUAL SAVINGS BANKS, CREDIT UNION SHARE DRAFT BALANCES, AND DEMAND DEPOSITS AT THRIFTS. INCLUDES OVERNIGHT AND CONTINUING CONTRACT RPS ISSUED BY COMMERCIAL BANKS TO OTHER THAN DEPOSITORY INSTITUTIONS AND MONEY MARKET MUTUAL FUNDS (GENERAL PURPOSE AND BROKER/DEALER). ISSUED BY FOREIGN (PRINCIPALLY CARIBBEAN AND LONDON) BRANCHES OF U.S. BANKS TO U.S. RESIDENTS OTHEB THAN DEPOSITORY INSTITUTIONS AND HONEY MARKET MUTUAL FUNDS (GENERAL PUBPOSB AND BBOKBB/DEALBB). H.6 (508) Table 3A—continued COMPONENTS OF MONEY STOCK MEASURES AND LIQUID ASSETS Billions of dollars, not seasonally adjusted Date at savings and loans at mutual savings banks 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 OCT. •Of. DSC. 0.0 0.0 26.5 0.0 0.0 12.7 1983-JAM. FSB. HAB. 114.2 163.3 185.8 Small denomination time deposits2 Savings deposits1 Money market deposit accounts at commercial bank§ at savings and loans at mutual savings banks at credit unions 0.0 0.0 160. 1 160.1 95.7 95.8 46.8 46.9 45.3 45.9 347.9 348.6 372.7 376.9 0.0 0.0 0.0 0.0 0.0 0.0 159.9 159.3 159.7 95.6 94.9 95.3 46.9 46.6 46.8 46.2 45.9 46.4 348.6 346.8 348.2 0.0 0.0 3.8 0.0 0.0 0.3 0.0 0.0 43.2 163.0 165.0 161.8 98.2 99.5 96.5 47.7 48.3 47.5 48.8 50.5 51.0 57.9 88.6 103.7 16.0 24.3 28.9 0.9 1.6 2.0 189.1 277.7 320.5 150.3 143.5 142.1 88.0 84.9 83.3 44.7 43.2 42.7 51.7 53.0 55.2 198.0 207.6 109. 1 113.0 32.0 34.2 2.2 2.2 341.2 357.0 142.0 141.7 82.7 82.9 43. 1 42.7 57.0 4 11 18 25 P 201.3 204.8 207.7 210.1 110.0 111.2 112.3 115.0 34.0 34.5 34.9 33.5 2.2 2.2 2.2 2.2 347.5 352.7 357.1 360.8 141.5 142.0 141.9 141.7 321.7 321.1 320.5 320.0 1P 212.1 115.4 33.9 2.2 363.6 141.5 320.0 1982-HAY JUNE JOLT AUG. SEPT. APB. HAT P at commercial banks at credit unions total at commercial banks at mutual savings banks at credit unions 370.0 370.8 95.0 95.3 18.2 18.4 855.9 861.4 383.0 387.4 389.7 374.0 374.5 374.9 95.9 95.8 95.5 18.8 18.9 19.0 871.6 876.6 879.0 357.8 363.4 356.7 388.3 387.1 380.2 374.5 373.7 365. a 94.2 92.9 90.4 18.2 17.8 17.4 875.3 871.6 853.9 334.7 324.5 323.3 356.3 339.3 329.2 340.9 322.7 315.0 84.7 80.5 77.9 16.7 16.1 15.6 798.6 758.5 737.7 324.7 322.7 320.6 312.6 311.4 77.7 75.8 15.6 15.5 728.7 723.3 total MM at savings and loans HSBK BMDIMG 1983 HAY JOMB 1/ 2/ SAVINGS DEPOSITS BXCLODE SftDAS. SHALL DBHOHIBATIOM TIHB DEPOSITS — IHCLODIMG BBTAIL BPS — ABB THOSB ISS0BD IN ABOOITS OF LBSS THAI $100,000. ALL IMDIVIDOAL BETI1BHEBT ACCOOiTS (IBA) AMD KBOGH ACCOOJTS AT COHS3BCIAL BABRS AMD THRIFTS ABB SOBTBACTBD FHOH SHALL TIflE DEPOSITS. total H.6 (508) Table 3 A-continued COMPONENTS OF MONEY STOCK MEASURES AND LIQUID ASSETS 7 Billions of dollars, not seasonally adjusted Term RPs4 Large denomination time deposits > at mutual at commercial banks2 at savings and loans 261.7 263.8 J0L1 AUG. SEPT. Term Commercial Bankers paper acceptances7 total Eurodollars 5 Savings bonds Short-term Treasury securities 6 25.6 24.6 11.3 11.7 37.0 36.3 83.8 84.7 67.4 67.4 195.6 197.0 40.9 41.4 112.8 116.1 327.4 332.9 334.9 22.7 25.4 24.6 11.8 11.6 11.8 34.5 37.0 36.4 83.7 80.9 80.6 67.4 67.5 67.5 198.7 199.1 199.2 41.3 40.9 41.8 118.0 114.7 112.0 6.6 6.6 6.4 339.1 340.8 336.5 26.0 27.8 28.2 11.7 11.6 12.1 37.7 39.4 40.3 81.1 79.5 80.1 67.7 68.0 68.2 206.8 212.5 216.8 43.4 43.9 45.1 111.5 108.2 109.2 57.7 58.0 59.6 5.6 5.4 5.4 314.2 302.6 299.0 27.9 28.6 29.4 12.6 12.2 12.3 40.6 40.8 41.7 63.0 66.5 5.5 5.7 298.6 298.6 30.7 32.6 12.4 12.5 43.1 45.1 total 3 52.5 53.2 6.0 6.0 320.6 323.5 267.5 271.9 272.7 53.4 54.3 55.1 6.0 6.2 6.5 OCT. MOV. DEC. 275.0 274,6 270.0 57.0 59.1 59.5 1983-JAB. BAB. 250.4 238.7 233.5 APB. BAY P 229.6 225.8 1982-BAY JUNE at commercial banks at thrift institutions savings banks Date HBSK BBDIM6: 1983-air JOVE 1/ 2/ 3/ 4/ 5/ 6/ 7/ 8/ 4 11 18 25 P 226.8 226.6 225.8 223.2 31.2 32.2 33.4 33.0 1 P 227.3 32.6 LARGE DBNOHINATION TIBB DEPOSITS ABE TBOSB I S S 0 B D I B ABO0BTS OP $ 1 0 0 , 0 0 0 OB BOBE, EXCLUDING THOSE BOOKED AT IBTBBKATIOBAL BABKIBG F A C I L I T I E S ( I B F S ) . LABGE OBBOBIMATIOB TIHB DEPOSITS AT COBBBBCIAL BABKS LBSS LABGB TIBB HELD BI BOBBY flABKST BOTOAL P 0 B 0 S ABO TBBIFT INSTITQTIOBS. TOTAL LABGS DBNOBINATION TIBB DEPOSITS EXCEEDS SUB OF TBBBB PREVIOUS COLOBBS BY S0CB DEPOSITS AT CBBDIT 0 B I O B S . TBRH BPS ARE THOSE HITH ORIGIHAL BATOBITY GREATER TBAB OBB DAT, BICLODIBG COBTIBOIBG COBTBACTS ABD BETAIL E P S . TBRB EURODOLLARS ARE THOSE BITH ORIGIHAL BATORITT GBBATBR THAR OBB DAY BXCLUDIHC THOSE HELD BY DBP0SIT&3Y IBSTITOTIOBS ABD HOMEY BABKET fiOTUAL PUMDS. INCLUDES O . S . TBBASORY BILLS AMD COOPOHS HITH BEHAllIMG HATORITY OP LESS THAR 18 BOHTHS HELD BY OTHER THAR DBPOSITOBY I N S T I TUTIONS, P . B . BAMKS# ARD MOREI HARKET BOTOAL rUUDS. NET OF BANKERS ACCEPTANCES HELD BY ACCEPTING BANKS, F . B . BJiHKS, FOREIGN OFFICIAL INSTITUTIONS, THE PBDBRAL HOHB LOAN BANK SYSTEB, AMD HONEY HARKET HUTUAL FUNDS. TOTAL COHHERCIAL PAPER LESS CCflflSRCIAL PAPER HELD BY flONEY BARKBT HOTUAL 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 8 Time and savings deposits due to foreign commerical banks and foreign official institutions U.S. government deposits demand deposits at commercial banks balances at Federal Reserve Banks IRA and Keogh Accounts note balances total demand at commercial deposits and note and banks and thrift FR balances institutions ime and savings • deposits at commercial banks commerical banks thrift Institutions money market mutual funds total 1982-HAY JOMB 9.4 9.4 2.1 2.4 9.1 9.6 2.6 3.2 4.5 3.3 12.7 7.5 19.8 14.0 0.9 1.0 14.0 14.7 23.3 23.8 3.7 3.9 41.0 42.5 JULI AUG. 2.5 2.3 2.0 9.9 9.7 9.4 2.5 2.3 3.3 3.3 3.3 3.8 5,7 5.8 9.0 11.6 11.4 16.1 ().9 SEPT. 9.6 8.6 8.4 1.0 11.1 15.2 15.6 16.0 24.5 25.1 25.8 i1.1 41.2 41.3 43.8 44.9 46.2 OCT. MOV. DEC. 8.4 8.4 8.6 2.2 1.9 2.1 9.2 9.2 9.0 2.5 2.6 2.9 3.2 3.1 3.2 13.8 5.3 7.9 19.5 10.9 14.0 I.I 1.1 I.I 16.6 17.2 17.9 26.6 27.1 27.7 1.4 I 1.5 1.6 47.6 48.8 50.1 1983-JAM. FEB. flll. 7.8 7.9 8.1 2.1 2.0 1.9 8.7 8.3 8.1 2.8 2.6 2.7 3.3 3.2 3.3 13.5 7.4 10.4 19.6 13.4 16.5 1.0 0.9 1.0 19.3 20.7 22.8 28.8 29.7 31.3 1.7 1.8 1.9 52.8 55.2 59.0 >.9 8.1 2.0 2.0 7.9 7.7 3.9 2.5 3.8 3.6 10.3 9.8 18.0 15.9 1.1 0.9 26.2 27.4 33.6 3%. 9 5.3« 5.5« 65. 2« 67.1% 25 P 8.0 8.0 7.7 7.9 2.0 2.0 2.0 t.9 7.8 7.8 7.7 7.7 3.6 2.3 2.8 2.1 5.9 3.8 3.1 3.0 17.9 15.0 10.8 5.6 27.3 21.1 16.7 10.6 1.0 0.8 0.8 0.8 1 P 8.9 2.0 7.5 2.0 2.9 2.3 7.2 0.8 AP*. HAY P WEEK EMDIMG: 1983 AAY 4 II 18 JOMB E-Estiraated Supplementary Table 1 <savings and Small Denomination Time Deposits at all Commercial Banks (Billions of dollars) Savings Deposits Seasonally Not seasonally adjusted adjusted 1982 - December 1983 - January February March April Small Time Deposits Not seasonally Seasonally adjusted adjusted 1 166.8 165.2 388.5 386.9 8 167.4 166.4 389.7 386.8 15 166.9 165.8 388.4 385.4 22 161.9 160.2 380.7 377.8 29 159.3 157.2 375.7 373.2 5 157.6 156.2 369.1 368.0 12 153.9 153.0 361.5 361.1 19 151.0 149.6 355.5 355.7 26 149.1 147.2 350.4 350.8 2 147.6 145.5 345.5 346.5 9 146.0 144.4 341.3 342.8 16 144.8 143.4 338.4 339.9 23 144.7 143.1 335.1 336.9 2 143.8 142.1 331.7 333.9 9 143.5 142.3 328.9 331.7 16 142.9 142.1 326.5 329.5 23 142.5 142.0 325.3 328.0 30 141.5 141.8 324.7 326.9 6 141.3 143.1 323.2 324.6 13 140.9 142.8 321.5 322.8 20 140.6 141.1 321.2 322.5 27 141.2 141.3 320.6 321.8 Supplementary Table 2 Levels and Annual Growth Rates of Ml Using Current^ and Experimental Alternative^ Seasonal Adjustment Procedures (Monthly average) Levels in billions of dollars Current Experimental Alternative Annual growth rates in percent Current Experimental Alternative 452.4 452.3 8.3 2.9 June 453.4 453.3 2.7 2.7 July 454.4 452.0 2.6 -3.4 August 458.3 456.8 10.3 12.7 September 463.2 462.8 12.8 15.8 October 468.7 468.0 14.2 13.5 November 474.0 474.8 13.6 17.4 December 478.2 478.5 10.6 9.4 482.1 481.0 9.8 6.3 February 491.1 490.7 22.4 24.2 March 497.6 498.7 15.9 19.6 April 496.5 493.7 -2.7 0.0 May 507.4 507.6 26.3 21.4 1982 - May 1983 - January 1. Current monthly seasonal factors are derived using an X-11/ARIMA-based procedure. 2. Alternative monthly seasonal factors are derived using an experimental modelbased procedure. This procedure uses a combination of statistical regression and time series modeling techniques to construct seasonal factors that are more sensitive than the current factors to unique characteristics of each series. These characteristics include fixed and evolving seasonal patterns, trading day effects, within-raonth seasonal variations, holiday effects, outlier adjustments, special events adjustments, and serially correlated noise components. SPECIAL SUPPLEMENTARY TABLE Monthly Survey of S e l e c t e d Deposits and Other Accounts At A l l Insured Commercial Banks and All Mutual Savings Banks March 30, 1983, April 27, 1983 and May 2 5 , 1983 (not s e a s o n a l l y a d j u s t e d ) 1 Liability Categories Super NOW accounts (standard error of the estimate)^ Insured Commercial Banks Apr. 27 May 25 Mar. 30 Amount outstanding ($ millions) 21,194 22,486 19,878 (399) (418) (333) MutuaJ L Savings Banks Mar. 30 Apr. 27 May 25 Amount outstanting ($ millions) 785 847 728 (203) (5) (12) 7- to 31-day money market certificates^ (standard error of the estimate) 5,191 (537) 5,082 (575) 5,130 (585) 302 (108) 270 (107) 290 (119) 91-day money market certificates*1 (standard error of the estimate) 5,253 (224) 5,689 (218) 5,523 (222) 376 (18) 379 (18) 353 (18) 6-month money market certificates^ (standard error of the estimate) 186,623 (1,929) 181,695 (1,934) 177,804 (1,944) 36,741 (653) 35,311 (651) 33,831 (679) 88,856 (1,714) 89,170 (1,734) 90,215 (1,838) 25,680 (505) 25,305 (573) 25,100 (572) 4,682 7,274 9,564 732 1,179 1,730 23,588 26,885 27,476 7,167 7,674 7,747 1-1/2 year and over variable ceiling certificates^ (standard error of the estimate) 2-1/2 year ceiling-free time deposits7 8 All IRA/Keogh Plan Deposits Retail repurchase agreements^ (standard error of the estimate) Liability Categories 2,695 (457) 2,245 (346) 2,157 (333) Number of Offering Institutions 416 (96) 415 (103) 421 (122) Number of Offering Institutions 12,104 12,316 11,804 263 262 259 7,154 7,280 7,054 167 162 159 91-day money market certificates 13,027 12,895 12,900 366 364 349 6-month money market certificates 13,994 14,132 14,108 410 409 406 1-1/2 year and over variable ceiling certificates 12,768 13,012 13,528 410 409 396 Super NOW accounts 7- to 31-day money market certificates 2-1/2 year ceiling-free time deposits N.A. N.A. N.A. N.A. N.A. N.A. All IRA and Keogh Plan deposits N.A. N.A. N.A. N.A. N.A. N.A. Retail repurchase agreements 4,091 165 168 176 4,226 4,525 N.A. - Data not available, p - preliminary. 1. Estimates are based on data collected by the Federal Reserve from a stratified random sample of about 550 banks and 90 mutual savings banks. 2. Super NOW accounts are NOW accounts containing an agreement between depositor and depository such that, provided certain conditions—Including a $2,500 minimum balance—are met, some or all funds deposited are eligible to earn more than 5.25 percent. 3. 7- to 31-day money market certificates are nonnegotiable time deposits that require a minimum daily balance of $20,000, but less than $100,000, and have an original maturity or required notice period of at least 7 days but no more than 31 days. The maximum permissible rate of Interest is tied to the discount yield (auction average) on the most recently issued 91-day Treasury bill. 4. 91-day money market certificates are negotiable or nonnegotiable time deposits issued in denominations of at least $7,500, but less than $100,000, with original maturities of exactly 91 days for which the maximum permissible rate of Interest on new deposits is tied to the discount yield on the most recently issued 91-day (13-week) Treasury bill (auction average). 5. 6-month money market certificates (MMCs) are nonnegotiable time deposits in denominations of $10,000, but less than $100,000, with original maturities of exactly 26 weeks for which the maximum permissible rate of interest on new deposits related to the discount yield on the most recently issued 6-month Treasury bill (auction average). 6. This category includes all 4-year and over variable celling accounts having no legal minimum denomination issued between July 1 and December 31, 1979, all 2-1/2 year and over variable ceiling accounts issued between January 1, 1980, and March 31, 1983, and all 1-1/2 year variable ceiling accounts authorized beginning April 1, 1983. 7. Ceiling-free time deposits are all negotiable or nonnegotiable time deposits in denominations of less than $100,000 with original maturities of 3-1/2 years or more that were offered between May 1, 1982, and March 31, 1983, and all 2-1/2 year ceiling-free time deposits authorised beginning April 1, 1983. Excludes IRA/Keogh accounts. 8. All IRA/Keogh Plan time deposits regardless of size, type of Instrument in which held, or interest rate paid. 9. Retail repurchase agreements are in denominations of less than $100,000 with maturities of less than 90 days that arise from the transfer of direct obligations of, or obligations fully-guaranteed as to principal and interest by, the U.S. Government or an agency thereof. NOTE: See table 1.16 in the Federal Reserve Bulletin for regulatory ceiling rates on specific account categories.