Full text of H.6 Money Stock Measures : May 25, 1978

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•i2isa&.

FEDERAL

RESERVE

FEDERAL RESERVE Statistical Releas^H 6

statistical

release

Table 1

For Immediate Release

MONEY STOCK MEASURES

MAY

25, 1978

IN BILLIONS OF DOLLARS
M4
M2
*3
M] Plus Time
M 2 Pius
M2Plus
Currency Deposits at
Deposits at
Plus
Commercial Nonbank
Large
Demand
Banks
Negotiable
Thrift
Deposits-1/ Other Than
CD's*/
Large CD's2/ Institutions^
*l

Date

*5
M 3 P!us
Large
Negotiable
CD's^/

M2
M4
*3
MI Plus Time
M 2 Plus
M2Plus
Currency Deposits at Deposits at
Large
Commercial Nonbank
Plus
Banks
Negotiable
Demand
Thrift
CD's*/
Depositsi/ Other Than Institutions^
Large CD's^
M!

*5
M 3 Plus
Large
Negotiable
CD's-a/

Not Seasonally Adjusted

Seasonally Adjusted

324.1
317.4
323.3
329.1
326.9
329.8
334.0
336.8
346.4

770.6
766.9
775.5
785.2
785.5
790.0
797.5
801.2
813.0

1291. 0
1291.2
1306.9
1323.5
1328.0
1336.4
1351.7
1358.5
1375.5

830.7
828.0
838.5
846.0
649.9
655.4
665.6
872.8
666.9

1351.1
1352.3
1369.9
1366.3
1392.4
1403.6
1420.0
1430.1
1451.5

345.2
333.3
335.4
347.9

818.3
811.4
818.7
834.2

1386.6
1383.5
1397.6
r 1418.6

694.6
866.3
699.0
915.6

1463.0
1460.4
r 1478.1
r 1500.2

903.6
904.2

335.1
332.9

818.9
817.4

823.7
r 825.8
827.8
629.5

905.8
r 908.3
910.9
914.0

344.1
r 348.9
351.1
345.5

830.8
r 835.6
837.3
831.6

r 833.6
r 830.2
631.7

r

919.4
917.0
918.6

347.6
r 342.3
342.6

r 833.8
r 829.7
831.7

1977— APR.
MAY
JUNt
JULY
AUG.
SEPT.
OCT.
NOV.
DEC.

322.0
322.4
3^4.3
327.5
329.2
331.6
334.6
334.7
336.7

764.9
768.4
774.2
782.9
787.9
793.8
800.2
803.8
807.6

1232.2
1290.9
1302.0
1317.2
1330.0
1343.5
1356.7
1365.5
1374.2

197tt — JAN.
FEB.
MAR.
APR.

339.4
339.1
340.1
345.5

813.6
816.6
820.2
r 827.9

1384.3
1390.6
1397.6
r 1409.1

1978-MAR. 22
29

340.7
341.3

821.6
821.9

5
12
19
26

341.8
r 343.8
344.8
346.*

3
10 P
1? P

350.5
r 346.3
346.2

831.3
837.5
845.8
851.1
857.6
866.5
874.6
881.6

1343.8
1353.8
1365.3
1380 .O
1393.2
1407.4
1423.0
1436.4
1448.2

889.9
896.0
902.2
911.4

1460.6
1469.9
1479.9
r 1492.5

826. 5

WEEK ENDING:

APR.

MAY

899.5
699.1

r

912.4
916.6
918.2
912.9
916.3
913.2
915.9

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 GF COLLECTION AND F.R.FLOAT* (2) FOREIGN DEMAND BALANCES AT P.R.BANKS} AND (31 CURRENCY OUTSIDE
THE TREASURY, F.R.BANKS AND V A U L l S OF ALL COMMERCIAL BANKS.
t/ INCLUDES, IN ADDITION TO CURRENCY AND DEMAND DEPOSITS* SAVINGS DEPOSITS* TIME DEPOSITS OPEN ACCOUNT* AND TIME CERTIFICATES OF
DEPOSITS OTHER THAN NEGOTIABLE T I M E CERTIFICATES OF DEPOSIT ISSUED IN DENOMINATIONS OF $100,000 OR MORE BY LARGfc WEEKLY REPORTING COMMERCIAL BANKS.
3/ INCLUDES M 2 V PLUS THE A V E R A G E OF THE BEGINNING AND END OF MONTH DEPOSITS OF MUTUAL SAVINGS BANK* SAVINGS AND LOAN SHARES* AND
CREDIT UNION SHARES.
4/ INCLUDES M2, PLUS NEGOTIABLE TIME CERTIFICATES OF DEPOSIT ISSUfcD IN DENOMINATIONS OF $100*000 OR MORE.
5/ INCLUDES M3* PLUS NEGOTIABLE TIME CERTIFICATES OF DEPOSIT ISSUED IN DENOMINATIONS OF $100*000 OR MORE.

p - PRELIMINARY;




K - REVISED

FEDERAL RESERVE Statistical Release H.6

Table 2

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

M
DATE

i

Currency Plus
Demand Deposits-^/

M2

M3

Mi Plus Time
Deposits at
Commercial
Banks Other Than
Large CD's- 2 /

M2 Plus Deposits
at Nonbank Thrift
Institutions^/

M4

M2 Plus Large 4
Negotiable CD's- 7

k.

FROM:

N.

1976

(3 MONTHS PREVIOUS)

7.2

7.0

7.2

T.

1977

(6 MONTHS PREVIOUS)

6.5

6.9

7.7

10.4

>k.

1977

(12 MONTHS PREVIOUS)

7.3

B.2

9.9

10.3

9.7

M

5

M 3 Plus Large
Negotiable CD's"7

8.7
9.8
11.1

)UR WEEKS ENDING: MAY
17, 1978
•ROM HOUR WEEKS ENDING:
•b.

15,

1976(13 WEEKS PREVIOUS)

9.5

7.8

10.7
10.6
10.6

W.

16,

1977(26 WEEKS PREVIOUS)

7.7

7.3

kY

18,

1977(52 WEEKS PREVIOUS)

7.8

8.4

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; 12) FOREIGN DEMAND BALANCES AT F.R.BANKS; AND (3) CURRENCY OUTSIDE
THE TEASURYf 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 TIMt CERTIFICATES OF DEPOSIT ISSUED IN DENOMINATIONS OF $100,000 OR MORE BY LARGE WEEKLY REPORTING C O M M E R C I A L BANKS.
3/ INCLUDES M2, PLUS THE A V E R A G E OF THE BEGINNING AND END OF MONTH DEPOSITS OF MUTUAL SAVINGS BANKS, SAVINGS AND LOAN SHARES, AND
CREDIT UNION SHARES.
4/ INCLUDES M2, PLUS NEGOTIABLE TIME CERTIFICATES OF DEPOSIT ISSUED IN DENOMINATIONS OF $100,000 OR MORE.
5/ INCLUDES M3, PLUS NEGOTIABLE TIME CERTIFICATES OF DEPOSIT ISSUED IN DENOMINATIONS OF $100,000 OR MORE.
NOTE: 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^

1977— APR.

83.1
63. b
64.2
85.1
85.5
86.3
67.1
67.7
88.5

MAY

JUNE
JULY
AUG.
SEPT.
OCT.
NOV.
DEC.
1978 — JAN.
FEB.
MAR.
APR.

89.3
90.0
90.6
91.2

Other

Total

238.9
238.6
2*0.1
242.3
2*3.7
245.3
2*7.5
2*7.0
2*8.2

61.6
62.9
63.3
62.8
63.2
63.6
66.*
70.9
7*.0

**2.9
**6.0
4*9.9
*55.5
*58.7
*62.1
*65.5
*69.1
*70.9

504.5
508.9
513.2
518.3
521.9
525.9
531.9
5*0.0
5**. 9

250.1
2*9.1
2*9.5
r 25*. 3

76.3
79.*
82.0
83.*

*7*.2
477.5
480.1
482.4

550.5
556.8
562.1
565.9

82.0
82.3

480.9
460.6

562.9
562.8

82.1
62.3
83.2

481.9
461.9
482.9
483.0

56* .0
56*.*
566.1
567.*

463.1
r 484.0
485.5

r 568.8
570.7
572.3

Nonbank
Thrift Institutions 2 '

517.3
522.*
527.8
53*. 3
5*2.1
5*9. d
556.5
561.7
566.6
570.7
57*. 0
r 577.7
r 581.1

WEEK ENDING:
1978-MAR.

22
29

APR.

MAY

5

90.9
91.0

2*9.8
250.3

12
19
26

90.9
90.6
91.1
91.*

250.9
r 253.0
253.7
255.1

3
10 P
17 P

91.8
91.9
92.1

258.7
r 25*.*
25*. 1

8*.*
85.8
r 86.7
86.9

I/ INCLUDES N E G O T I A B L E TIME C E R T I F I C A T E S DP DEPOSIT ISSUED IN DENOMINATIONS OF $100,000 OR MORE BY LARGE MEEKLY REPORTING C O M M E R C I A L BANKS.
2/ A V E R A G E OF BEGINNING AND END OF MONTH DEPOSITS AT M U T U A L SAVINGS BANKS, SAVINGS AND LOAN SHARES, AND CREDIT UNION SHARES.
P - PRELIMINARY; R - REVISED




FEDERAL RESERVE Statistical Release H.6

Table 4

COMPONENTS OF MONEY STOCK MEASURES AND RELATED ITEMS
NOT SEASONALLY ADJUSTED, IN BILLIONS OF DOLLARS
Demand Deposits
Date

Currency

1977— APR.
MAY
JUNE
JULY
AUG.

Total^

NOV.
DFC.

82.9
83.5
84.3
85.8
85.9
86.2
86.9
88.4
90.0

241.3
233.8
239.0
243.3
241.0
243.6
247.0
248*4
256.4

1978 — JAN.
FfcB.
MAR,
APR.

88.6
68.9
89.9
91.0

256.6
244.4
245.5
256.9

22
29

90.1
89.7

245.0
243.3

5
12
19
26

90.7
91.5
91.1
90.4

253.4
r 257.3
260.0
255.1

3
10 P
17 P

91.0
92.5
92.1

r 256.6
r 249.8
250.5

SEPTPC^

Member

Time and Savings Deposit

Domestic
Non member^

167.6
161.7
165.1
167.7
166.3
167.5
170.0
170.3
176.3

CD's2/

Other

Total

Nonbank
Thrift
Institutions4/

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

70.0
68.4
70.2
71.4
70.8
71.8
72.7
73.8
75.8

60.1
61.2
63.0
62.8
64.5
65.4
68.3
71.6
75.9

446.5
449.5
452.2
456.1
456.6
460.2
463.5
464.4
466.6

506.5
510.7
515.2
518.8
523.0
525.7
531.8
536.0
542.5

520.4
524.3
531.4
538.3
542.5
548.4
554.2
557.3
562.5

5.4
3.6
5.0
3.6
3.4
5.0
3.7
3.5
5.1

76.3
72.8
73.0
76.9

76.4
76.9
80.2
81.4

473.0
476.1
483.4
486.3

549.4
555.0
563.6
567.7

568.4
572.1
579.1
r 584.6

4.2
4.2
4.6
4.8

168.0
167.4

72.8
72.2

80.5
61.7

483.8
464.4

564.4
566.1

6.9
3.8

174.3
175.9
177.7
174.5

74.9
77.5
78.2
76.8

81.6
60.9
81.3

486.7
486.7
486.2
486.1

568.3
567.7
567.1
567.4

3.6
3.3
6.2
5.7

76.4
75.9
75.9

82.4
83.5
84.3

r 486.2
r 487.5
489.1

r 568.6
571.0
573.3

5.1
3.5
3.2

175.9
167.4
168.5
r 175.8

MtfcK ENDING:
197&-MAR.

APR,

MAY

r

175.8

r 170.1
170.7

r

81. 0

I/ TOTAL DEPOSITS INCLUDE* IN ADDITION TO THE MEMBER AND DOMESTIC NONMEMBER DEPOSITS SHOWN* DEPOSITS DUE TO FOREIGN AND
INTERNATIONAL INSTITUTIONS AT F.R.BANKS AND Ml TYPE BALANCES AT AGENCIES AND BRANCHES OF FOREIGN BANKS.
2/ BASED ON MOST RECENT CALL REPORT SINGLE-DAY OBSERVATIONS.
3/ INCLUDES NEGOTIABLE TIME CERTIFICATES UP DEPOSIT ISSUED IN DENOMINATIONS OF $100,000 OR MORE BY LARGE WEEKLY
REPORTING COMMERCIAL BANKS.

4/ AVERAGE OF BEGINNING AND cND OF MONTH DEPOSITS AT MUTUAL SAVINGS BANKS, SAVINGS AMD LOAN SHARES, AND CREDIT UNION SHARES.
5/ U.S.GOVERNMENT DEMAND DEPOSITS AT ALL COMMERCIAL BANKS.
P - PRELIMINARY;




R - REVISED