View original document

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

FEDERAL RESERVE statistical release
For Immediate Release
H.6 (508)
MAR.

Table 1

2 0 , 1981

MONEY STOCK MEASURES AND LIQUID ASSETS
Billions of dollars, seasonally adjusted unless otherwise noted
M1-A
M1-B

Currency
plus demand
deposits1

Date

M1-Aplus
other checkable
deposits at banks
and thrift
institutions2

, _j
Overnight RPs
at commercial
banks plus
overnight
Eurodollars3

Money market
mutual fund
shares

NSA

NSA

M3
M2
MI-Bplus
M2 plus large
overnight RPs
time deposits
and Eurodollars,
MMMF shares, and and term RPs at
savings and small commercial banks
and thrift
time deposits at
institutions^
commercial banks
and thrift
institutions^

L

M3 plus other
liquid assets®

373.5
372.9

391.4
391.4

28.3
26.3

56.7

1547.6

1554.6

1805.4
1813.0

2188.5

60.9

APR.
HAY
JUNE

366,7
367.1
370.9

386.3
386.1
391.3

22.1
23.3
24.6

60.4
66.8
74.2

1550.4
1563.7
1587.6

1811.9
1825.7
1846.2

2213.3
2229.8
2242.7

JULY
AUG.
SEPT.

373.5
379.5
383.4

395.5
402.7
408.0

29.1
31.6
33.0

80.6
80.7
78.2

1612.5
1632.5
1644.4

1867.7
1889.5
1904.6

2258.2
2282.7
2306.5

OCT. P
NOV. P
DEC. P

386.3
388.4
384.8

412.0
415.0
411.9

32.5
32.6
32.1

77.4
77.0
75.8

1656.5
1670.8
1673.4

1921.8
1946.1
1957.9

2319.1
2346.5
2373.5

372.8 7/
366.0 7/

416.1 7 /
417.2 1/

32.6
31.8

80.7
92.4

1681.3
1692.1

1978.7
1993.2

P
P
P
P

367.0
365.9
366.8
364.6

415.2
416.6
418.3
416.6

31.9
29.7
30.7
33.4

86.9
89.8
92.2
95.7

4 P
11 P

365.7
365.7

419.7
421.8

35.7
34.1

98.0
101.2

1980-FEB.
MAR.

1981-JAN. P
PEB. P

2203.8

WEEK ENDING:

1981-FEB.

MAR.

1/
2/
3/
4/
5/
6/
7/

4
11
18
25

INCLUDES (1) DEMAND DEPOSITS AT ALL COMMERCIAL BANKS OTHER THAN THOSE DOE TO DOMESTIC BANKS, THE O.S.
GOVERNMENT AND FOREIGN BANKS AND OFFICIAL INSTITUTIONS LESS CASH ITEMS IN THE PROCESS OF COLLECTION AND
F.R. FLOAT; AND (2) CURRENCY OUTSIDE THE TREASURY, F.R. BANKS AND THE VAULTS OF COMMERCIAL BANKS.
H1-A PLUS NOW AND ATS ACCOUNTS AT BANKS AND THRIFT INSTITUTIONS, CREDIT UNION SHARE DRAFT ACCOUNTS AND
DEMAND DEPOSITS AT MUTUAL SAVINGS BANKS.
OVERNIGHT (AND CONTINUING CONTRACT) RPS ARE THOSE ISSUED BY COMMERCIAL BANKS TO THE NONBANK PUBLIC, AND
OVEBNIGHT EURODOLLARS ARE THOSE ISSUED BY CARIBBEAN BRANCHES OF MEMBER BANKS TO U.S. NONBANK CUSTOMERS.
SMALL DENOMINATION TIME DEPOSITS ARE THOSE ISSUED IN AMOUNTS OF LESS THAN $100,000. H2 WILL DIFFER FROM
THE SUM OF COMPONENTS PRESENTED IN SUBSEQUENT TABLES BY A CONSOLIDATION ADJUSTMENT THAT REPRESENTS THE
AMOUNT OF DEMAND DEPOSITS HELD BY THRIFT INSTITUTIONS AT COMMERCIAL BANKS.
LARGE DENOMINATION TIME DEPOSITS ARE THOSE ISSUED IN AMOUNTS OF $100,000 OR MORE AND ARE NET OF THE HOLDINGS
OF DOMESTIC BANKS, THRIFT INSTITUTIONS, THE U.S. GOVERNMENT, MONEY MARKET MUTUAL FUNDS AND FOREIGN BANKS AND
OFFICIAL INSTITUTIONS. TERM RPS ARE NET OF RPS HELD BY MONEY MARKET MUTUAL FUNDS.
OTHER LIQUID ASSETS INCLUDE THE NONBANK PUBLIC'S HOLDINGS OF U.S. SAVINGS BONDS, SHORT-TERM TREASURY
SECURITIES, COMMERCIAL PAPER, BANKERS ACCEPTANCES AND TERM EURODOLLARS NET OF MONEY MARKET MUTUAL FUND
HOLDINGS OF THESE ASSETS*
THE OBSERVED DATA FOR H1-A AND M1-B SINCE THE BEGINNING OF THE YEAR HAVE BEEN DISTORTED BY SHIFTS OF FUNDS
OUT OF DEMAND DEPOSITS AND OTHER ACCOUNTS INTO NOW ACCOUNTS, RESULTING FROM THEIR INTRODUCTION ON A NATIONWIDE BASIS. ADJUSTMENTS NEED TO BE MADE TO THE OBSERVED SERIES TO MEASURE THE UNDERLYING BEHAVIOR OF NARROW
MONEY SUPPLY, ABSTRACTING FROM SUCH SHIFTS. INFORMATION CURRENTLY AVAILABLE FROM A NUMBER OF SOURCES—SUCH
AS SAMPLES OF DEPOSITORY INSTITUTIONS AND HOUSEHOLDS—SUGGESTS THAT IN JANUARY AND FEBRUARY OF THIS YEAR
ABOUT 75 TO 80 PERCENT OF THE INCREASE IN OTHER CHECKABLE DEPOSITS IN EXCESS OF "TREND1* CAME FROM DEMAND
DEPOSITS AND THE REMAINING 20 TO 25 PERCENT FROM SAVINGS ACCOUNTS AND OTHER SOURCES. ON THE BASIS OF THE
ABOVE ESTIMATES, THE OBSERVED CHANGE IN Mi-B, FOR EXAMPLE, FROM THE DECEMBER AVERAGE TO THE JANUARY AVERAGE
WOULD APPEAR TO BE OVERSTATED BY $3.2 TO $4 BILLION AND BY SI.5 TO $1.9 BILLION FROM JANUARY TO FEBRUARY AS
A RESULT OF THE DISTORTING IMPACT OF THE SHIFTS. THESE ESTIMATES ARE SUBJECT TO REVISION AS MORE INFORMATION BECOMES AVAILABLE.

NOTE: P INDICATES PRELIMINARY DATA. SPECIAL CAUTION SHOULD BE TAKEN IN INTERPRETING WEEK-TO-WEEK CHANGES
IN MONEY SUPPLY DATA, WHICH ARE OFTEN HIGHLY VOLATILE AND SUBJECT TO REVISION IN SUBSEQUENT WEEKS AND
MONTHS. PRELIMINARY DATA ARE SUBJECT TO WEEKLY REVISIONS UNTIL THEY ARE FINAL.



H.6 (508)
Table 1A

MONEY STOCK MEASURES AND LIQUID ASSETS
Billions of dollars, not seasonally adjusted
M1-A

Currency
plus demand
deposits 1

Date

Addenda:

M1-B
MI-Aplus
other checkable
deposits at banks
and thrift
institutions2

Overnight RPs
at commercial
banks plus
overnight
Eurodollars3

Money market
mutual fund
shares

M3
M2
MI-Bplus
M2 plus large
overnight RPs
time deposits
and Eurodollars,
MMMF shares, and and term RPs at
savings and small commercial banks
and thrift
time deposits at
institutions5
commercial banks
and thrift
institutions^

L

M3 plus other
liquid assets6

1980-FEB.
MAR.

365.3
366.1

383.2
384.6

28.3
26,3

56.7
60.9

1539.6
1551.4

1797.5
1810.7

2185.9
2204.5

APF.
HAT
JUNE

370.0
361.5
369.7

389.6
380.5
390.2

22.1
23.3
24.6

60.4
66.8
74.2

1558.6
1560.8
1589.4

1818.1
1821.7
1845.6

2221.3
2224.1
2241.0

JULY
AUG.
SEPT.

375.5
377.3
382.6

397.5
400.5
407.2

29.1
31.6
33.0

80.6
80.7
78.2

1618.0
1629.5
1642.3

1870.8
1886.6
1902.3

2259.6
2278.6
2296.2

OCT. P
NOV. P
DEC. P

388.0
391.1
394.7

413.7
417.7
421.8

32.5
32.6
32.1

77.4
77.0
75.8

1656.9
1665.7
1674.8

1923.1
1942.1
1962.8

2318.0
2344.7
2375.0

1981-JAN. P
PEB. P

377.3
358.2

420.7
409.4

32.6
31.8

80.7
92.4

1684.8
1685.1

1984.0
1986.2

P
P
P
P

362.2
361.2
360.1
350.6

410.4
411.9
411.7
402.6

31.9
29.7
30.7
33.4

86.9
89.8
92.2
95.7

4P
11 P

358.8
361.2

412.9
417.3

35.7
34.1

98.0
101.2

WEEK ENDING:

1981-FEB.

MAR.

NOTE:

4
11
18
25

SEE TABLE 1 FOP FOOTNOTES.




H.6 (508)
Table 2

MONEY STOCK MEASURES AND LIQUID ASSETS
Percent change at seasonally adjusted annual rates

Date

FEB.

FROM:

NOV.

1980

(3 MONTHS PREVIOUS)

AUG.

1980

(6

FEB.

1980

(12

MAR.
FOUR WEEKS ENDING:
FROM FOUR WEEKS ENDING:

M1-B

Currency
plus demand
deposits1

Mt-Aplus
other checkable
deposits at banks
and thrift
institutions2

M2 plus large
time deposits
and term RPs at
commercial banks
and thrift
|
institutions^

5.1

9.7

-7.1

7.2

7.3

11.0

-2.0

6.6

9.3

10,4

PREVIOUS)

-22,5

4.6

PREVIOUS)

11,

1981

10,

1980

(13 WEEKS

SEPT.

10.

1980

(26

WEEKS PREVIOUS)

-8.0

7.1

MAR.

12,

1980

(52 WEEKS PREVIOUS)

-2.1

7.0

SEE TABLE 1 FOR FOOTNOTES.




M3

2.1

DEC.

NOTE:

M2
M1-Bplus
overnight RPs
and Eurodollars,
MMMF shares, and
savings and small
time deposits at
commercial banks
and thrift
institutions^

-23.1

MONTHS PREVIOUS)
MONTHS

M1-A

H.6 (508)
Table 3

COMPONENTS OF MONEY STOCK MEASURES AND LIQUID ASSETS
Billions of dollars, seasonally adjusted unless otherwise noted
1

Currency

Date

Demand
deposits 2

Other
checkable
deposits3

Overnight
RPs
(net) 4

Overnight
Eurodollar

NSA

NSA

NSA

Money
market
mutual
funds6
NSA

Savings deposits
at
at
thrift
commercial
institutions
banks

total

Small denomination time deposits?
at
at
commercial
thrift
total
banks
institutions

108.1
108.9

265.4
264.0

17.9
18.4

24.2
22.7

4.1
3.6

56.7
60.9

188.4
182.7

215.7
210.6

404.0
393.3

251.3
260.2

418.8
425.4

670.2
685.7

APR.
MAY
JUNE

109.0
110.2
111.0

257.7
256.9
259.9

19.5
19.0
20.4

19.4
20.5
21.7

2.7
2-8
2.9

60.4
66.8
74.2

176.3
175.6
180.6

203. 1
199.6
204.0

379.4
375.2
384.6

271.5
274.7
274.0

4 33.8
4 40.6
441.8

705.3
715.3
715.8

JULY
AUG.
SEPT.

112.1
113.5
113.9

261.4
266.0
269.5

22.0
23.2
24.6

25.5
27.9
29.2

3.6
3.7
3.7

80.6
80.7
78.2

186.5
190.6
192.0

211.5
217.5
220.1

398.0
408.1
412. 1

273.3
273.5
275.0

439,1
439. 1
441.4

712.4
712.6
716.4

OCT. P
NOV. P
DEC. P

115.1
115.8
116. 4

271.2
272.6
268.4

25.7
26.6
27.1

28.1
27.9
27.6

4.4
4.7
4.6

77.4
77.0
75.8

193.6
192.2
185.8

220.6
215.6
207.8

414.2
407.9
393.6

277.6
284.9
294.3

446.1
456.7
468.9

723.6
741.6
763.2

116.6
117.3

256.2
248.8

43.3
51.2

27.4
26.9

5.1
4.9

80.7
92.4

177.3
173.0

199.8
194.1

377.1
367.2

303.2
307.7

474.9
479-0

778.0
786.7

P
P
P
P

116.8
116.9
117.4
117.6

250.1
249.0
249.3
246.9

48.2
50.6
51.6
52.0

26.7
25. 1
25.5
28.5

5.2
4.6
5.2
4.9

86.9
89.8
92.2
95.7

174.2
173.7
173. 1
172.2

306.3
307.1
307.1
308.1

4 P
11 P

117.7
117.3

248.0
248.4

54.1
56.0

31.0
29.9

4.7
4.2

98.0
101.2

171.3
171.4

310.4
311.3

1980-FEB.
MAR.

1981-JAN.
FEB.

P
P

WEEK ENDING:

1981-FFB.

MAF.

1/
2/
3/
4/
5/
6/
7/

4
11
18
25

CUFF.ENCY OUTSIDE THE U.S. TREASURY, F.R. BANKS AND VAULTS OF COMMERCIAL BANKS.
DEMAND DEPOSITS AT COMMERCIAL BANKS AND FOREIGN RELATED INSTITUTIONS OTHER THAN THOSE DUE TO DOMESTIC BANKS, THE U.S. GOVERNMENT
AND FOREIGN BANKS AND OFFICIAL INSTITUTIONS LESS CASH ITEMS IN THE PROCESS OF COLLECTION AND F.R. FLOAT.
INCLUDES ATS AND NOW BALANCES AT ALL INSTITUTIONS, CREDIT UNION SHARE DRAFT BALANCES AND DEMAND DEPOSITS AT MUTUAL SAVINGS
BANKS.
INCLUDES OVERNIGHT AND CONTINUING CONTRACT RPS ISSUED TO THE NONBANK PUBLIC BY COMMERCIAL BANKS, NET OF AMOUNTS HELD BY MONEY
MARKET MUTUAL FUNDS.
ISSUED BY CAPIBBEAN BRANCHES OF U.S. MEMBER BANKS TO U.S. NONBANK CUSTOMERS.
TOTAL MONEY MARKET MUTUAL FUND SHARES OUTSTANDING.
SMALL DENOMINATION TIME DEPOSITS ARE THOSE ISSUED IN AMOUNTS OF LESS THAN $100,000.




H.6 (508)
Table 3—continued

COMPONENTS OF MONEY STOCK MEASURES AND LIQUID ASSETS
Billions of dollars, seasonally adjusted unless otherwise noted
Large denomination time deposits1
at commercial
Date
at thrift
banks2
total
institutions

at commercial
banks
NSA

Term RPs3
at thrift
institutions
NSA

total
NSA

Term
Eurodollars
(net)4
NSA

Savings
bonds

Short-term
Treasury
securities^

Bankers
acceptances6

Commercial
paper7

1980-FEB.
HAH.

193.9
195.4

33.5
34.1

227.4
229.5

23,7
22.2

6.6
6.7

30.3
28.9

49.5

78.1

49.2

76.8

129.3
137.2

26.9
27.9

99.3
99.8

APR.
MAY
JUNE

197.5
197.2
192.7

34.9
35.9
35.9

232.4
233.1
228.6

22.5
22.5
23.5

6.7
6.5
6.5

29.1
28.9
30.0

49.9
50.3
48.9

75.2
74.0
73.3

147.2
152. 1
148.7

28.5

28.3
29.1

100.6
99.5
96.5

JULY
AUG.
SEPT.

187.8
186.6
189.0

36.2
36.7
37.8

224.0
223.3
226.8

24.7
27.3
26.4

6.5
6.5
7.0

31.1
33.8
33.5

48.4
48.4
45.2

72.8
72.6
73.2

144.7

147.2
154.8

28.9
28.5
30.0

95.8
96.6
98.7

190.4
197.5

229.8
238.8
248.0

28.0
28.9
28.9

7.5
7.5
7.6

35.5
36.5
36.5

43.6
46. 1
49.1

74.6
72.9
72.8

149.1
149.7
158.7

31.0
32-5
34.2

99.0
99.2
100.9

258.8
263.3

31.1
30.5

7.5
7.3

38.6
37.8

OCT.
NOV.
DEC.

P
P
P

204.7

39.4
41.3
43.3

1981-JAN.
FEB.

P
P

214.2
217.9

44.6
45.4

WEEK

ENDING:

1981-FEB.

MAR.

1/
2/
3/
4/
5/
6/
7/

P
P
P
P

220.2
220.4
218.8
219.3

31.7
31.8
30.9
29.2

4 P
11 P

216. 1
213.3

28.0
28.8

4
11
18
25

LARGE DENOMINATION TIME DEPOSITS ARE THOSE ISSUED IN AMOUNTS OF $100,000 OR MORE.
LARGE DENOMINATION TIME DEPOSITS AT COMMERCIAL BANKS LESS LARGE TIME HELD BY MONEY MARKET MUTUAL FUNDS AND THRIFT INSTITUTIONS.
TERM RPS ARE THOSE WITH ORIGINAL MATURITY GREATER THAN ONE DAY AND EXCLUDE CONTINUING CONTRACTS.
TERM EURODOLLARS ARE THOSE WITH ORIGINAL MATURITY GREATER THAN ONE DAY NET OF TERM EURODOLLARS HELD BY MONEY MARKET MUTUAL
FUNDS.
INCLUDES U.S. TREASURY BILLS AND COUPONS WITH REMAINING MATURITY OF LESS THAN 18 MONTHS HELD BY THE NONBANK PUBLIC LESS SUCH
SECURITIES HELD BY MONEY MARKET MUTUAL FUNDS.
NET OF BANKERS ACCEPTANCES HELD BY ACCEPTING BANKS, F.R. BANKS, FOREIGN OFFICIAL INSTITUTIONS, THE FEDERAL HOME LOAN BANK
SYSTEM, AND MONEY MARKET MUTUAL FUNDS.
TOTAL COMMERCIAL PAPER LESS COMMERCIAL PAPER HELD BY MONEY MARKET MUTUAL FUNDS.




H.6 (508)
Table 3A

COMPONENTS OF MONEY STOCK MEASURES AND LIQUID ASSETS

1

Currency

Date

at member
banks2

Demand deposits
at foreignat domestic
related
nonmember
banking
banks3
offices
in the U.S.4

Other checkable deposits

total

at
commercial
banks5

at thrift
institutions6

total

Overnight
RPs(net)7

Money market
Overnight
Eurodollars8 mutual funds9

1980-FFB.
MAR.

106.8
107.9

165.4
164.9

86.6
86.5

6.5
6.7

258.5
258.2

13.6
13.9

4.3
4.6

17.9
18.4

24.2
22.7

4.1
3.6

56.7
60.9

APP.
MAY
JUNE

108.7
109.9
111.2

168.6
161.3
166.1

87.0
84.3
86.2

5.7
5.9
6.3

261.3
251.5
258.6

14.8
14.2
15.5

4.8
4.8
4.9

19.5
19.0
20.4

19.4
20.5
21.7

2.7
2.8
2.9

60.4
66.8
74.2

JULY
AUG.
SEPT.

112.7
113.7
113.7

167.9
169.2
173.1

87.9
88.3
89.9

6.9
6.1
5.9

262,7
263.6
268.9

16.9
18.0
18.9

5.1
5.2
5.6

22.0
23.2
24.6

25.5
27.9
29.2

3.6
3.7
3.7

80,6
80.7
78.2

OCT. P
NOV. P
DEC. P

114.9
116.6
118.5

175.7
175.7
177.2

91.5
92.7
92.7

5.9
6.1
6.2

273.1
274.5
276.2

19.8
20.6
21.0

5.9
6.0
6.1

25.7
26.6
27. 1

28.1
27.9
27.6

4.4
4.7
4.6

77.4
77.0
75.8

1981-JAN. P
FEB. P

115.8
115.9

166.1
151.3

89.6
85.2

5.9
5.7

261. 5
242.3

34.7
41.4

8.6
9.8

43.3
51.2

27.4
26.9

5.1
4.9

80.7
92.4

P
P
P
P

115.1
116.4
116.5
115.0

155.7
153.5
151.2
146.7

86.1
85.8
86.0
83.5

5.4
5.5
6.4
5.5

247. 1
244.8
243.6
235.6

38.8
40.9
41.6
42.0

9.4
9.7
10.0
9.9

48.2
50.6
51.6
52.0

26.7
25.1
25.5
28.5

5.2
4.6
5.2
4.9

86.9
89.8
92.2
95.7

4 P
11 P

116.0
117.3

151.5
152.5

85.1
85.7

6.1
5.6

242.8
243.9

43.9
45.6

10.2
10.4

54.1
56.0

31.0
29.9

4.7
4.2

98.0
101.2

WEEK ENDING:

1981-FEB.

MAP,

1/
2/
3/
4/
5/
6/
7/
8/
9/

4
11
18
25

CURRENCY OUTSIDE THE U.S. TREASURY, F.R. BANKS AND THE VAULTS OF COMMERCIAL BANKS.
DEMAND DEPOSITS OTHER THAN THOSE DUE TO DOMESTIC BANKS, THE U.S. GOVERNMENT AND FOREIGN BANKS AND OFFICIAL INSTITUTIONS LESS
CASH ITEMS IN THE PROCESS OF COLLECTION AND F.R. FLOAT AT MEMBER BANKS OF THE FEDERAL RESERVE SYSTEM.
DEMAND DEPOSITS OTHER THAN THOSE DUE TO DOMESTIC BANKS, THE U.S. GOVERNMENT AND FOREIGN BANKS AND OFFICIAL INSTITUTIONS LFSS
CASH ITEMS IN THE PROCESS OF COLLECTION AT NONMEMBER BANKS.
DEPOSITS AS DESCRIBED IN FOOTNOTE 3 AT AGENCIES AND BRANCHES OF FOREIGN BANKS, EDGE ACT CORPORATIONS AND FOREIGN INVESTMENT
COMPANIES.
NOW AND ATS ACCOUNTS AT BANKS.
NOW ACCOUNTS AT THRIFT INSTITUTIONS, CREDIT UNION SHARE DRAFT BALANCES AND DEMAND DEPOSITS AT MUTUAL SAVINGS BANKS.
INCLUDES OVERNIGHT AND CONTINUING CONTRACT RPS ISSUED TO THE NONBANK PUBLIC BY COMMERCIAL BANKS NET OF AMOUNTS HELD BY MONEY
MARKET MUTUAL FUNDS.
ISSUED BY CARIBBEAN BRANCHES OF U.S. MEMBER BANKS TO U.S. NONBANK CUSTOMERS.
TOT\I MONEY MARKET MUTUAL FUND SHARES OUTSTANDING.




H.6 (508)
Table 3A—continued

COMPONENTS OF MONEY STOCK MEASURES AND LIQUID ASSETS
Date

at commercial
banks

at savings
and loans

Savings deposits
at mutual
savings banks

at
credit unions

total

at commercial
banks

Small denomination time deposits1
at
at mutual
at savings
credit unions
savings banks
and loans

total

187.3
183.4

113.5
111.1

57.5
56.3

42.6
42.9

400.9
393.6

252.1
261.0

329.1
333.8

81.7
83.3

10.5
10.9

673.4
689.0

APR.
NAY
JUNE

178.0
176.7
181.2

106.8
104.8
108.3

54.3
53.2
54.2

42.7
42.2
43.2

381.8
376.9
386.9

271.8
275.8
275.4

339.3
341.7
341.7

85.6
86.9
87.1

11.2
12.0
12.4

707.9
716.4
716.6

JULY
AUG.
SEPT.

187.6
190.8
191.6

112.9
116.0
117.7

55.7
56.6
57.0

44.9
45.5
46.0

401.0
408.8
412.4

273.6
273.2
275.0

340.2
338.5
339.8

86.9
86.8
87.3

12.2
12.6
12.7

712.9
711.1
714.9

OCT. P
NOV. P
DEC. P

192.9
191.0
184.1

117.2
114.0
109.1

56.7
55.4
53.5

46.2
45.4
44.2

412.9
405.8
390.9

278.4
282.7
291.3

343.7
349.1
358.0

88.5
90.0
92.6

13.1
14.1
15.5

723.7
735.9
757.4

1981-JAN. P
FEB. P

176.5
172.1

103.7
100.4

51.6
50.0

43.0
41.8

374.7
364.4

302.6
308.7

365.3
368.1

94.9
96.2

16.5
17.4

779.3
790.4

1980-FEB.
MAR.

WEEK

ENDING:

1981-FEB.

MAR.

1/

P
P
P
P

173.0
172.8
172.2
171.3

306.3
307.7
308.3
310.0

4 P
11 P

170.7
171.4

311.7
312.5

4
11
18
25

SMALL DENOMINATION TIME DEPOSITS ARE THOSE ISSUED IN AMOUNTS OF LESS THAN $100,000.




H.6 (508)
Table 3A—continued

COMPONENTS OF MONEY STOCK MEASURES AND LIQUID ASSETS
Billions of dollars, not seasonally adjusted

Date

Large denomination time deposits'1
at
at mutual
at savings
commercial
total
savings
banks2
banks
and loans

Term RPs3
at
commercial
banks

at thrift
institutions

total

Term
Eurodollars
(net)4

Savings
bonds

Bankers
Commercial
Short-term
paper7
Treasury
acceptances^
securities^

194.9
197.0

29.9
30.6

2.8
2.8

227.6
230.4

23.7
22.2

6.6
6.7

30.3
28.9

49.5
49.2

78.2

132.6
139.0

28.2

76.8

28.9

100.0
99.8

APR.
MAY
JUNE

195.9
196.2
189.8

31.6
32.8
33.5

2.9
2.9
2.9

230.4
231.9

226.2

22.5
22.5
23.5

6.7
6.5
6.5

29.1
28.9
30.0

49.9
50.3
48.9

75.1
73.9
73.5

148.5
151.9
146.2

29.0
29.0
29.4

100.7
97.4
97.3

JULY
AUG.
SEPT.

184.6
185.4
187.7

34.1
35.0
^5.9

2.9
2.9
2.9

221.7
223.3
226.5

24.7
27.3
26.4

6.5
6.5
7.0

31.1
33.8
33.5

48.4
48.4
45.2

73.3
73.2
73.1

142.1
146.0
148.8

28.8
28.8
30.0

96.2
95.6
96.8

OCT. P
NOV. P
DEC. P

190.6
198.9

209.4

37.1
39.0
39.1

3.0
3.0
3.0

230.7
240.0
251.5

28.0
28.9
28.9

7.5
7.5
7.6

35.5
36.5
36.5

43.6
46. 1
49.1

73.0
72.9
72.7

149.4
152.0
158.1

30.8
31.3
31.4

98. 1
100.3
100.8

217.2
219.0

40.4
41.0

3.1
3.3

260.7
263.3

31.1
30.5

7.5
7.3

38.6
37.8

1980-FEB.
MAP.

1981-JAN.
FEB.

P
P

WEEK ENDING:

1981-FEB.

MAR.

1/
2/
3/
4/
5/
6/
7/

25 P

222.0
221.6
219.6
219.8

31.7
31.8
30.9
29.2

4 P
11 P

217.8
215.2

28.0
28.8

4 P
11 P
18 P

LARGE DENOMINATION TIME DEPOSITS ARE THOSE ISSOED IN AMOUNTS OF $100,000 OR HOPE.
LARGE DENOMINATION TIME DEPOSITS AT COMMERCIAL BANKS LESS LARGE TIME HELD BY MONEY MARKET MUTUAL FUNDS AND THRIFT
INSTITUTIONS.
TERM RPS ARE THOSE WITH ORIGINAL MATURITY GREATER THAN ONE DAY AND EXCLUDE CONTINUING CONTRACTS.
TERM EURODOLLARS ARE THOSE WITH ORIGINAL MATURITY GREATER THAN ONE DAY NET OF TERM EURODOLLARS HELD BY MONEY MARKET MUTUAL
FUNDS.
INCLUDES U.S. TREASURY BILLS AND COUPONS WITH REMAINING MATURITY OF LESS THAN 18 MONTHS HELD BY THE NONBANK PUBLIC LESS SUCH
SECURITIES HELD BY MONEY MARKET MUTUAL FUNDS.
NET OF BANKERS
ACCEPTANCES HELD BY ACCEPTING BANKS, F.R. BANKS, FOREIGN OFFICIAL INSTITUTIONS, THE FEDERAL HOME LOAN BANK
SYSTEM, AND MONEY MARKET MUTUAL FUNDS.
TOTAL COMMERCIAL PAPER LESS COMMERCIAL PAPER HELD BY MONEY MARKET MUTUAL FUNDS.




H.6 (508)
Table 4

MEMORANDA ITEMS
Billions of dollars, not seasonally adjusted
Demand deposits atbahks due to
foreign commercial
banks

Date

foreign official
institutions

Time and savings
deposits due to
foreign commercial
banks and foreign
official institutions

demand deposits at
Federal Reserve
commercial banks
Banks

U.S. government deposits
note balances at
commercial
banks and thrift
institutions

total demand
deposits and
note balances

time and
savings deposits at
commercial banks

1980-FEB.
NAB.

12.0
12,8

3.3
3.2

9.1
9.4

2.7
2.7

3.4
2.7

9.0
5.1

15.1
10.5

0.9
0.9

APR.
MAT
JONE

12.a
13.0
11.9

3.8
3.7
3.2

10.1
10.5
11. 1

3.6
2.6
3.2

2.6
2.8
2.9

5.4
5.9
6.8

11.7
11.3
13.0

0.9
0.9
0.8

JULY
AUG.
SEPT.

11.8
11-2
11.3

3.3
3.2
2.9

11.1
11.1
11.4

3.2
2.8
3.2

3.1
3.3
3.3

6.1
6.5
11.0

12.4
12.6
17.4

0.9

OCT. P
NOV. P
DEC. P

11.5
11.9
12.0

3.0
3.4
3.6

11.6
11.5
11.7

3.0
2.5
2.7

3.2
3.0
2.7

9.7
4.1
6.3

16.0
9.6
11.7

0.8

1981-JAN. P
FEB. P

11.3
12.2

3.4
3.5

11.6
11.5

2.8
2.7

3.2
3.3

5.1
5.4

11. 1
11.4

0.8
0.8

P
P
P
P

10.6
13.4
13.0
11.9

3.6
3.2
3.9
3.2

11.5
11.5
11.6
11.5

3.1
2.4
2.9
2.6

3.3
3.9
2.8
3.4

7.7
4.0
3.8
6.3

14.1
10.4
9.5
12.3

0.8
0.8
0.8
0.8

4 P
11 P

10.6
11.7

3.6
3.2

11.2
11.2

2.7
2,5

2.7
3.0

6.9
4.0

12.3
9.5

0.6
0.8

WEEK ENDING:
1981-FEB.

BAR.




4
11
18
25

Attachment to H.6
March 1981

MONEY STOCK SEASONAL FACTORS, 1981

Shown below are monthly and weekly seasonal adjustment factors
for the currency, demand deposit, and the commercial bank time and savings deposit components of the monetary aggregates for the second quarter
of 1981.

The factors presented here are based on data through 1979 and are

essentially the same as those employed last year.

These seasonal factors

will be used by the Board in compiling seasonally adjusted money stock measures until the annual revision of seasonal factors is completed and published,
which is presently anticipated for May 1981.

Monthly
April
May
June

Currency

Demand
deposits

Savings
deposits

Commercial Bank
Small
denomination
time deposits

.9970
.9980
1.0010

1.0140
.9790
.9950

1.0100
1.0070
1.0040

1.0010
1.0040
1.0050

.9920
.9950
.9850

Large
denomination
time deposits

Weekly
April

1
8
15
22
29

.9860
1.0080
1.0030
.9980
.9820

.9810
1.0140
1.0320
1.0250
.9920

1.0100
1.0160
1.0140
1.0080
1.0040

1.0010
1.0000
1.0000
1.0010
1.0040

1.0070
1.0000
.9920
.9870
.9870

May

6
13
20
27

.9980
1.0040
.9980
.9900

.9900
.9810
.9760
.9650

1.0050
1.0080
1.0080
1.0080

1.0030
1.0040
1.0040
1.0040

.9880
.9920
.9970
1.0000

June

3
10
17
24

.9990
1.0110
1.0030
.9970

.9870
1.0010
1.0060
.9820

1.0070
1.0060
1.0040
1.0020

1.0060
1.0060
1.0060
1.0040

.9960
.9890
.9840
.9800

July

1

.9950

.9970

1.0040

1.0040

.9830




SPECIAL SUPPLEMENTARY TABLE
Variable Ceiling Time Deposits at
All Insured Commercial Banks and All Mutual Savings Banks
December 31, 1980, January 28, 1981, and February 25, 1981
(Not seasonally adjusted)^

Insured Commercial Banks
December 31
January 28
February 25

Mutual Savings Banks
December 31
January 28
February 25

Amount outstanding
(millions of dollars):

2/
6-month money market certificates
(Standard error of the estimate)
2-1/2 year and over variable
ceiling certificates 37
(Standard error of the estimate)

177,619
(1837)

188,382
(1800)

192,718
(2054)

49,446
(530)

49,825
(647)

51,493
(499)

32,012
(838)

31,991
(821)

33,866
(855)

11,770
(349)

12,918
(516)

13,014
(335)

14,236

14,213

14,298

462

461

462

14,236

14,213

14,298

462

461

462

88 .8

89.3

94 . 0

98.7

90. 7

88.3

93 .8

96.0

95 .5

94.2

97. 5

98.5

Number of institution offering;

2/
6-month money market certificates
2-1/2 year and over variable
ceiling certificates

Percent of offering institutions
paying the ceiling rate during the
survey period:
6-month money market certificates
2-1/2 year and over variable ceiling
certificates

1/ Estimates for February are based on data collected by the Federal Reserve and the FDIC from a stratified random
sample of 521 commercial banks and 90 mutual savings banks.
2/ Money market certificates (MMCs) are nonegotiable 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 is related to
the discount yield on the most recently issued six-month Treasury bill (auction average). See Table 1.16 in the
Federal Reserve Bulletin for specific ceiling rates.
3/ This category includes all 4-year and over variable ceiling accounts having no legal minimum denomination issued
between July 1 and December 31, 1979 and all such 2-1/2 year and over variable ceiling accounts issued since
January 1, 1980. See Table 1.16 in the Bulletin for specific ceiling rates.