Full text of H.6 Money Stock Measures : June 21, 1979

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FEDERAL RESERVE

statistical release

Table 1

FEDERAL RESERVE Statistical R«l*asji H.6(S08)

For Immediate R « I H M

MONEY STOCK MEASURES
JUNE

IN BILLIONS OF DOLLARS

M-1 +

M-1

M-1 Rus
Savings
Currency
Deposits at
Rus
CB's and
Demand
Deposits y Checkable
Deposits at
Thrift Inst. 2J

Date

M-2

M-4

M-3

M-1 Rus
M-2 Rus
Time
Deposits at Deposits at
Nonoank
Commercial
Thrift
Banks Other
Than Large Institutions*/
CD's 3/

M-2 Rus
Large
Negotiable
CD's 5/

M-3 Rus
Large
Negotiable
CD's 5/

M-1 +

M-1

M-5

Currency
Rus
Demand
Deposits^

M-2

M-3

M-1 Plus
M-1 Rus
Savings
M-2 Rus
Time
Deposits at Deposits at Deposits at
CB's and
Nonbank
Commercial
Checkable Banks Other
Thrift
Deposits at Than Large Institutions-*/
Thrift Inst. 2/ CD's 3/

21,

M-4

M-5

M-2 Rus
Large
Negotiable
CD's 5/

M-3 Rus
Large
Negotiable
CD's &

Seasonally A H I . I . W *

350.7
352.5
354.4
356.7
360.7
361 .2
360.6
361.2
359.7
353.6
359.3
364.3
364.7

576.1
578.6
580.1
533.6
5 39.5
589.9
587.7
587.1
583.2
580.0
579.5
584.8
534.0

836.7
842.6
848.6
856.5
865.6
870.2
873.7
875.8
875.0
876.7
879.5
889.P
894.0

18
25

365.8
366.?

536.5
536.7

890.9
892.6

2
9
16
?3
30

364.?
364.8
364.3
364.5
364.0

534.0
^34.3
533.5
583.7
583.1

891.8
892.7
892.9
894.4
895.3

1978—-MAY
J'JNE
JULY
AUG.
SEPT.
OCT.
NOV.
DEC.
1979—JAN.
C
5B.
MAR.
APR.
^Y P

345. 5
351.8
356.2
354.1
358.5
361.0
362.6
371.3
365.4
351 .9
353.7
367.4
359.3

572.7
579.5
583.7
580.9
585.5
588.0
587.8
595.1588.2
572.6
575.5
590.4
580.4

834.9
844.0
851.3
353.4
861.1
867. 5
871.0
R31.5
879.6
371 .0
878.2
896.8
r 89 2.4

986.1
986.9

373.8
367.1

596.9
589.0

90 7.6
896.3

99r>. 1
987.3

985.3
985.4
984.3
934.3
983.6

362.5
360.5
360.9
355.5
356.2

583.5
581.3
C
81.9
577.6
577.?

89?. 5
891.7
893.2
893.4
rt
;01.6

98?..9
981.7
Q82.7
O79. 1
9/9.3

592.3
591.7

r 906.3
906.7

r «91. 8
99 0. P

922.9
929.3
Q36.6
944.1
954.1
958.8
969.1
972.4
975.5
978.8
978.5
984.8
984.6

1422.0
1433.1
1444.5
1458.0
1474.1
1484.8
1493.1
1500.1
1503.7
1509.7
1517.5
1530.9
1536.9

1508.2
1519.8
1532.5
1545.6
1562.6
1573.4
1588.6
1596.7
1604.2
1611.8
1616.5
1625.9
1627.5

1421.3
1436.8
1450.1
1455.1
1468.6
1480.9
1487.2
1502.8
1506.8
1502.1
1517.4
1540.9
r 1536.4

919.5
930. 3
938.6
941.5
951.4
958.3
967.4
981.0
980.7
970. 6
97?. 7
989. 5
981.3

1506.0
1523.1
1537.5
1543.2
1558.9
1571.7
1583.5
1602.4
1607.9
1601.7
1614.9
1633.5
16?5.3

WEEK ENDING:

1979-A°P.

'HY

J'JNE

6P
13P

r 3.71.0
368.4

r

590.9
588.9

r

903.4
902.6

r
r

989.3
937. 1

r

3 7 0.2
369.3

r
r

1/ IMCLUDES (1) DEMAND DEPOSITS AT ALL COMMERCIAL BANKS OTHER THAN THOSE DUE TO DOMESTIC COMMERCIAL BA'IKS AND TH^ U .S.GCVFRMMFNT,
LESS CASH ITEMS IN THE PROCESS OF COLLECTION AND F.R.FLOAT; (2) FOREIGN OEMANO BALANCES AT F.R.BANKS; AND (3) CU
URRENCY OUTSIDF
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 UMION SHARE D°AFT
ACCOUNTS, AND DEMAND DEPOSITS AT MUTUAL SAVINGS BANKS.
3/ INCLUDES, IN ADDITION TO CURRENCY AND DEMAND DEPOSITSt SAVINGS DEPOSITS, TIME DEPOSITS OPEN ACCOUNT, AND TIME C
MC ATFS nc
DEPOSITS OTHER THAN NEGOTIABLE TIME CERTIFICATES OF DEPOSIT ISSJED IN DENOMINATIONS OF $100,000 OR MORE pv I ARGF WEEKLY RFPORTING COMMERCIAL BANKS.
4/ INCLUDES M2, PLUS THE AVERAGE OF THE BEGINNING AND END OF MONTH DEPOSITS OF MUTUAL SAVINGS BANK, SAVINGS AND LllAN SHAPES, ANH
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 DEPOSIT ISSUED IN DENOMINATIONS OF $100,000 OP MORE.
P - PRELIMINARY; R - REVISED




Table 2

FEDERAL RESERVE Statistical RetotM H.6(508)

MONEY STOCK MEASURES
PERCENT CHANGE AT SEASONALLY ADJUSTED ANNUAL RATES
M-1

M-1+

M-2

M-3

M-4

M-5

Currency
Pius
Demand
Deposits^

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

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

M-2 Pius Deposits
at Nonbank Thrift
Institutions ly

M-2 Plus Large
Negotiable CD's §/

M-3 Plus Large
Negotiable CD's §/

(3 MONTHS PREVIOUS)

6.8

2.R

7.9

Date

MAY

FROM:

FEB.

1979

NOV.

1979

(6 MONTHS PREVIOUS)

2.3

-1.3

4.*

5.9

3.2

MAY

1978

( 1 2 MONTHS PREVIOUS)

4.0

1.4

6.8

8.1

6.7

FOUR WEEKS ENDING: JUNE
FROM COUR WEEKS ENDING:

7.2

7.9

1 3 , 1979

MAR.

1 4 , 1 9 7 9 ( 1 3 WEEKS PREVIOUS)

9.7

5.0

9.7

?..*

DEC.

1 3 , 1 9 7 8 ( 2 6 WEEKS PREVIOUS)

3.5

-0. 1

5.6

3.1

JUNE

1 4 , 1 9 7 8 ( 5 2 WEEKS PREVIOUS)

4.2

1.5

7.C

6.4

1/ INCLUDES (I) DEMAND DEPOSITS AT ALL COMMERCIAL BANKS OTHER THAN THOSF 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) CURPFNCY 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 THPIFT 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 TP'E CERTIFICATES OF
DEPOSITS OTHER THAN NEGOTIABLE TIME CERTIFICATES OF DEPOSIT ISSUED IN DENOMINATIONS OF $100,000 OR MORE BY LAPGE WEFKLY REPORTING COMMERCIAL BANKS.
4/ INCLUDES M2, PLUS THE AVERAGE OF THE BEGINNING AND END OF MONTH DEPOSITS OF MUTUAL SAVINGS BANKS, S W I N G S AND LOAN SHARES, AND
CREDIT UNION SHARES.
5/ INCLUDES M2, PLUS NEGOTIABLE TIME CERTIFICATES OF DEPOSIT ISSUED IN DENOMINATIONS OF U100,00C OP MORE.
6/ INCLUDES M3 , PLUS NEGOTIABLE TI^F CERTIFICATES OF DEPOSIT ISSUED IN DENOMINATIONS OF $100,000 OP MORE.
NOTE: ALL RATES OF CHANGE ARE BASED ON DAILY AVERAGE DATA; RATES OF CHANGE ARE NOT CPMDptJNDED.




n*L RESERVE StottoNeal M M N H.t

Table 3

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

Currency

Date

Demand
Deposits

Time Deposits
CD'sJ2/

Savings 3/

Total

Other

92.0
92.5
93.2
93.9
95.2
95.8
96.6
97.5
98.2
98.9
99.4
100.2
100.8

258.8
260.0
261.2
262.8
265.5
265.3
264.0
263.7
261.5
259.7
259.5
264.1
263.8

86.2
86.7
88.0
87.6
88.5
88.6
95.4
96.6
100.5
102.1
99.0
95.0
90.6

263.2
266.6
271.2
275.7
278.9
283.2
,288.8
291.5
294.6
299.5
302.8
307.9
312.9

222.8
223.5
222.9
224.1
226.0
225.9
224.3
223.0
220.8
218.6
217.7
217.7
216.4

572.2
576.8
582.1
537.4
593. «5
597.7
608.5
611.2
615. *
620.2
619.5
620.6
619.9

18
25

100.1
100.2

265.7
266.1

95.1
94.4

307.3
308.8

217.8
217.5

620.3
62 0 . 7

MAY

2
9
16
23
30

100.4
100.4
100.6
100.8
101.3

263.8
264.4
263.7
263.7
262.7

93.6
92.7
91.5
89^8
38.2

310.7
311.3
312.2
313.7
r 315.1

216.9
216.6
216.3
216.3
216.2

621.1
62 0.6
620.0
619.8
r 619.6

JUNE

6P
13P

101.4
101.2

269.6
267.2

85.9
84,4

315.4
316.6

217.0
217.6

618.3
618.7

1978—MAY
JUNE
JULY
AUG.

S60T.
OCT.
NOV.
DEC.
1979—JAN.
FEB.
MAR.
APR.
MAY P

Thrift
Institutions 4/

585.?
* > 9 0 . •?

595.9
601.5
60S. 5
614.6
619.5
624.4
628.7
633.0
638.0
641.1
642.9

WEEK ENDING:
1979-APR.

1/ TIME AND SAVINGS DEPOSITS AT ALL COMMERCIAL BANKS.
2/ INCLUDES NEGOTIABLE T tME CERTIFICATES OF DEPOSIT ISSUED IN DENOMINATIONS OF $100,000 OR MORE BY LARGE WEEKLY REPORTING COMMERCIAL BANKS.
3/ INCLUOiS NOW ACCOUNTS AT COMMERCIAL BANKS.
4/ AV6RA66 Of* BEGINNING AND END OF MONTH DEPOSITS AT MUTUAL SAVINGS BANKS* SAVINGS AND LOAN SHARES, AND CREDIT UNION SHARES.
P - PRELIMINARY; R - REVISED




RESERVE Statistical Raasrvs H.S(508)

Table 4

COMPONENTS OF MONEY STOCK MEASURES AND RELATED ITEMS
NOT SEASONALLY ADJUSTED, IN BILLIONS OF DOLLARS
Ttflttt) and Savings Deposit^
Currency

-

Tottf^

Member

91.9
92.8
93.9
94.2
94.9
95,6
97.3
99.1
97.4
97.6
98.6
99.9
100.7

253.6
259.0
262,3
259.9
263.6
265.3
265.3
272.2
268.0
254.2
255.1
267.5
258.6

172.7
175.8
177.9
176.2
178.3
179.4
178.4
183.0
179.3
169.6
170.4
178.5
171.8

18
25

100.4
99.2

273.4
267.9

2
9
16
23
30

99.2
101.2
100.8
100.4
100.6

6?
13P

101.9
102.1

1978—MAY
JUNE
JULY
AUG.
SEPT.
OCT.
NOV.
DEC.
1979—JAN.
FEB.
MAR.
APR.
HAY P

Domestic^
Nonmember

Time Deposits
Savings^

Total

Other
Checkable
Deposits

Nonbank
Thrift "
Institution*.'

U.S.
Gov't.
Demand^

CP's^/

Other

77.0
79.2
80.4
79.8
81.4
82.2
83.2
85.2
84.6
80.7
80.6
85.1
82.6

84.6
86.3
87.3
88.0
90.3
90.8
96.4
99.5
101.1
99.6
97.5
92.6
89.0

264.8
267.1
270.3
275.2
278.4
282.3
286.0
289.2
294.3
301.1
305.5
309.3
314.8

224.6
225.1
224.8
224.1
224.2
224.2
222.4
220.9
219.9
218.0
218.9
220.1
218.2

574.1
578.5
582.4
587.4
592.9
597.4
604.8
609.7
615.3
618.7
622.0
622,1
622,0

182.1
178.8

87.4
85.1

92.5
91.1

308.6
310.2

220.2
219.0

621.3
620,3

6,0
6,0

263.3
259.4
260.1
256,1
255.6

175.6
172.0
172.7
170.2
170.2

83.8
83.3
83.3
81.8
81.0

90,3
90.0
89.5
88.7
87.7

312.0
312.8
314.2
315.7
r 317.3

218.1
218.3
218.1
218.2
218.1

620,3
621.?
621.8
622.7
623,1

7,5
9.9
7.8
8.8
7.8

r 268.3
267.2

r 178.7
177.1

84.9
85.5

85.5
84.0

r 316.9
317.9

219.2
219.5

r 621.6
621.5

2.6
2.6
2.7
2.7
2.S
2.8
2,9
2.9
2.8
2.8
2.8
2.9
2.9

586.4
592.8
598.8
601.7
607.5
613.4
616.1
621.4
627.1
631.1
639.2
644.0
644.0

4.0
6.2
4.4
3.5
6.2
4.2
8.0

10.2
11.9
8,3
6.5
5.3
8,4

WEEK E N D I N G :
1979-APR.

MAY

JUNE

r

r

4.4
5.1

1/ TIME AND SAVINGS DEPOSITS AT ALL COMMERCIAL BANKS.
2/ TOTAL OEMAND DEPOSITS INCLUDE, IN ADDITION TO THE MEMBER AND DOMESTIC NONMEMBER DEPOSITS SHOWN, DEPOSITS DUE TO FOREIGN ANO
INTERNATIONAL INSTITUTIONS AT F.R.BANKS AND Ml TYPE BALANCES AT AGENCIES AND BRANCHES OF FOREIGN BANKS.
3/ BASED ON MOST RECENT CALL REPORT 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 ACCOUNTS, AND DEMAND DEPOSITS AT MUTUAL SAVINGS RANKS,
7/ AVERAGE OF BEGINNING AND END OF MONTH DEPOSITS AT MUTUAL SAVINGS BANKS, SAVINGS ANO LOAN SHARFS, AND CREDIT UNION SHARES.
8/ U.S. GOVERNMENT DEMAND DEPOSITS AT ALL COMMERCIAL BANKS. INCLUDES TREASURY NOTE BALANCES, BEGINNING NOVEMBER
P - PRELIMINARY; R - REVISED




Special Supplementary Table
Savings Deposits Authorized for Automatic Transfer
(ATS) and NOW Accounts in New York State at
Insured Commercial Banksl/
(amounts outstanding, millions of dollars)
2/
ATS Accounts-'

May

June

16

6155

1570

23

6295

1580

30

6310

1610

6750r

1720

6750

1795

6
13

1/
2/

9

NOW Accounts in New York State-

Excluding commercial banks in Massachusetts, New Hampshire, Connecticut, Rhode
Island, Maine and Vermont.
Estimates are based on data collected by the Federal Reserve and the FDIC from
a stratified random sample of 351 commercial banks.
r-revised




SPECIAL SUPPLEMENTARY TABLE*
Money Market CertificatesAll Insured Commercial Banks and All Mutual Savings Banks
As of April 25, 1979 and May 30, 1979

CommercialL
Banks2/

Mutual Savings
Banks3/

April 25

May 30

April 25

May 30

1
Amount outstanding-4/
(millions of dollars)

48,491

56,262

23,173

24,079

Number of institutions
offering

12,295

12,631

462

461

70.6

85.7

94-8

93.8

Per cent of offering
institutions paying the
ceiling rate during the
survey week

*
1/

_2/

3/
47

The survey collecting"these data has been conducted as of the last Wednesday
of each month since June 1978.
Money market certificates are nonnegotiable time deposits in denominations
of $10,000 or more with original maturities of exactly 26 weeks for which
the maximum permissible rate of interest on new deposits at commercial banks
is equal to the discount yield on the most recently issued six-month Treasury
bill (auction average). For MSBs the interest rate ceiling is one-quarter
per cent higher. This new category of deposits was authorized beginning on
June 1, 1978.
Estimates for all insured commercial banks in May are based on data
collected by the Federal Reserve and the FDIC from a stratified random
sample of about 530 banks.
Estimates for all mutual savings banks in May are based on data collected
by the FDIC from a stratified random sample of 95 banks.
For May 30, the standard error associated with the dollar estimates for
commercial banks is about $1.2 billion, and for mutual savings banks the
standard error is about $460 million. For April 25, the standard errors
for commercial banks and mutual savings banks are $1 billion and $445 million,
respectively.