Full text of H.6 Money Stock Measures : November 30, 1978

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FEDERAL

RESERVE

statistical

release

Table 1

FEDERAL RESERVE Statistical Ralaaat H.6

For Immediate Roleas*

MONEY STOCK MEASURES
NOV.

IN BILLIONS OF DOLLARS

M-1

M-1 +

M-2

M-3

M-1 Plus
M-1 Plus
M-2 Plus
Time
Savings
Currency
Deposits at Deposits at
Deposits at
Plus
CB's and
Commercial
Nonbank
Demand
Banks Other
Thrift
Deposits J/ Checkable
Deposits at Than Large Institutions*/
CD's 2/
Thrift tost.2/

Date

M-4

M-5

M-2 Plus
Large
Negotiable
CD's^/

M-3 PI us
Large
Negotiable

867.8
876.3
883.5
892.2
898. 5
904.7
913.7
922.2
927.3
933.6
939.8
950.5
955.6

1424.3
1438.0
1450.1
1462.9
1472. 5
1482.3
1494.9
1506.9
1516.5
1528.4
1541.4
1560.2
r 1572.4

M-1

M-1 +

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

Seasonally Adjusted
197r'--OCT.

nc T .

NOV.

1353.0
1360.1
1377.5
1389.0
1386.0
1400.2
1421.2
1420.3
1435.2
1447.9
1453.0
1466.4
r 1478.8

867. 1
874.4
890.9
897.0
890.8
901.4
917.9
918.2
928.3
936.0
938.8
948. 7
955.3

852.6

943.3

864.5
869.4
869.3
865. I

951.4
955.8
956.2
954. 1

360.5
364.9
364.8
356.0

585.9
590.8
589.9
580.5

862.5
868.6
868.0
859.6

953. 1
958.4
957.6
950.8

868.2

960.0
964.9
r 966.5
966.5

359.4
365.9
365.5
360.3

582.7
589.1
588.9
583.1

862.5
869.8
870.1
865.8

955.7
964.7
r 966.2
962.9

11
18
25

360.2
364.3
364.3
358. R

587.6
591.6
591.2
585.4

1
8P
15P r
22P

361.2
362.4
361.4
359.5

586.9
588.1
586.7
584.0

870. 9

r

Not Seasonally Adjusted

577.5

864. 1

4

M-3 Plus
Large
Negotiable
CD's^/

353.0

588.9

1^7H-CEPT. 27

M-2 Plus
Large
Negotiable
CD'sS/

951. 7

361.8

SEPT.
OCT.

M-5

798.7
802.8
814.9
820.6
813.9
821.1
836.6
833.6
842.0
848.7
850.8
858.4
864.5

801.4
805.4
809.5
815.9
819. 1
822.6
830. 3
835.2
840.6
846.2
853.5
862.4
867.4

AUG.

M-1 Plus
M-2 Plus
Time
Deposits at Deposits at
Commercial
Nonbank
Banks Other
Thrift
Than Large Institutions^/
CD's 3/

M-4

555.0
558.1
568.1
569.4
558.3
562.7
577.3
571.7
578.1
581.9
579.3
583.8
586.2

557.5
557.7
560.2
564.6
565.0
566.2
572.6
575.2
577.1
577.8
582.0
587.9
588.8

JUNE
JULY

M-3

335.2
338.4
348.2
347.5
335.9
338.2
350.9
345.3
351 .7
356.0
354.2
358.8
361.3

335.9
336.2
338.5
341.7
341.8
342.9
348.5
350.6
352.8
354.2
356.7
360.9
362.0

NOV.
DEC.
1978 — JAN.
FEB.
MAR.
APR.
MAY

M-2

30, 1978

871.1
870.2

1357.9
1367.1
1376.1
1386.6
1393.1
1400.3
1411.4
1419.9
1429.8
1441.0
1455.1
i 1472.1
r 1484.2

1421.3
1431.7
1453.4
14o5.4
1462.9
1480.5
1502.6
1505.0
1521.5
1535.3
1541.0
1556. 7
r 1569.6

I/ I N C L U D E S (1) DEMAND D E P O S I T S AT ALL C O M M E R C I A L BANKS OTHER THAN THOSE JUE TO D O M E S T I C C C M M E R C I A L BANKS AND THE U.S.GOVERNMENT ,
L K S S CASH ITEMS IN THE PROCESS OF COLLECTION AND F.R.FLOAT; (2) F O R E I G N D E M A N D B A L A N C E S AT F.R.BANKS; AND (3) CURRENCY O J T S I D E
THF T R E A S U R Y , F.R.BANKS AND VAULTS OF ALL C C M M E R C I A L BANKS.
2/ INCLUDES Ml, PLUS S A V I N G S D E P O S I T S AT C O M M E R C I A L BANKS, NOW ACCOUNTS AT B A N K S AND T H R I F T I N S T I T U T I O N S , C R E D I T UNION SHfiRE D R A F T
ACCOUNTS, AND DEMAND DEPOSITS AT MUTUAL S A V I N G S BANKS.
3/ INCLUDES, IN A D D I T I O N TO C U R R E N C Y AND DEMAND DEPOSITS, S A V I N G S DEPOSITS, T I M E DEPOSITS OPEN ACCOUNT, AND T I M E C E R T I F I C A T E S OF
DEPOSITS OTHER THAN N E G O T I A B L E T I M E C E R T I F I C A T E S OF DEPOSIT ISSUEJ IN D E N O M I N A T I O N S OF $100,000 OR MORE BY L A R G E W E E K L Y REPORTING C O M M E R C I A L BANKS.
4/ INCLUDES '42, PLUS THE A V t k A G E OF THE B E G I N N I N G AND END OF MONTH DEPOSITS OF MUTUAL S A V I N G S B A N K , S A V I N G S AND LOAN SHARES, AND
C R E D I T U N I O N SHARES.
5/ INCLUDES M2, PLUS N E G O T I A B L E T I M E C E R T I F I C A T E S OF DEPOSIT ISSUED IN D E N O M I N A T I O N S OF $100,000 OR MORE.
6/ INCLUDES M3, PLUS N E G O T I A B L E T I M E C E R T I F I C A T E S OF DEPOSIT ISSUED IN D E N O M I N A T I O N S OF $100,000 OR MORE.

p - PRELIMINARY;



R - REVISED




FEDERAL RESERVE Statistical Reta

Tab** 2

>H.6

MONEY STOCK MEASURES
PERCENT CHANGE AT SEASONALLY ADJUSTED ANNUAL RATES

Date

M-1

M-1+

M-2

M-3

M-4

M-5

Currency
Plus
Demand
Deposits ^

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

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

M-2 Plus Deposits
at Nonbank Thrift
Institutions I/'

M-2 Plus Large
Negotiable CD's 5/

M-3 Plus Large
Negotiable CD's ay

OCT.

FROM:

JULY

1978

(3

MONTHS PREVIOUS)

8.8

7.6

APR.

1978

(6 MONTHS PREVIOUS)

7.7

5.7

8.9

OCT.

1977

(12 MONTHS PREVIOUS)

7.8

5.6

8.2

4.9

3,4

8.3

FOUR WEEKS ENDING: NOV. 22,
FROM FOUR WEEKS ENDING:
AUG.

10.0

12.0

9.4

11.5

10.3

9.2

10.4

9.3

10.1

10.4

1973

23, 1978(13 WEEKS PREVIOUS)

MAY

24, 1978(26 WEEKS PREVIOUS)

5.9

3.9

8.5

NOV.

23, 1977(52 WEEKS PREVIOUS)

7.5

5.2

8.2

11.0

9.4
10.3

I/ INCLUDES (1) DEMAND DEPOSITS AT ALL COMMERCIAL BANKS OTHER THAN THOSE DUE TO DOMESTIC C O M M E R C I A L 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/ INCLUDES, IN ADDITION TO CURRENCY AND DEMAND DEPOSITS, SAVINGS DEPOSITS, T I M E 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 LARGE WEEKLY REPORTING COMMERCIAL BANKS.
4/ 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.
5/ INCLUDES M2, PLUS NEGOTIABLE TIME CERTIFICATES OF DEPOSIT ISSUED IN DENOMINATIONS OF $100,000 OR MORE.
6/ INCLUDES M3 f PLUS NEGOTIABLE TIME CERTIFICATES OF DEPOSIT ISSUED IN DENOMINATIONS OF $100,000 OR MORE.
NOTE: ALL RATES OF CHANGE ARE BASED ON DAILY A V E R A G E DATA; RATES OF CHANGE ARE NOT COMPOUNDED.

FEDERAL RESERVE Statistical Release H.6

Table 3

COMPONENTS OF MONEY STOCK MEASURES AND RELATED ITEMS
SEASONALLY AD JUSTED, IN BILLIONS OF DOLLARS

Time and Savings Deposits^
Currency

Date

Demand
Deposits

Time Deposits
Savings &
CD's^/

Total

Other

Nonbank
Thrift
Institutions4/

1977—-OCT.
NOV.
DEC.

87.1
87.7
88.6

248.7
248.5
249.9

66.4
70.9
74.0

246.0
249.7
251.5

219.6
219.4
219.6

531.9
540.1
545.0

556.5
561.7
566.6

1978 — JAN.
FEB.
MAR.
APR.

89.4
90.1
90.7
91.2
92.1
92.8
93.3
94.0
95.2
96.0

252.2
251.7
252.3
257.3
258.5
259.9
260.9
262.8
265.7
266. 1

76.3
79.4
82.0
83.4
87.1
86.7
87.4
86.3
88.2

253.6
256.4
258.7
260.1
262.6
266.1
271.1
274.3
277.4
281.5

220.7
220.9
221.0
221.6
222.0
221.7
220.9
222.4
224.2
223.9

550.6
556.7
561.7
565.2
571.6
574.5
579.4
583.0
589.7
593.6

570.7
574.0
577.7
581.2
584.7
589.2
594. 7
601.6
609.6
r 616.8

1978-SEPT. 27

95.4

266.4

87.5

278.1

224.2

589.9

4

95.8
95.7
96.0
95.8

264.5
268.5
268.3
263.0

87.0
86.4
87.0
89.0

279.8
280.7
281.0
282.6

224.5
224.5
224.0
223.7

591.2
591.5
592.0
595.3

96.5
96.4
96.5
96.9

264.6
266.0
r 264.9
262.6

91.8
94.0
95.4
96.3

284.2
285.7
287.2
289.1

222.9
222.3
222.5
221.6

598.9
602.5
605.1
606.9

MAY
JUNE
JULY

AUG.
SEPT.
OCT.

88. 1

W E E K ENDING:

OCT.

11
18
25

NOV.

1
8 P
15 P
?.2

P

I/ T I M E AND S A V I N G S DEPOSITS AT ALL C O M M E R C I A L BANKS.
21 INCLUDES N E G O T I A B L E T I M E C E R T I F I C A T E S OF DEPOSIT ISSUED IN D E N O M I N A T I O N S OF $100,000 OR MORE BY LARGE WEEKLY REPORTING C O M M E R C I A L BANKS.
3/ INCLUDES NOW ACCOUNTS AT C O M M E R C I A L BANKS.
4/ A V E R A G E OF B E G I N N I N G AND END OF MONTH DEPOSITS AT M U T U A L S A V I N G S B A N K S , S A V I N G S AND LOAN SHARES, AND CREDIT UNION SHARES
P - PRELIMINARY;
R - REVISED




FEDERAL RESERVE Statistical Reserve H.6

Table 4

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

Demand Deposits
Currency

Date

Total^/

Member

Domestic^
Nonmember

Time Deposits
CD's4/

Other

Savings^

Total

Other
Checkable
Deposits £/

N on bank
Thrift
Institutions!/

U.S.
Gov't.
Demand5/

1977— O C T .
NOV.
DEC.

86.9
88.4
90.1

248.2
250.0
258.1

171.2
171.5
177.5

72.8
74.1
76.2

68.3
71.6
75.9

245.8
246.8
249.0

217.8
217.6
217.7

531.9
536.0
542.6

2.0
2.1
2.1

554.2
557.3
562.5

3.7
3.5
5.1

1978 — JAN.
FEB.
MAR.
APR.

88.7
89.0
89.9
91.0
91.9
92.9
94.1
94.3
95.0
95.8

258.8
247.0
248.2
259.9
253.3
258.8
262.0
259.9
263.8
265.6

177.3
169.0
170.0
177.3
172.6
175.7
177.7
176.1
178.2
179.2

77.0
73.8
74.3
78.5
76.9
79.1
80.3
79.9
81.8
82.6

76.4
76.9
80.2
81.4
84.6
86.3
87.3
88.0
90.3
90.8

253.4
257.9
260.7
261.8
264.5
266.5
269.5
274.4
277.5
281.2

219.7
220.1
222.2
223.9
223.8
223.8
223.1
222.2
222.1
222.0

549.5
554.9
563.2
567.1
572.9
576.6
579.9
584.6
589.9
594.0

2.2
2.3
2.3
2.5
2.6
2.6
2.7
2.8
2.9
2.9

568.4
572.1
579.1
584.6
586.7
593.2
599.3
602.1
r 608.1
r 614.3

4.3
4.3
4.8
5.0
4.0
6.2
4.5
3.6
6.2
4.3

1978-SEPT. 27

94.1

258.9

175.0

80.1

90.8

277.9

221.6

590.3

7.8

4

95.2
96.6
96.0
95.3

265.3
268.3
268.8
260.6

179.9
181.1
180.9
175.6

81.6
83.4
84.1
81.4

90.6
89.8
89.7
91.1

279.4
280.7
280.9
282.1

222.6
223.0
222.3
221.6

592.6
593.5
592.8
594.8

8.1
4.2
3.6
3.7

95.3
97.5
97.5
97.7

264.1
268.4
268.0
262.6

178.7
181.0
180.0
175.3

81.6
83.5
84.5
83.7

93.3
94.9
96.0
97.1

282.7
283.7
284.1
285.5

220.4
220.3
220.5
219.9

596.4
598.8
600.6
602.6

3.3
6.6
6.2

MAY
JUNE
JULY
AUG.
SEPT.
OCT.

WEEK

ENDING:

OCT.

11
18
25

NOV.

1
8P
15P
22P

r

10.5

I/ TIME AND SAVINGS DEPOSITS AT ALL COMMERCIAL BANKS.
21 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.
P - PRELIMINARY; R - REVISED




SPECIAL SUPPLEMENTARY TABLE*
Savings Deposits Authorized for Automatic Transfer (ATS)
-,
All Insured Commercial Banks and Mutual Savings Banks in Selected States,—

on Selected Dates

Commercial Banks2/
Nov. 8
Nov. 15

Amount outstanding
($ millions)

770-

Number of ATS accounts
(thousands)

125

*

136(£'-

205

Mutual Savings
BanksS/
Nov. 8
Nov. 15

2

lr

The survey collecting these data is scheduled to be conducted weekly
through December 1978.
_!/ Excluding Massachusetts, New Hampshire, Connecticut, Rhode Island,
Maine and Vermont for both commercial banks and mutual savings banks
and Alaska, Washington and Wisconsin for mutual savings banks.
2] Estimates for all commercial banks are based on data collected by
the Federal Reserve and the FDIC from a stratified random sample of
351 commercial banks.
J3/ Estimates for all mutual savings banks are based on data collected
by the FDIC from a stratified random sample of 73 mutual savings
banks.
kl The standard error associated with this estimate is about $ 120
million.
j>/ Based on judgments of the survey respondents, it is estimated that
roughly 50 to 60 per cent of the balances in ATS accounts represented
funds which had come from demand deposit accounts; this estimate is
subject to a wide range of error.
6J The standard error associated with this estimate is about $190 million,
r — Revised.