Full text of H.6 Money Stock Measures : June 29, 1978

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FEDERAL

RESERVE

FEDEHAL RESERVE Statistical Rtltas* H.6

statistical

release

Table 1

Far immediate Release

MONEY STOCK MEASURES

JUNE 29. 1976

IN BILLIONS OF DOLLARS

M!
Date

M2

M4

*3

*5

M, Plus Time
M2Plus
M2Plus
Currency Deposits at Deposits
M3Plus
at
Large
Large
Commercial Nonbank
Plus
Banks
Demand
Negotiable Negotiable
Thrift
Deposits^ Other Than
CD's5/
CD'si/
Large CD's 2/ Institutions^

*1

M2

"3

M4

M I Plus Time
M2Plus
M2Plus
Currency Deposits at Deposits at
Large
C o m m e r c i a l Nonbank
Plus
Banks
Negotiable
Demand
CD's*/
Deposits^/ Other Than Institutions^
Large CD's 3f

M

5

M3P!us
Large
Negotiable
CD's#

Not Seasonally Adjusted

Seasonally Adjusted

OEC.

322.4
324.3
327.5
329.2
331.6
334.7
334.9
337.2

768.4
774.2
782.9
787.9
793.6
800.3
804.2
608.4

129O.9
1302.0
1317.2
1330.0
13*3.5
1356.8
1366.0
1375.0

831.3
837.5
645. b
651.1
857.6
666.7
875.1
882.4

1353.6
1365.3
1380.0
1393*2
1407.4
1423.2
1436.9
1449.0

317.4
3*3.3
329.1
326.9
329.8
334.1
337.1
3*6.9

766. V
775.5
7b5.2
785.5
790.0
797.6
t>01.7
613.6

1291.^
1306.9
1323.5
1326.0
133b.*
1351.9
1:»5V.O
137o.3

b28.0
636.5
6*8.0
64V. 9
855.4
665.9
673.3
889.7

1352.3
1369.9
1386.3
1392.4
1403.8
1420.2
1430.6
1452.3

1970— JAN.
FEB.
MAR.
APR.
MAY

340*1
339.9
340. 9
346*3
r 346.6

614.8
818.0
621.8
829.7
V 835.1

1365.4
1392.0
1399.5
1410.9
r 1419.6

891.1
697.4
903.9
913.2
r 922.1

1461.7
1471.3
1461.5
1494.3
r 1506.7

345*9
334.1
*36. 2
348.7
r 343.3

619.4
t»12.8
620.4
636.0
r 633.5

1367.6
138*. *
1399.5
r 1420.7
r 1420.1

895.6
889.7
900.6
917.4
r 918.2

1464.2
1461.6
1479.7
150^.0
r 150*. b

346.5

633.6

1977 —MAY
JUNk
JULY
AUG*
SEPT.
OCT.
NOV.

MEEK END ING 1

831.5

915.9

351.5
347.3
347.3
r 347.4
r 351.5

835.6
632.4
633.8
r 634.7
r 840.3

921.4
919.1
920.7
r 922.3
r 928.1

348.6
r 343.2
i43.7
r 338.9
r 345.0

635.9
r 831.8
833.7
r 630.0
r 637.6

916.3
r 915.3
916.0
r V1J>.5
r 923.8

r 351.7
r 351.3
349.4

r 841.0
r 840.9
839.7

r 926.4
r 928.2
92S.9

r 350.4
r 352.0
349.1

r 843.1
t 645.0
641.1

r 929.5

1978-APR.

26

347. 5

NAY

3
10
17
*4
31

JUNE

7
14 P
21 P

V14.9

r 931.5
926.7

I/ 1NCIUQCS Ul OEMANO DEPOSITS AT ALt COMHfeKClAL SANK* OTHtR THAN THOSE OUfc 10 DOMESTIC COMMERCIAL BANKS AND THfc U.S.GOVERNMENTf
LESS CASH IU«S IN THE PROCESS OF COLLECTION AND F.R.FLOAT* 12) FOfUclGN DEMAND BALANCES AT f.K.BANKS; AND (3) CURRENCY OUTSIDE
THE TREASURY* F.R.BANKS AND VAULTS OF ALL COMMERCIAL BANKS.
2/ INCLUDES, IN AUDITION TO CURRENCY AND OEHAND DEPUSlTSt 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 MOKE BY LARGE WEEKLY REPORT*
INt COMMERCIAL BANKS.
3/ 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.
4/ INCLUDES *2t PLUS NEGOTIABLE TlMt CERTIFICATES OF DEPOSIT ISSUED IN DENOMINATIONS OF $100,000 OR MQRt.
5/ INCLUDES M3* PLUS NEGOTIABLE TIME CERTIFICATES OF DEPOSIT ISSUED IN DENOMINATIONS OF $100,000 OR MQRE.

p ~ PRELIMINARY;
NOTE:

R - REVISED

DATA SINCE TH£ WEEK OF MAY 10 HAVE BEEN REVISED TO REFLECT ERROR IN PROCESSING OF CASH ITEMS ADJUSTMENT.




FEDERAL RESERVE Statistical RtJaata N.6
Tabla 2

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

M2
"l

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

DATE

IAY

FROM!

:

EB.

1976

(3 MONTHS PREVIOUS 1

10V.

1977

(6 MONTHS PREVIOUS)

IAY

1977

(12 MONTHS PREVIOUS)

OUR WEEKS ENDINGS JUNE 21,
FROM FOUR WEEKS ENDING:

"3
M2 Plus Deposits
at Nonbank Thrift
Institutions^/

M4

M2 Plus Large
Negotiable CD's 57

»5
Ma Plus Large 5/
Negotiable CD's 3 '

8.4

7.9

11.0

9.6

6.2

7.7

7.6

10.7

9.7

6.1

8.7

10.2

10.0

10.9

11.3

1978

IAR.

22, 1978(13 WEEKS PREVIOUS)

EC.

21 t 1977(26 WEEKS PREVIOUS)

UNE

22 » 1977(52 WEEKS PREVIOUS)

9.7

11.3

6.7

8.3

10.6

6.*

8.7

10.9

12.6

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; U > FURfclGN DEMAND BALANCES AT F.K.BANKS; AND (3) CURRENCY OUTSIDE
THE T E A S U R Y * 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,OOO OR MORE 6Y LARGE WEEKLY REPORTING COMMERCIAL BANKS.
3/ INCLUDES M2 f PLUS THE AVERAGE OF THE BEGINNING AND END OF MONTH DEPOSITS OF MUTUAL SAVINGS BANKS t SAVINGS AND LOAN SHARES, AND
CREDIT UNION SHARES.
4S INCLUDES M2, PLUS NEGOTIABLE TIME CERTIFICATES OF DEPOSIT ISSUED IN DENOMINATIONS OF SI00,000 OR MORE.
5/ INCLUDES H3, PLUS NEGOTIABLE TIME CERTIFICATES OF DEPOSIT ISSUED IN DENOMINATIONS OF S10O,OOO OR MORE.
NOTE I ALL RATES OF CHANGE ARE BASED ON DAILY AVERAGE DATA} RATES OF CHANGE ARE NOT COMPOUNDED.




FEDERAL RESERVE Statistical Release H 6

Table 3

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

N on bank
Thrift Institutions-2'

87.7
88.6

238.6
240.1
242.3
243.7
245.3
247.6
247.2
248.6

62.9
63.3
62.8
63.2
63.6
66.4
70.9
74.0

446.0
449.9
455.5
458.7
462.1
465.6
469.3
471.2

506.9
513.2
518.3
521.9
525.9
531.9
540.2
545.2

522.4
527.6
534.3
542.1
549.8
556.5
561.7
566.6

89.4
90.1
90.7
91.3
94.2

250.7
249.8
250.2
255.1
r £56.4

76.3
79.4
82.0
83.*
87.1

474.7
478.1
480.9
483.4
486.5

551.0
557.5
562.9
566.6
573.6

570.7
574.0
577.7
581.2
564.6

26

91.5

256.0

84.4

484.0

568.4

3

91.9
92.0
92.2
92.3
92.6

259.6
r 255.2
255.1
r 255.0
r 256.9

65.8
86.7
B6.9
*7.6

484.1
465.1
466.5
467.3
488.6

569.9
571.6
573.3
574.9
576.6

92.9

r 25B.9
r 25B.5
256.4

87.4
B7.4

469.3
469.6
490.3

576.7
577.0
576.S

1977 —HAY
JUNE
JULY
AUG.
SEPT.
OCT.
NOV.
DEC.

83.8
84.2
85.1
85.5
66.3

1976 — JAN.
FEB.
MAR.
APR.
MAY

ft7.1

MEEK ENDING:
1978-APR.

HAY

10
17
24
31
JUNE

7
14 P
21 P

92. b
92.9

87. 8

86. 2

I/ INCLUDES NEGOTIABLE TIME CERTIFICATES OF DEPOSIT ISSUED IN DENOMINATIONS OF $100*000 OR MORE BY LARGE WEEKLY REPORTING COMMERCIAL BANKS.
2/ AVERAGE UF BEGINNING AND END OF MONTH DEPOSITS AT MUTUAL SAVINGS BANKS* SAVINGS AND LOAN SHARES, AND CREDIT UNION SHARED.

p - PRELIMINARY;

MOTE:

R - REVISED

DATA SINCE THE WEEK OF NAY 10 HAVE BEEN REVISED TO REFLECT ERROR IN PROCESSING OF CASH ITEMS ADJUSTMENT.




FEDERAL RESERVE Statistical Release H.6

Table 4

COMPONENTS OF MONEY STOCK MEASURES AND RELATED ITEMS
NOT SEASONABLY ADJUSTED. IN BILLIONS OF DOLLARS

Demand Deposits
Date

Currency
Total

17

Member

Time and Savings Deposit

Domestic
Nonmember^

CD's^

Other

Total

Nonbank
Thrift
Institutions4/

U.S. Gov't.
Demand-5/

233.6
23V.O
243.3
2*1.0
243.6
247.1
24d.7
256.8

161.7
165.1
167.7
166.3
167.5
170.0
170.3
176.3

70. *
71.4
70.8
71.8
72.8
7^.1
76.2

61.2
63.0
6^.0
64.5
65.4
68.3
71.6
75.9

449.5
4!>2.2
456.1
458.6
460.2
463.5
464*5
466.9

510.7
515.2
518.8
523.0
525.7
531.9
536.1
542. tt

524.3
331.4
536.3
542.5
546.4
554.2
557.3
562.5

3.6
5.0
3.6
3.4
5.0
3.7
3.5
5.1

89. 0
90.0
91.1
92.0

257.2
245.0
^46-2
2!>7,6
r 251.3

175. b
167.,:}
166.4
175.7
r 171.*

76.9
73.6
73.8
77.8
76.2

76.4
76.9
80.2
81.4
64.6

473.5
47to.b
<«8<».2
487.3
490.3

549.9
555.7
564.4
568.7
574.9

568.4
572.1
579.1
584.6
5B6.6

4.3
4.3
4.7
4.9
3.9

26

90.5

256.0

174.5

77.7

81.3

467.1

566.4

5.8

3

91.1
92.6
92.2
9Ub
92.1

257.5
250.7
251.5
r 247.1
r 252.9

175.7
170.0
170.7
r 168.5
r 173.6

77.4
76.8
76.9
75.1
75.2

82.4
b3.5
84.3
65.5
66.3

487.3
488.6
490.1
491.1
492.6

569.7
572.1
574.3
576.6
578.9

5.1
3.5
3.2
4.6
3.8

r
r

r
r

7tt.6
79.2
78.8

86.4
86.5
65.6

492.7
493.0
492.0

579.1
579.5
577.6

L977 — HAY
JUNE
JULY
AUG.
SEPT.
OCT.
NOV.
DfcC.

83.5
84.3
85.6
85.9
86.2
t»6.9
88.4
90.1

1978 — JAN.
FEB.
MAR.
APR.

ttb.7

MAY

68.4

WEEK ENDING:
1978-APR.
MAY

10
IV
24
31

JUNE

7
14 P
*1 P

93.3
r 93.3
92.9

257.0
258.7
256.2

174.3
175.6
173,4

r

3.3
2.9
11.7

I/ TOTAL DEPOSITS iNCLUOEt IN ADDITION TO THE MEMBER AND DOMESTIC NONMEMBER DEPOSITS SHOWN, DEPOSITS DUE TO FOREIGN AND
INTERNATIONAL INSTITUTIONS AT F.R.BANKS AND HI TYPt BALANCES 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.
V AVERAGE OF BEGINNING AND END OF MONTH DEPOSITS AT MUTUAL SAVINGS BANKS, SAVINGS AND LOAN SHARES, AND CREDIT UNION SHARES.
V U.S.GOVERNMENT DEMAND DEPOSITS AT ALL COMMERCIAL BANKS.
P - PRELIMINARY; R - R f c V l S E D
NOTE:

DATA SINCE THE WEEK OF MAY 10 HAVE BEEN REVISED TO REFLECT ERROR IN PROCESSING OF CASH ITEMS ADJUSTMENT.




SPECIAL SUPPLEMENTARY TABLE *
Money Market Time DepositsAll Insured Commercial Banks and All Mutual Savings Banks
As of June 79 1978

Commercial
Banks?/

Mutual Savings
Banks^.'

Amount outstanding
(millions of dollars)

780

793

Number of institutions
offering

6500

210

94

97

Per cent of deposits at
institutions paying the
maximum allowable interest
rate */

I/ Money market time deposits are nonnegotiable time deposits in
denomination 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
bills (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.
27 Estimates for all insured commercial banks are based on data collected
by the Federal Reserve and the FDIC from a stratified random
sample of 522 banks.
3/ Estimates fot all mutual savings banks are based on data collected
by the National Association of Mutual Savings Banks from 382 savings
banks and from data collected by the FDIC from a stratified random
sample of 96 MSBs.
4/ Maximum permissible rate is defined in footnote 1. In determining
per cent of institutions paying maximum rate, no allowance is made
for compounding.
*
The surveys collecting these data will be conducted hereafter as of
the last Wednesday of each month from June through December 1978.