Full text of H.6 Money Stock Measures : October 18, 1979

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F E D E R A L R E S E R V E statistical release
FEDERAL RESERVE StaMtttoal

MONEY STOCK HEASUftlES

OCT.

IM ifUJQMS OF DOLLARS
M-1
Currency
Plus
Demand
Deposits y

Date

M-1 +

M-2

M-3

M A

M-1 Plus
M-1 Plus
Savings
M-2 Plus
Time
M-2 Plus
Deposits at Deposits at Deposits at
Large
Commercial
CB's and
Nonbank
Negottebfe
Checkable Banks O r w
Thrift
CD's 5/
Deposits at Than Large Institutions^/
Thrift Inst. 2/
CD's 2/

r-1
M-3 Plus
Large

Currency
Pius
Dsmond

CD's 5/

M-1 + "
M-1 Plus
Savings
Deposits at
CB's and
Checked
Deposits at
Thrift Inst. 2/

18, 1979

M-3

M-5

M-1 Plus
M-2 Plus
Time
M-2 Plus
Deposits at Deposits at
Large
Commercta!
Nonbank
Negotiate
Banks Other
Thrift
CD's 5/
Than Large Institutions-*/
CD's!/

M-3 Plus
Large
Negotiable
CD's £/

M-2

Mnt Jtumom llv AfUuafcMl
1978—SEPT.
OCT.
NOV.
DEC.
1979—-JAN.
FEB.
MAR.
APR.

*
j
'
'

MAY

JUNE
JULY
AUG.
SEPT. P

i

360.7
361.2
360.6
361.2
359.7
358.6
359.0
364.3
364.5
369.0
T372.2
374.3
r377.8

589.5
589.9
587.8
587.2
583.4
580.1
579.6
585.1
584.1
590.1
595.1
598.3
r601.9

865.6
870.2
873.7
875.8
875.0
876.7
879.5
889.8
893.8
904.4
914.1
922.5
r 931.9

375.4
374.2
374.3

599.5
598.3
598.5

923.2
922.7
924.0

377.3
378.2
377.7

602.0
603.5
601.6
r600.8

r380.4
383.2

r603.1
605.7

1474.1
1484.8
1493.1
1500.1
1503.7
1509.7
1517.5
1530.8
1537.0
1552.3
1567.0
1580.0
r 1594.8

954.1
958.8
969.1
972.4
975.5
978.8
978.5
984.8
984.4
989.3
r 998.8
1008.4
r 1020.0

1562.6
1573.4
1588.6
1596.7
1604.2
1611.8
1616.5
1625.9
1627.6
1637.2
1651.7
1666.0
r 1682.8

358.5
361.0
362.6
371.3
365.4
351.9
353.7
367.4
359.1
368.2
r 374.1
371.6
r 375.6

585.5
588.1
587.9
595.2
588.3
572.8
575.6
590.7
580.6
591.0
598.8
595.6
r 597.9

861.1
867.5
871.0
881.5
879.6
871.0
878.2
896*8
892.1
906.0
917.0
919.3
r 927.2

1008.8
1008.7
1010.6

375.1
371.1
366.4

599.6
595.1
589.8

922.6
918.8
915.0

1008.4
1005.4
1002.6

928.9
931.3
931.6
r 932.9

1015.6
1018.5
1019.9
|r 1021.8

376.0
378.7
377.2
369.6

599.5
602.5
599.4
r590.4

926.3
93 0.0
928.3
r 921.4

1014.1
1018.6
1018.3
* 1012.5

r 937.4
941.9

r 1026.6
1031.8

r378.9
385.5

r 600.0
607.0

r 933.5
942.6

r1025.5
1035.1

146 8. 6
1480.9
1487.2
1502.8
1506.8
1502.1
1517.4
1540.8
1536.4
1556.3
1573.0
1577.1
r 1589.0

951.4
958.3
967.4
981.0
980.7
970.6
975.7
989.5
981.1
990.4
1001.0
1005.7
r1017.0

1558.9
1571.7
1583.5
1602.4
1607.9
1601.7
1614.9
1633.5
1625.4
1640.7
1657.0
1663.5
r 1678.8

WEEK ENDING:
1979-AUG.

SEPT.

15
Zl
29

,:

5

!

12
19
26

OCT.

3P
1OP

1 377.3

1/ INCLUDES (1) DEMAND DEPOSIT;. 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/ INCLUOES, 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.
http://fraser.stlouisfed.org/
P - PRELIMINARY; R - REVISED
Federal Reserve Bank of St. Louis

Table 2

FEDERAL RESERVE Statistical ( M N M 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. 2/

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

M-2 Plus Deposits
at Nonbank Thrift
Institutions!/

M-2 Plus Large
Negotiable CD's 5/

M-3 Plus Large
Negotiable CD's ay

SEPT. FROM:
JUNE

1979

( 3 MONTHS PREVIOUS)

9.5

8.0

12.2

11.0

12.4

MAR.

1979

( 6 MONTHS PREVIOUS)

10.5

7.7

11.9

10.2

8.5

8.2

7.7

8.2

6.9

7.7

SEPT.

1978'

( 1 2 MONTHS PREVIOUS)

FOUR WEEKS ENDING: OCT. 10*
FROM FOUR WEEKS ENDING:

4.7

2.1

1979

JULY

lit

WEEKS PREVIOUS)

10.3

7.2

12.2

12.9

APR.

1 1 , 1 9 7 9 ( 2 6 WEEKS PREVIOUS)

11.0

7.7

12.2

9.3

OCT.

1 1 , 1 9 7 8 ( 5 2 WEEKS PREVIOUS)

5.1

2.1

7.8

7.2

1979(13

ll.l

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 ANO 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 OEMAND 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 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 Statistical Release H.6

Table 3

COMPONENTS OF MONEY STOCK MEASURES AND RELATED ITEMS
SEASONALLY ADJUSTED,IN BILLIONS OF DOLLARS
Time and Savings Deposits V
Currency

Date

Demand
Deposits

Time Deposits
Savings 3/
CD's 2/

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

Total

Nonbank
Thrift
Institutions ^

Other

95.2
95.3
96.6
97.5
98.2
98.9
99.4
100.2
100.7
101.5
102.4
103.6
104.8

265.5
265.3
264.0
263.7
261.5
259.7
259.5
264.1
263.8
267.5
269.8
270.7
r 273.0

88.5
88.6
95.4
96.6
100.5
102.1
99.0
95.0
90.6
84.9
84.7
85.9
88.1

278.9
283.2
288.8
291.5
294.6
299.5
302.9
307.9
313.0
317.6
322.4
327.6
r 333.4

226.0
225.9
224.3
223.0
220.8
218.6
217.7
217.7
216.4
217.8
219.5
220.7
r220.8

593.5
597.7
608.5
611.2
615.8
620.2
619.5
620.6
619.9
620.3
626.6
634.2
r 642.2

15
22
29

103.5
103.8
103.9

271.9
270.4
270.5

85.5
86.1
86.7

327.1
327.8
328.8

220.8
220.7
220.8

633.4
634.6
636.3

SEPT.

5
12
19
26

104.8
104.4
104.7
104.8

272.5
273.8
272.6
r 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
r644.1

OCT.

3P
10P

105.3
105.4

r275.1
277.8

r89.2
89.9

337.7
339.6

r 219.3
219.1

r646.2
648.6

608.5
614.6
619.5
624.4
628.7
633.0
638.0
641.0
643.2
647.9
652.9
657.6
662.8

WEEK ENDING:

1979-AUG.

1/ TIME AND SAVINGS DEPOSITS AT ALL COMMERCIAL BANKS.
2/ INCLUDES NEGOTIABLE TIME CERTIFICATES OF DEPOSIT ISSUED IN DENOMINATIONS OF SlOOrOOO OR MORE BY LARGE WEEKLY REPORTING COMMERCIAL BANKS.
3/ INCLUOES NOW ACCOUNTS AT COMMERCIAL BANKS.
4/ AVERAGE OF BEGINNING AND END OF MONTH DEPOSITS AT MUTUAL SAVINGS BANKSt SAVINGS 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 U

Demand Deposits
Date

Currency

57

Total^

Member

Domestic
Nonmember

Time Deposits
Savings-^

CD's 47

Other

Total

Other
Checkable
Deposits^

Nonbank
Thrift
Institutions^/

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

94.9
95.6
97.3
99.1
97.4
97.6
98.6
99.9
100.6
101.8
103.2
103.9
104.5

263.6
265.3
265.3
272.2
268.0
254.2
255.1
267.5
258.5
266.4
270.9
267.7
r 271.0

178.3
179.4
178.4
183.0
179.3
169.6
170.4
178.5
171.8
177.1
180.5
178.5
r 179.4

81.4
82.2
83.2
85.2
84.6
80.7
80.6
85.1
82.6
84.8
86.1
85.3
87.4

90.3
90.8
96.4
99.5
101.1
99.6
97.5
92.6
88.9
84.4
84.0
86.4
89.8

278.4
282.3
2 86.0
289.2
294.3
301.1
305.5
309.3
314.9
318.3
321.6
327.1
r 332.7

224.2
224.2
222.4
220.9
219.9
218.0
218.9
220.1
218.2
219.4
221.4
220.7
218.9

592.9
597.4
604.8
609.7
615.3
618.7
622.0
622.1
622.0
622.2
627.0
634.1
r 641.4

15
22
29

104.3
104.0
102.9

270.8
267.2
263.4

180.7
178.0
175.8

86.3
85.2
83.9

85.8
86.6
87.6

r 326.4
327.1
328.6

221.1
220.6
220.0

633.3
634.3
636.3

7.6
10.1
9.9

SEPT.

5
12
19
26

105.1
104.9
104.3
103.6

270.9
273. 8
272.9
r 266.1

180.2
180.4
180.3
176.4

86.7
89.3
88.2
85.3

87.8
88.5
90.0
91.1

330.2
330.9
332.3
334.4

220.1
220.4
218.8
217.3

638.1
639.8
641.1
r 642.9

6.3
7.0
12.7
19.6

OCT.

3P
10P

104.3
106.3

r 274.6
279.2

r182.7
184.7

r 87.4
89.5

r 92.0
92.5

336.9
338.9

r 217.7
218.1

r 646.5
649.6

r 16.9
9.2

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

2.8
2.9
2.9
3.0
2.9
2.9
3.0
3.2
3.3
3.3
3.4
3.4
3.4

607.5
613.4
616.2
621.4
627.1
631.1
639.2
644.0
644.3
650.3
656.0
657.8
661.8

6.2
4.2
8.0
10.2
11.9
8.3
6.5
5.3
8.4
10.8
13.2
9.8
12.5

WEEK ENDING:

1979-AUG.

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 BANKSt 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)—
and NOW Accounts in New York State
(Amounts outstanding, million of dollars,
insured commercial banks)
2/
ATS Accounts—
Sept.

Oct.

jL/
_2/

2/

NOW Accounts in New York State

12

7265

2150

19

7170

2135

26

6945

2040

3

7130

2169r

10

7227

2239

Excluding commercial banks in Massachusetts, New Hampshire, Connecticut, Rhode
Island, Maine and Vermont.
Estimates are based on data collected by the Federal Reserve and the FDIC from
a stratified random sample of 351 commercial banks.




SPECIAL SUPPLEMENTARY TABLE*
Money Karket CertificatesAll Insured Commercial Banks and All Mutual Savings Banks
As of August 29, 1979 and September 26, 1979

Commercial

Mutual Savings

Banksl/
August 29

Banksl/

September 26

August 29

September 26

4/
Amount outstanding^
(millions of dollars)

71,813

80,511

26,748

27,899

Number of institutions
offering

12,980

13,001

460

459

95*8

83.8

99.7

87.0

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

*
1/

2/

3/
k)

The survey collecting these data has been conducted as of the last Wednesday
of each month since June 1978,
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 is one-quarter
percent higher. This new category of deposits was authorized beginning on
June 1, 1978.
Estimates for all insured commercial banks in September are based on data
collected by the Federal Reserve and the FDIC from a stratified random
sample of 530 banks.
Estimates for all mutual savings banks in September are based on data collected by the FDIC from a stratified random sample of about 95 banks.
For September 26, the standard error associated with the dollar estimates for
commercial banks is about $3.0 billion, and for mutual savings banks the
standard error is about $585 million. For August 29, the standard errors
for commercial banks and mutual savings banks are $1.3 billion and $530
million, respectively.