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FEDERAL RESERVE statistical release Memorandum to correspondents: November 8, 1979 The money supply statistics published today for the weeks ending October 3, 10, 17 and 24 incorporate further minor corrections made in the data provided by Manufacturers Hanover Trust Company. The changes in reported data were offset, in part, by revisions in other reported statistics. We have been assured by Manufacturers Hanover that today's revisions are the last that will result from that source for weekly October figures. As indicated earlier, the Federal Reserve has begun an inquiry, with the help of outside counsel, to provide assurance that recent errors in the money supply data were inadvertent and that no individual or institution obtained improper advantage from the preparation, revision and release of these figures. Alan B. Levenson, a Washington D. C. attorney, will be principally responsible for the inquiry which will cover Manufacturers Hanover, the Federal Reserve Bank of New York and the Board of Governors. ###### FEDERAL RESERVE statistical release For Immediate Release Table 1 FEDERAL RESERVE Statistical R I I M N H.6 (508) Money Stock Measures NOV. In Billions of Dollars M-1 + M-1 Currency Plus Demand Deposits-1/ Date 1978—OCT. NOV. DEC. 1979—JAN. FEB. MAR. APR. MAY JUNE JULY AUG. SEPT.P OCT. P M-2 M-3 M-1 Plus M-1 Hus Savings M-2 Plus Time Deposits at Deposits at Deposits at CBs and Nonbank Commercial Checkable Thrm Banks Other Deposits at Than Large Institutions:*/ CDs 3 / Thrift lnst.J2/ 1484.8 1493.1 1500.1 1503.7 1509,7 1517.5 1530.8 1537.0 1552.3 1567.0 1580.0 1594.4 1604.3 M-1 + M-2 M-4 M-5 M-1 M-2 Plus Large Negotiable CDs 5 / M-3 Plus Large Negotiable CDs 5/ Currency Plus Demand Deposits V 958.8 969.1 972.4 975.5 978.8 978.5 984.8 984.4 989.3 998.8 1008.4 1020.0 1029.7 1573.4 1588.6 1596.7 1604. 2 1611.8 1616.5 1625.9 1627.6 1637.2 1651.7 1666.0 1682.4 1695.4 361.0 362.6 371.3 365.4 351.9 353.7 367.4 359.1 368.2 374.1 371.6 375.6 378.4 5 88.1 5 87.9 595.2 588.3 5 72.8 5 75.6 5 90.7 580.6 5 91.0 598.8 595.6 5 97.8 5 97.8 867.5 871.0 881.5 879.6 871.0 878.2 896.8 892.1 906.0 917.0 919.3 927.2 935.6 M-1 Hus Savings Deposits at CBs and Checkable Deposits at Thrm Inst. 1/ M-3 M-1 Plus M-2 Plus Time Deposits at Deposits at Commercial Nonbank Banks* Other Thrift Than Large Institutions^ CDs 4 / 1480.9 1487.2 1502.8 1506.8 1502.1 1517.4 1540.8 1536.4 1556.3 1573.0 1577.1 1588.6 1600.0 8» M-4 M-2 Plus Large Negotiable CDs 5/ 958.3 967.4 981.0 980.7 970.6 975.7 989.5 981.1 990.4 1001.0 1005.7 1017.0 1029.0 589.9 587.8 587.2 583.4 580.1 579.6 585.1 584.1 590.1 595.1 598.3 601.9 599.6 870.2 873.7 875.8 875.0 876.7 879.5 889.8 893.8 904.4 914.1 922.5 931.9 938.6 377.3 378.2 377.3 377.7 602.0 603.5 601.6 600.8 928.9 931.3 931.6 932.9 1015.6 1018.5 1019.9 1021.8 376.0 378.7 377.2 369.6 5 99.5 602.5 599.4 5 90.4 926.3 930.0 928.3 921.4 1014.1 1018.6 1018.3 1012.6 379.7 380.5 378.7 376.9 376.5 602.4 603.2 600.5 597.1 595.0 936.7 939.6 938.7 937.1 938.2 1025.9 1029.5 1029.7 1029.0 1030.7 378.2 382.8 381.4 373.8 373.8 5 99.3 604.6 601.8 592.1 589.9 932.8 940.2 938.9 931.1 931.4 1024.8 1032.7 1032.1 1024.9 1025.8 361.2 360.6 361.2 359.7 358.6 359.0 364.3 364.5 369.0 372.2 374.3 377.8 378.6 • 1979 M-5 M-3 Plus Large CDs 5/ 1571.7 1583.5 1602.4 1607.9 1601.7 1614.9 1633.5 1625.4 1640.7 1657.0 1663.4 1678.4 1693.4 WEEK ENDING: 1979-SEPT. 5 12 19 26 OCT. 3P 10P 17P 24P 31P 1/ INCLUOES (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; (2) FOREIGN DEMAND BALANCES AT F.R.BANKS; AND C3J CURRENCY OUTSIDE THE TREASURY, F.R.BANKS AND VAULTS OF ALL COMMERCIAL BANKS. 2/ INCLUDES Ml, PLUS SAVINGS DEPOSITS AT COMMERCIAL BANKSf NOW ACCOUNTS AT BANKS AND THRIFT INSTITUTIONS, pREDIT 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 DEPOSITS OF MUTUAL SAVINGS BANK, SAVINGS AND LOAN SHARES. AND CREDIT UNION SHARES. http://fraser.stlouisfed.org/S/ 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. Federal Reserve Bank of St. Louis FEDERAL Table 2 Money Stock Measures Percent Change at Seasonally Adjusted Annual Rates M-1 Dale Currency Plus Demand Deposits^ M-2 M-3 M-4 M-5 M-1 Plus Savings Deposits at CBs and Checkable Deposits at Thrift Inst. 2/ M-1 Plus Time Deposits at Commercial Banks Other Than Large CDs 3/ M-2 Plus Deposits ai nonoanK innn Institutions!/ M-2 Plus Large Negotiable CDs §/ M-3 Plus Large Negotiable CDs 6/ OCT. FROM: JULY 1979 (3 MONTHS PREVIOUS) 6.9 3.0 10.7 9.5 12.4 APR. 1979 ( 6 MONTHS PREVIOUS) 7.9 5.0 11.0 9.6 9.1 8.5 OCT. 1978 ( 1 2 MONTHS PREVIOUS) 4.8 1.6 7.9 8.0 7.4 7.8 10.6 FOUR WEEKS ENDING: OCT. 3 1 , 1979 FROM FOUR WEEKS ENDING: AUG. 1 , 1 9 7 9 ( 1 3 WEEKS PREVIOUS) MAY 2, 1 9 7 9 ( 2 6 WEEKS PREVIOUS) NOV. 1 , 1 9 7 8 ( 5 2 WEEKS PREVIOUS) 2.4 10.3 12.1 7.6 4.7 10.8 9.0 4.7 1.6 6.3 7.8 7.3 1/ 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; (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, TIME DEPOSITS OPEN ACCOUNT, AND TIME CERTIFICATES OF DEPOSITS OTHER THAN NEGOTIABLE TIME CERTIFICATES OF DEPOSIT ISSJED 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 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 COMPCUNOED. FlOfHAL MNRVf Table 3 H.6 (506) Components of Money Stock Measures and Related Items Seasonally Adjusted, in Billions of Dollars Time and Savings Deposits ^ Currency Date Demand Deposit; Nrtn hank I^V/IIUCUllV Tinne Deposits Savings 3/ CDs 2' Total Other 95.8 96.6 97.5 98.2 98.9 99.4 100.2 100.7 101.5 102.4 103.6 104.8 105.3 265.3 264.0 2 63.7 261.5 259.7 259.5 264.1 263 . 8 267.5 269.8 270.7 273.0 273.3 88.6 95.4 96.6 100.5 102.1 99.0 95.0 90.6 84.9 84.7 85.9 88.1 91.1 283.2 288.8 291.5 294.6 299.5 302.9 307.9 313.0 317.6 322.4 327.6 333.4 342.3 225.9 224.3 223.0 220.8 218.6 217.7 217.7 216.4 217.8 219.5 220.7 220.7 217.6 597.7 608.5 611.2 615.8 620.2 619.5 620.6 619.9 620.3 626.6 634.2 642.2 651.1 5 12 19 26 104.8 104.4 104.7 104.8 272.5 273.8 272.6 272.9 86.6 87.2 88.4 88.9 330.3 331.2 333.4 335.4 221.3 221.9 220.9 219.7 638.2 640.3 642.7 644.1 3P 1OP 17P 24P 31P 105.3 105.4 105.2 105.2 105.6 2 74.4 275.1 273.5 271.7 270.9 89.2 89.9 90.9 91.9 92.5 33 7.7 339. 6 341.7 343.4 346.6 219.3 219.4 218.4 216.8 215.1 646.2 649.0 650.9 652.1 654.2 NOV. DEC. 1979—JAN. FEB. MAR. APR. MAY JUNE JULY AUG. SEPT. P OCT. P Thrift Institutions & 614.6 619.5 624.4 628.7 633.0 638.0 641.0 643.2 64 7.9 652.9 657.5 '662.4 665.7 WEEK ENDING : 1979-SEPT. OCT. 1/ TIME A N D S A V I N G S D E P O S I T S AT A L L C O M M E R C I A L B A N K S . 2/ I N C L U D E S 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 D E P O S I T I S S U E D IN D E N O M I N A T I O N S OF $ 1 0 0 , 0 0 0 OR MORE B Y L A K G E W E E K L Y R E P O R T ING C O M M E R C I A L B A N K S . 3/ I N C L U D E S N O W A C C O U N T S AT C O M M E R C I A L B A N K S . 4/ A V E R A G E OF B E G I N N I N G A N D E N D OF M O N T H D E P O S I T S 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 A N D L O A N S H A R E S , A N D C R E D I T U N I O N S H A R E S , p - PRELIMINARY FEDERAL REMERVE Statistical R«Mrv« H.6 (508) Table 4 Components of Money Stock Measures and Related Items Not Seasonally Adjusted, in Billions off Dollars Demand Deposits Date Currency Total H Domestic 3/ Nonmember Time Deposits Savings CDs 4/ 57 Total Other 95.6 97.3 99.1 97.4 97.6 98.6 99.9 100.6 101.8 103.2 103.9 104.5 105. 1 265.3 265.3 272.2 268.0 254.2 255.1 267.5 258.5 266.4 270.9 267.7 271. 1 273.3 179.4 178.4 183.0 179.3 169.6 170.4 178.5 171.8 177.1 180.5 178.5 179.4 180.5 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 84.4 84.0 86.4 89.8 93.3 282.3 286.0 289.2 294.3 301.1 305.5 309.3 314.9 318.3 321.6 327.1 332.7 341.2 224.2 222.4 220.9 219.9 218.0 218.9 220.1 218.2 219.4 221.4 220.7 218.9 216.0 597.4 604.8 609.7 615.3 618.7 622.0 622.1 622.0 622.2 627.0 634.1 641.4 650.6 5 12 19 26 105.1 104.9 104.3 103.6 270.9 273.8 272.9 266.1 180.2 180.4 180,3 176.5 86.7 89.3 88.2 85.3 87.8 88.5 90.1 91.1 330.2 3.30.9 332.2 334.4 220.1 220.4 218.8 217.3 638.1 639.8 641.1 642.9 3P 10P 17P 24P 31P 104.3 106.4 105.5 104.8 104.3 273.9 276.5 275.9 268.9 269.6 182.0 182.1 181.7 177.4 179.0 87.4 89.6 90.0 87.0 86.3 92.0 92.5 93.2 93.9 94*4 336.9 339.0 340.5 342.3 344.9 217.7 218.4 217.0 215.0 212.7 646.5 649.9 650.7 651.2 652.0 1979—OCT. NOV. DEC. 1979—JAN. FEBo MAR. APR. MAY JUNE JULY AUG. SEPT. P OCT. P WEEK Member Time and Savings Deposit 1/ Other Checkable Deposits & 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 Nonbank Thrift Institutions-7 613.4 616.2 621.4 627.1 631.1 639.2 644.0 644.3 650.3 656.0 657.8 661.4 664.4 U.S. Gov't. Demand $/ 4.2 8*0 10.2 1U9 8.3 6.5 - 5*3 8.4 10.8 13,2 9.8 12.4 11.7 ENDING 1979-SEPT. OCT. 6.3 7.0 12.7 19.6 16.9 9.2 10.6 12.4 12.3 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/ INCLUOES 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; 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) I ATS AccountsOct. NOW Accounts in New York Statej/ 3 7130 2170 10 7225 2240 17 7340 2175 24 7150 2140 31 7095 2150 \j Excluding commercial banks in Massachusetts, New Hampshire, Connecticut, Rhode Island, Maine and Vermont. 2/ Estimates are based on data collected by the Federal Reserve and the FDIC from a stratified random sample of 351 commercial banks.
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