Full text of H.6 Money Stock Measures : November 29, 1979

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FEDERAL RESERVE statistical release
Table 1

FEDERAL RESERVE Statistical RaleamafH.6 (508)

For Immediate Rol#aa#

Money Stock Measures
In Billions of Dollars
M-1

M-1 +

M-3

M-2

M-1 Plus
M-1 Plus
Savings
M-2 Plus
Time
Currency
Deposits at Deposits at Deposits at
Plus
CBs and
Nonbank
Commercial
Demand
Thrift
Deposits 1/ Checkable Banks Other
Deposits at Than Large Institutions^/
CDsi2/
Thrift Inst. 2/

Date

M-4

M-5

M-2 Plus
Large
Negotiable
CDs 5/

M-3 Plus
Large
Negotiable
CDs 5/

958.8
969.1
972.4
975.5
978.8
978.5
984.8
984.4
989.3
998.8
1008.4
1020.0
r1029.7

1573.
1588.
1596.
1604.
1611.
1616.
1625.
1627.
1637.
1651.
1666.
1682.
1695.

NOV.

M-1

M-1 +

Currency
Plus
Demand
Deposits y

M-1 Plus
Savings
Deposits at
CBs and
Checkable
Deposits at
Thrift Inst. 2/

Seasonally Adjustad
589.9
587.8
587.2
583.4
580.1
579.6
535.1
584.1
590.1
595.1
598.3
601.9
r 599.7

1979-SEPT. 26

377.7

600.8

932. 8

OCT.

3
10
17
24P
31P

379.7
380.5
378.7
376.8
376.2

6 02.4
r 603.3
r 600.4
597.0
594.6

r 936. 8
r 939. 7
938. 7
937. 0
937. 8

NOV.

7P
14P
21P

379.5
378.5
379.8

595.5
r 593.5
594.3

942. 4
943. 5
944. 5

1036.3
r1037.9
1039.8

MAY

JUNE
JULY
AUG.
SEPT.
OCT. P

870.
373.
875.
875.
876.
879.
889,
893.
904.
914.
922.
931.
938.

2
7
8
0
7
5
8
8
4
1
5
9
6

1484.8
1493.1
1500.1
1503.7
1509.7
1517.5
1530.8
1537.0
1552.3
1567.0
1580.0
r 1594.3
r 1604.5

M-3

M-4

M-5

M-2 Plus
Large
Negotiable
CDs 5/

M-3 Plus
Large
Negotiable
CDs*/

958.3
967.4
981.0
980.7
970.6
975.7
989.5
981. 1
990.4
1001.0
1005.7
1017.0
rl029.0

1571.
1583.
1602.
1607.
1601.
1614.
1633.
1625,
1640.
1657.
1663.
1678,
1693.

Not Seasonally Adjusted

361.2
360.6
361.2
359.7
358.6
359.0
364.3
364.5
369.0
372.2
374.3
377.8
378.6

1978—OCT.
NOV.
DEC.
1979—JAN.
FEB.
MAR.
APR.

M-2

M-1 Plus
M-2 Plus
Time
Deposits at Deposits at
Commercial
Nonbank
Banks Other
Thrift
Than Large Institutions^/
CDs .2/

29, 1979

361.0
362.6
371.3
365.4
351.9
353.7
367.4
359.1
368.2
374.1
371.6
375.6
378.4

5 88.1
587.9
595.2
588.3
5 72.8
575.6
5 90.7
5 80.6
591.0
598.8
5 95.6
5 97.8
5 97.8

867.5
871.0
881.5
879.6
871.0
878.2
896.8
392.1
906.0
917.0
919.3
927.2
r 93 5.7

1021.8

369.6

5 90.4

921.4

1012.6

r1026.0
1029.5
r1029.6
1028.9
1030.3

r 378.3
r 382.9
r 381.3
373.7
373.5

5 99.3
6 04.6
r 6 01.7
592.1
5 89.5

932.9
' r940.3
r 938.8
931.0
931.0

r1024.9
r1032.8
r1032.0
1024.8
1025.4

383.3
383.1
380.7

5 97.2
r 5 96.4
593.5

941.5
942.9
940.4

1036.1
1037.9
1036.6

4
6
7
2
6
5
9
6
2
7
0
4
5

1480.9
1487.2
1502.8
1506.8
150 2.1
1517.4
1540.8
1536.4
1556.3
1573.0
1577.1
r1588.5
r 1600.2

WEEK ENDING :

1/ INCLUDES (1) DEMAND DEPOSITS AT ALL COMMERCIAL BANKS OTHER THAN THOSE DUE TO DOMESTIC COMMERCIAlN 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) CURRENCY 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 THRIFT INSTITUTIONS, CREDIT UNION SHARE DRAFT
ACCOUNTS, AND DEMAND DEPOSITS AT MUTUAL SAVINGS BANKS.
3/ INCLUDESt 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 $100,000 OR MORE BY LARGE WEEKLY REPORTING COMMERCIAL BANKS.
4/ 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.
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 OR MORE.
P - PRELIMINARY; 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.
R - REVISED




7
5
4
9
7
9
5
4

7
0
4
4
5

FOMERAL RESERVE M b v t a i N i N N H.6 (808)

Table 2

Money Stock Measures
Percent Change at "Seasonally Adjusted Annual Rates
M-1
Currency

Dale

Plus
Demand
Deposits^

M-1+

M-2

M-3

M-4

M-1 Pius Savings
Deposits at CBs
and Checkable
Deposits at
Thrift Inst. V

M-1 Plus Time
Deposits at
Commercial
Banks Other Than
Large CDs 3/

M-2 Plus Deposits
at Nonbank Thrift
Institutions 4/

Negotiable CDs &

M-2 Plus Large

M-5

M-3 Plus Large
Negotiable CDs 6/

OCT.

FROM:

JULY

1979

( 3 MONTHS PREVIOUS)

6.9

3.1

10.7

9.6

12.4

APR.

1979

( 6 MONTHS PREVIOUS)

7.9

5.0

11.0

9.6

9.1

8.6

OCT.

1978

( 1 2 MONTHS PREVIOUS)

4.8

1.7

7.9

8.1

7.4

7.8

FOUR WEEKS ENDING :
NOV. 2 1 ,
FROM FOUR WEEKS ENDING:
AUG.

22,

MAY

23,

NOV.

12,

10.6

1979

1 9 7 9 ( 1 3 WEEKS PREVIOUS)

4.9

-2.1

9.3

11.8

1 9 7 9 ( 2 6 WEEKS PREVIOUS)

7.7

3.5

11.0

10.4

1 9 7 8 ( 5 2 WEEKS PREVIOUS)

4.9

1.1

7.9

7.1

1/ INCLUDES (1) OEMAND 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; (2) FOREIGN DEMAND BALANCES AT F.R.BANKS; AND (3) CURRENCY OUTSIDE
THE TREASURY, F.R.BANKS AND VAULTS OF ALL COMMERCIAL BANKS.
2/ INCLUDES Ml, PLUS SAVINGS DEPOSITS AT COMMERCIAL BANKS NOW ACCCUNTS AT BANKS AND THRIFT 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 TIME CERTIFICATES OF
DEPOSITS OTHER THAN NEGOTIABLE TIME CERTIFICATES OF DEPOSIT ISSUED IN DENOMINATIONS OF $100,000 OR MORE BY LARGE WEEKLY REPORTING COMMERCIAL BANKS.
4/ INCLUDES M2, PLUS THE AVERAGE OF THE BEGINNING AND END OF MONTH DtPOSITS OF MUTUAL SAVINGS BANKS, SAVINGS AND LOAN SHARES, AND
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 OR MORE.
NOTE: ALL RATES OF CHANGE ARE BASED ON DAILY AVERAGE DATA; RATES OF CHANGE ARE NOT COMPOUNDED.




FEDERAL RESERVE StatteNcal I W M N H.t (SOS)

Table 3

Components of Money Stock Measures and Related Items
Seasonally Adjusted, in Billions of Dollars
Time and Savings Eteootlts
Date

Currency

Demand
Deposits

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

r

!

Time Deposits
CDs?/

95.8
96.6
97.5
98.2
98.9
99.4
100.2
100.7
101.5
102.4
103.6
104.9
105.4

265.3
264.0
263.7
261.5
259.7
259.5
264.1
263.8
267.5
269.8
270.7
273.0
273.2

88.6
95.4
96.6
100.5
102.1
99.0
95.0
90.6
84.9
84.7
85.9
88.1
91.1

104.8

272.9

89.0

s

!

y

Total
Other

283*2
288.8
291.5
294.6
299 c 5
302 * 9
307.9
313.0
317.6
322.4
327.6
333.4
342*3

Nonbank
Thrift
Institutions &

225.9
224.3
223.0
220.8
210.6
217.7
217.7
216.4
217.8
219.5
220.7
220.7
217.6

597.7
608.5
611.2
615.8
620.2
619.5
62 0.6
619.9
620.3
626.6
634.2
642.2
651.1

335.4

219.7

644.1

0.0

S
1

614.6
619.5
624.4
628.7
633.0
638.0
641.0
643.2
647.9
652.9
657.5
662.4
r 665.8

WEEK ENDING :

1979-SEPT.
OCT.

NOV.

26
3

r

10
17
24P
31P

105.3
105.4
105,2
105.2
105.6

2 74.5
275.1
r 273.4
271.6
270.6

89.2
89*9
90.9
91.9
92.5

337.7
339.8
341.7
343.4
346.6

219.3
219.4
218.4
216.8
215.1

r 646.3
649.0
650.9
652.1
654.2

0.0
0.0
0.0
0.0
0.0

7P
14P
ZIP

105.9
105.8
105.9

273.5
r 272.6
273.9

93.9
r 94.4
95.2

350.3
r 353.4

212.6
211.7
211.1

656.9
659.5
659.9

0.0
0.0
0.0

353.6

1/ TIME AND SAVINGS DEPOSITS AT ALL COMMERCIAL BANKS.
2/ INCLUDES NEGOTIABLE TIME CERTIFICATES OF DEPOSIT ISSUED IN DENOMINATIONS OF $100,000 OR MORE BY LARGE WEEKLY REPORTING COMMERCIAL BANKS.
3/ INCLUDES NOW ACCOUNTS AT COMMERCIAL BANKS.
4/ AVERAGE OF BEGINNING AND END OF MONTH DEPOSITS AT MUTUAL SAVINGS BANKS, SAVINGS AND | — -"*nc<:_ AMn CREDIT UNION SHARES.




FEDERAL RESERVE Statistical R M W V « H.S (SOS)

Table 4

Components of Money Stock Measures and Related Items
Not Seasonally Adjusted, in Billions of Dollars
Demand Deposits
Date

Currency
Total H

1979-SEPT.
OCT.

NOV.

Domestic &
Nonmember

Savings^

Total

Other
Checkable
Deposits &

22'+.2

Time Deposits
CDs 4/

Other

Nonbank
Thrift
Institutions^

U.S.
Gov't.
Demand &

95.6
97.3
99.1
97.4
97.6
98.6
99.9
100.6
101.8
103.2
103.9
104.5
r 105.2

265.3
265.3
272.2
268.0
254.2
255. 1
267. 5
258.5
266.4
270.9
267.7
271. 1
273.2

179.4
178.4
183.0
179.3
169.6
170.4
178.5
171.8
177.1
180.5
178.5
179.4
r 180.4

82.2
83.2
85.2
84.6
80.7
80.6
85.1
82.6
84.8
86.1
85.3
87.4
88.3

90.8
96.4
99.5
101.1
99.6
97.5
92.6
88.9
34.4
84.0
86.4
89.8
93.3

282.3
286.0
289.2
294.3
301.1
305.5
309.3
314.9
318.3
321.6
327.1
332.7
341.2

222.4
220.9
219.9
218.0
218.9
220.1
218.2
219.4
221.4
220.7
218.9
216.0

597.4
604.8
609.7
615.3
618.7
622 . 0
622.1
622.0
622.2
627.0
634.1
641.4
650.6

2.9
2.9
3.0
2.9
2.9
3.0
3.2
3.3
3.3
3.4
3.4
3.4
3.4

613.4
616.2
621.4
627.1
631.1
639.2
644.0
644.3
650.3
656.0
657.8
661.4
r664.5

26

103.6

266.1

176.5

85.3

91.2

334.4

217.3

642.9

3.4

0.0

19.6

3
10
17
24P
31P

104.3
106.4
105.5
104.8
104.2

273.9
276.5
275.9
268.9
269.2

182.0
182.1
r 181.6
177.3
178.6

87.4
89.6
90.0
87.0
86.3

92.0
92.5
93.2
93.9
94.4

r 336.9
339.0
340.5
342.3
344.9

217.7
218.4
217.0
215.0
212.7

r 646.6

3.4
3.4
3.4
3.4
3.4

0.0
0.0
0.0
0.)
0.0

16.9

649.9
650.7
651.2
652.0

10.6
12.4
12.2

7P
14P
21P

106.5
106.9
106.7

276.8
276.2
273.9

183.9
r 182.6
180.4

88.6
89.4
89.1

94.6
95.0
96.2

347.7
349.8
350.3

210.5
210.0
209.5

652.8
654.8
656.0

3.4
3.4
3.4

0.0
0.0
0.0

6.4
4.1
4.9

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

WEEK ENDING

Member

Time and Savings Deposit ^

4.2
8.0

10.2
11.9
8.3
6.5
5.3
8.4

10.8
13.2
9.8

12.4
11.7

:

9.2

t

1/ TIME AND SAVINGS DEPOSITS AT ALL COMMERCIAL BANKS.
2/ TOTAL DEMAND 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.
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 BANKS,
7/ AVERAGE OF BEGINNING AND END OF MONTH DEPOSITS AT MUTUAL SAVINGS BANKS, SAVINGS AND LOAN SHARES, AND CREDIT UNION SHARES.
8/ U.S. GOVERNMENT DEMAND DEPOSITS AT ALL COMMERCIAL BANKS. INCLUDES TREASURY NOTE BALANCES, BEGINNING NOVEMBER 2, 1978.



Special Supplementary Table
Savings Deposits Authorized for Automatic Transfer (ATS)—
and NOW Accounts in New York State
(Amounts outstanding, million of dollars,
insured commercial banks)
21
ATS Accounts—
Oct.

Nov.

J7

NOW Accounts in,
New York Stated

24

7150

2140

31

7095

2150

7

7015

2220

14
21

7040
6980

2195
2165

Excluding commercial banks in Massachusetts, New Hampshire,
Connecticut, Rhode Island, Main and Vermont.

7J ATS estimates are based on data collected by the Federal Reserve
and the FDIC from a stratified random sample of 351 commercial
banks. NOW estimates are based on data collected from a sample
of 38 banks in New York l.tate.




SPECIAL SUPPLEMENTARY TABLE*
Money Market Certificates—'
All Insured Commercial Banks and All Mutual Savings Banks
As of September 26, 1979 and October 31, 1979

Mutual Sayings
Banks^'
September 26

October 31

September 26

27,771

31,048

465

4/
Amount outstanding—
(millions of dollars)

76,236

90,168r

Number of institutions
offering

12,999

13,149

459

84,0

84.0

87.0

Percent of offering
institutions paying the
ceiling rate during the
survey week

October 31

72.7

r—revised
*
The survey collecting these data has been conducted as of the last Wednesday of each
month since Jmio 1978.
\J 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 i&-September and October was equal to the commercial bank rate
(see p. A10 ii* the Federal Reserve Bulletin) .
2/ Estimates for all insured commercial banks in October are based on data collected by
the Federal Reserve and the FDIC from a stratified random sample of about 510 banks.
3/ Estimates for all mutual savings banks in October are based on data collected by
the FDIC from a stratified random sample of about 85 banks,
4/ For October 31 f the standard error associated with the dollar estimates for commercial
banks is about $1.5 billion, and for mutual savings banks the standard error is about
$685 million. For September 26, the standard errors for commercial banks and mutual
savings banks are $1.5 billion and $575 million, respectively.