Full text of H.6 Money Stock Measures : September 18, 1981

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FEDERAL RESERVE statistical release
For Immediate Release
K.6 (506)
SEPT.

Table 1

1 8 , 1981

MONEY STOCK MEASURES AND LIQUID ASSETS
Billions of dollars, seasonally adjusted unite otherwiie noted
M1B
MIA

M1-B

M2

Addenda:

M3 ~

L

Shift adjusted

M1-B plus
Date

Currency plus
demand
deposits
plus travelers
checks'

M1-A plus
other
checkable
deposits
(OCDK

M1 B lest
Overnight RPs
shifts to OCD at commercial
from
banks plus
overnight
deposit
Eurodollars4
sources3
NSA

Money market
mutual fund
shares
NSA

overnight RPs
and
Eurodollars.
and savings
and small
time deposits5

M2 plus large
time deposits
and term RPs6

M3 plus other
liquid assets7

382.8
386.4

406.9
411.8

31.7
33.0

80.7
78.2

1633.4

1897.4

1644.9

1912.8

2291.3
2309.0

OCT.
NOV.
BBC.

390.1
391.3
387.7

416.3
419.1
415.6

32.7
32.8
32.4

77.4
77.0
75.8

1654.0
1668.5
1669.4

1928.3
1951.0
1965. 1

2326.0
2355.6
2378.4

1981-JAB.
FEB.
BAB.

375.1
367.2
365.8

419.2
421.2
425.8

415.5
415.0
418.0

32.7
31.9
33.3

80.7
92.4
105.6

1680.8
1695.7
1718.6

1989.3
2009.1
2027.2

2408.7
2433.6
2445.3

APR.
HAY
JUBE

366.6
364.9
361.9

433.7
431.5
428.8

423.9
422.1
419.0

34.3
38.3
39.7

117.1
118.1
122.8

1738.1
1743.4
1749.3

2046.0
2060.8
2079.0

2457.7
2480.1
2504.3

JULY
AUG.

361.3
361.6

430.1
432.2

419.9
421.7

39.2
40.9

134.3
145.4

1760.2
1778.4

2094.1
2118.9

363.9
364.0
360.6
361.6

433.8
434.5
431.1
432.6

41.5
41.2
40.1
41.4

140.4
142.7
145.2
148.2

360.9
360.0

431.8
432.9

40.2
37.6

150.3
152.8

1980-AOG.
SEPT.

fcIEK EMD1BG:
1981-AUG. 5
12
19
26
SEPT. 2 P
9 P

1/

I1CLUDES (1) DEHABD DEPOSITS AT ALL COHHERCIAL BAIKS OTHER THAI THOSE ODE TO DOMESTIC BARKS, THE O.S.
GOVERNBEBT AID POBBIGR BANKS ABO OFFICIAL IBSTIT0TIOBS LESS CASH ITEHS IB THE PBOCESS OF COLLBCTIOB ABO
?.B. FLOAT; (2) C0BRBICT O0TSI0E THE TBEASOBT, F.B. BABKS ABO THE fAOLTS OF CQBBEBCIAL BAIKS; AID
(3) OUTSTANDING TRAVELERS CHECKS OF BOBBABK ISSOEBS.
2/ IC» ABO ATS BALABC2S AT BABKS ABD THRIFT IBSTITOTIOBS, CBEDIT OBIOB SHARE DRAFT BALABCES ABD DEHABD
DEPOSITS AT THRIFT IBSTITOTIOBS. H1-B BILL DIFFER FROB THE SOB OF COfiPOBEBTS PBBSBBTBD IB SOBSEQOBBT
TABLES BI A COBSOLIDATIOB ADJUSTHBBT THAT REPRESEBTS THE AHOOBT OF DBflABD DEPOSITS HELD BT THRIFT
INSTITUTIONS AT COHHSRCIAL BABKS—ABD IBCL0DED IB H1-A—THAT ABB ESTIHATED TO BE USED IB SERVICING
THBIFT OCD LIABILITIES.
3/ B1-B SHIFT ADJUSTED ABSTBACTS FBOH SHIFTS IB 1981 IBTO OCD FBOH SOOBCBS OTHEfi THAB DSBABD DEPOSITS. THE
POBTIOB OF BOT SEASOBALLT ADJUSTED OCD FLOBS ASSOCIATED BITH SHIFTS FROB OUTSIDE DEHAND DEPOSITS IS ASSUflBD
TO BE 22.5 P£RCEBT IB JABUARf ABD 27.5 PERCBBT IB SUBSBQUSBT HOBTBS. FOB DETAILS OF THE ADJUSTHEBT PROCEDURE, SEE "REVISIONS IB THE HOBBY STOCK," FEDERAL RESERVE BULLBTIB, JULY 1961.
4/ OfBRBIGHT (ABD COMI101IG COBTRACT) RPS ABB THOSE ISSUED BY COHHSRCIAL BABKS TO THE HOBBABK PUBLIC, ABD
OVEfcJIGBT EURODOLLARS ARE THOSE ISSUED BY CARIBBBAB BRABCHSS OF HEHBBR BABKS TO U.S. BOBBABK CUSTOHBBS.
5/ IBCLUDES SAVIBGS ABD SHAXL DBBOBIBATIOB TIHB DEPOSITS (TIHE DEPOSITS IB AHOUBTS OF LESS THAB $100,000)
ISSUED BY COHHBRCIAL BABKS ABD THRIFT IHSTITU7I0BS. H2 BILL DIFFEB FROH THE SUH OF COHPOBEBTS PRBSEBIED
IB SUBSEQUENT TABLES BY A COBSOLIDATIOB ADJUSTHBBT THAT REPRESBBTS TBE AHOUBT OF DEBABD DEPOSITS HELD BY
THRIFT IBSTITUT20BS AT COBBERCIAL BABKS.
6/ INCLUDES LABSE DBBOBIBATIOB TIflE DEPOSITS ISSUED BY COBHBBCIAL BABKS ABD THRIFT IBSTITUTIOBS IB ABOUBTS OF
$100,000 OB flOHE, LESS BOLDIBGS OF DOHBSTIC BABKS, THRIFT IBSTITUTIOBS, THE U.S. GOVSBBHBBT, HOBEY BARRET
BUTUAL FUBDS ABD FOREIGN BABKS ABD OFFICIAL IBSTITUTIOBS.
BBVISIOBS TO THE TBBH RP COBPOBEBT OF THIS BEASUBB ABB DESCRIBED AT THE SBD OF TBIS RELEASE.
7/ OTHER LIQUID ASSETS IMC LODE THE BOBBABK PUBLIC? HOLDINGS OF U.S. SAVIBGS BONDS, SHOBT-TSRB TREASURY
SECURITIES, C08BBRCIAL PAPER, BABKBRS ACCEPTABCBS ABD TBBH EURODOLLARS BET OF BOBBY HAfiKBT BUTUAL FUBD
HOLDIBGS OF THESE ASSBTS.
NOTE: P INDICATES PRELIMINARY DATA. SPECIAL CAUTIOB SHOULD BE TAKBH IB IBTSRPBBTIB6 SSBX-TO-NEBK CBABGES IB
BOBBY SUPPLY DATA, BHICH ABB OFTEN HIGBLY VOLATILE ABD SUBJECT TO BBVISIOB IN SUBSEQUENT iBSKS A30
HOBTBS. PRSLX8IBABY DATA ABB SUBJECT TO BSSKLY REVISIONS OBTIL THEY ASB FINAL.
R-




H.6 (506)
Table 1A

MONEY STOCK MEASURES AND LIQUID ASSETS
Billions of dollars, not seasonally adjusted
MIA

Date

Currency plu«
demand
deposits
plus travelers
checksi

M1-B

MI-Aplus
other
checkable
deposits
<0CD) 2

Addenda:

M1B
Shift adjusted

M1-B less
Overnight RPs
shifts to OCO at commercial
from
banks plus
non-demand
overnight
deposit
Eurodollars4
sources3
NSA

M2

Money market
mutual fund
shares'
NSA

M3R

M1 B plus
overnight RPs
and
M2 plus large
Eurodollars,
time deposits
MMMF shares, and term RPs*>
and savings
and small
time deposits5

L

M3 plus other
liquid assets7

381.1
386.6

405.4
412.3

31.7
33.0

80.7
78.2

1630.7
1643.3

1892.6
1909.6

2285.5
2304.8

OCT.
107.
DSC.

391.7
394.1
397.7

418.4
421.9
425.9

32.7
32.8
32.4

77.4
77.0
75.8

1657.5
1666.9
1675.2

1931.4
1952.0
1975.6

2327.0
2353.6
2385.0

1981-JAM.
FEB.
BAB.

378.9
358.7
358.9

423.5
411.5
417.8

419.8
405.3
410.1

32.7
31.9
33.3

80.7
92.4
105.6

1683.6
1685.1
1713.4

1994.9
2000.9
2024.8

2411.5
2426.8
2446.1

APfi.
HAT
JOVE

369.5
359.4
361.1

436.7
424.4
428.4

426.9
415.1
418.7

34.3
38.3
39.7

117.1
118.1
122.8

1745.7
1737.5
1751.5

2052.5
2054.0
2075.6

2467.4
2478.0
2502.9

JOLT
AOG.

363.5
360.2

432.9
430.7

422.7
420.1

39.2
40.9

134.3
145.4

1765.1
1774.8

2094.7
2112.2

364.3
365.3
360.2
355.0

434.7
436.5
430.6
424.9

41.5
41.2
40.1
41.4

140.4
142.7
145.2
148.2

358.3
363.7

429.1
437.5

40.2
37.6

150.3
152.8

1980-AUG.
SEPT.

BE2K EMDIVG:
1981-AOG. 5
12
19
26
SEP1. 2 P
9 P

MOTE:

SEE TABLE 1 FOR FOOTMOTES.




H.6 (508)
Table 2

MONEY STOCK MEASURES AND LIQUID ASSETS
f

Wt V W ' I

^

V I IW1 * 3 v

W ^

WWW^^#i • % • • • *

W^f I W ^ ^W^4

M i l l 1^1 M l

• W %W W

M1-A

Date

Currency plus
demand
deposits
plus travelers
checksi

M1-B

MI-Aplus
other checkable
deposits at banks
and thrift
institutions 2

M2
MI-Bplus
overnight RPs
and Eurodollars,
MMMF shares, and
savings and small
time deposits at
commercial banks
and thrift
institutions 5

M3R
M2 plus large
time deposits
and term RPs at
commercial banks
and thrift
institutions 6

-

AUG. FROM:

MAY

1 9 8 1 (3 MONTHS PREVIOUS)

-3.6

0.6

8.0

11-2

FEB.

1981

(6 MONTHS PREVIOUS)

-3.1

5.2

9.8

10.9

A3G.

1980

(12 MONTHS PREVIOUS)

-5.5

6.2

8.9

11.7

FOUR WEEKS ENDING:
SEPT. 9 , 1981
FROM FOUR WEEKS ENDING:

JUNE

10,

1981

(13 WEEKS PREVIOUS)

-2.5

2.2

MAR.

1 1 , 1981

(26 WEEKS PREVIOUS)

-3.4

4.0

SEPT.

10,

(52 WEEKS PREVIOUS)

-6.1

5.7

NOTE:

1980

SEE TABLE 1 FOR FOOTNOTES.




H.6 (508)
Table 3

COMPONENTS OF MONEY STOCK MEASURES AND LIQUID ASSETS
Billions of dollars, seasonally adjusted unless otherwise noted
Travelers
checks3

Other
checkable
deposits4

Overnight
RPs
(net)»

Overnight
Eurodollars9

NSA

NSA

Money
market
mutual
funds7
NSA

Savings deposits
at
at
thrift
commercial
banks
Institutions

Small denomination time deposit*8
at
at
thrift
commercial
total
banks
Institutions

Currency1

Demand
depoalts2

113.4
113.8

265.4
268.6

3.9
4.0

24.2
25.5

27.9
29.3

3.8
3.7

80.7
78.2

189.0
190.1

215.6
217.9

404.6
407-9

273.5
275.2

440.1
442.9

713.6
718.1

OCT.
NOV.
DEC.

114.9
115.7
116.1

271.2
271.6
267.4

4.0
4.1
4.2

26.3
27.9
28.1

28.3
28.1
27,9

4.4
4.7
4.5

77.4
77.0
75*8

190.3
191.4
185.1

217.5
214.7
207.9

407.8
406.1
393.0

277.8
284.7
292.4

446.3
453.3
464.4

724.0
738.0
756.8

1981-JAN.
FEB.
MAR.

116.6
117.2
117.9

254.4
245.8
243.5

4.2
4.2
4.4

44.3
54.3
60.2

27.5
27,0
28.7

5.2
4.9
4.6

80.7
92.4
105.6

177.2
173.9
172.4

199.8
197.0
196.0

376.9
370.8
368.3

302.4
306.5
310.7

473.3
476.9
478.7

775.7
783.3
789.4

APR.
HAY
JUNE

118.9
119.8
119.9

243.1
240.7
237.9

4.6
4.4
4.2

67.3
66.9
67.1

29.3
31.8
33.3

5.0
6.5
6.4

117.1
118.1
122.8

172.0
169.7
166,. 3

195.0
191.4
187.7

367.0
361.1
354.0

312.1
316.2
322.0

477.9
482.2
485,7

790.0
798.4
807.7

JULY
AUG.

120.8
121.1

236.4
236.2

4.1
4.3

69.0
70.8

32.3
33.1

6.9
7.8

134.3
145.4

164.7
160.6

184.4
180.7

349.0
341.3

325.9
334.4

485.6
488.1

811.5
822.5

121.2
121.1
121.2
121.3

238.5
238.5
235.0
235.8

70.2
70.8
70.7
71.3

33.2
33,0
32.3
34.4

8.3
8.1
7.9
7.0

140.4
142.7
145.2
148.2

162.7
161.8
160.8
159.7

330.0
333.3
334.7
336.1

120.8
121.5

235.7
234.1

71.2
73.2

32,5
30.8

7.7
6.8

150.3
152.8

158.8
156-4

337.6
338.6

Date

1980-AUG.
SEPT.

total

WEEK ENDING:

1981-AUG.

SEPT.

1/
2/

3/
4/
V

6/
7/
8/

5
12
19
26
2P
9 P

CURRENCY OUTSIDE THE U.S. TREASURY, P.R. BANKS AND VAULTS OF COMMERCIAL BANKS.
2«!!Ji NI L DEP0SITS A T C0 * M ERCIAL BANKS AND FOREIGN RELATED INSTITUTIONS OTHER THAN THOSE DOE TO DOMESTIC BANKS, THE U.S. GOVERNMENT AND FOREIGN BANKS AND OFFICIAL INSTITUTIONS LESS CASH ITEMS IN THE PBOCESS OF COLLECTION AND F.E. FLOAT.
OUTSTANDING AMOUNT OF U.S. DOLLAR-DENOMINATED TRAVELERS CHECKS OF NONBANK ISSUERS.
INCLUDES ATS AND NOW BALANCES AT ALL INSTITUTIONS, CREDIT UNION SHARE DRAFT BALANCES AND DEMAND DEPOSITS AT THRIFT INSTITU11**1'* ° T H E R C H 2 C KABLE DEPOSITS SEASONALLY ADJUSTED EQUALS M1-B SEASONALLY ADJUSTED LESS M1-A SEASONALLY ADJUSTED, PLUS
THE M1-B CONSOLIDATION COMPONENT.
i!fov^E-,^n??No(!HT A N D C 0 N T I N U : ™ G CONTRACT RPS ISSUED TO THE NONBANK PUBLIC BY COMMERCIAL BANKS, NET OF AMOUNTS HELD BY HONEY
nAnJ\£l MUTUAL FUNDS.
ISSUED BY CARIBBEAN BRANCHES OF U.S. MEMBER BANKS TO U.S. NONBANK CUSTOMERS.
TOTAL MONEY MARKET MUTUAL FUND SHARES OUTSTANDING.
SMALL DENOMINATION TIME DEPOSITS ARE THOSE ISSUED IN AMOUNTS OF LESS THAN $100,000.




H.6 (508)
Table 3-continued

COMPONENTS OF MONEY STOCK MEASURES AND LIQUID ASSETS
millions or aouars, seasonally aa usiea unless onlerwise noiea
Large denomination time deposits1
at commercial
at thrift
Date
banks2
total
institutions

at commercial
banks
NSA

Term RP$3 "
at thrift
institutions
NSA

total
NSA

Term
Eurodollars
(net)4
NSA

Savings
bonds

Short-term
Treasury
securities^

Bankers
Commercial
paper7
acceptances^

191.4
194.1

38.2
39.2

229.6
233.4

27.9
27.3

6.6

34.5

7.2

34.5

48.3
45-1

73.2
73.0

146.7
149.9

28.8
29.7

96.8
98.5

OCT.
MOV.
DEC.

196.8
202.8
212.5

41.0
42.6
44.2

237.7
245.4
256.8

28.7
29.0
30.5

7.9
8.1
8.5

36.5
37.1
36.9

45.2
46.3
48.4

72.8
72.6
72.3

150.2
154.6
159.4

30.6
31.3
32.5

98.9
99.8
100.2

1981-JAN.
FEB.
HAfi.

222.5
227.3
224.3

45.5
46.6
46.7

268.0
273.9
271.0

31.9
31.3
29.3

8.5
8.1
8.3

40.4
39.5
37.6

50.2
52.2
52*2

71.9
71.1
70,7

165.1
169.9
164.6

33.0
32.0
33.0

99.2
99.4
97.6

APR.
HAY
JUKE

222.6
229.5
239.1

46.9
47.8
48.2

269.5
277.2
287.3

29.6
30.5
31.5

8.9
9.7
10.9

38.5
40.2
42.4

52.6
57.0
59.5

70.4
69.9
69.7

157.6
157.5
160.3

34.6
35.7
36.5

96.5
99.1
99.3

JOLY
AUG.

241.8
247.6

48.5
49.2

290.4
296.8

30.6
28.5

12.9
15.2

43.5
43.7

1980-AUG.
SEP1.

MEEK ENDING:

1981-AUG.

SEPT.

1/
2/
3/
4/
5/
6/
7/

5
12
19
26
2 P
9 P

246.2
246.7
246.9
247.4

29.1
28.6
28.4
28.0

250.0
249.9

28.3
28.9

LAfiGE DENOMINATION TIME DEPOSITS ABE THOSE ISSUED IN AMOUNTS OF $100,000 Ofi MORE.
LAfiGE DENOMINATION TIME DEPOSITS AT COMMERCIAL BANKS LESS LAfiGE TIME HBLD BY HONEY MA&KET MUTUAL FUNDS AND THRIFT INSTITUTIONS.
TERM RPS ARE THOSE WITH ORIGINAL MATURITY GREATER THAN ONE DAY AND EXCLUDE CONTINUING CONTRACTS.
REVISIONS TO THIS COMPONENT ARE DESCRIBED AT THE END OF THIS RELEASE.
TERM EURODOLLARS ARE THOSE KITH ORIGINAL MATURITY GREATER THAN ONE DAY NET OF TERM EURODOLLARS HELD BY HONEY MARKET MUTUAL
FUNDS.
INCLUDES U.S. TREASURY BILLS AND COUPONS WITH REMAINING MATURITY OF LESS THAN 18 MONTHS HELD BY THE NONBANK PUBLIC LESS SUCH
SECURITIES HELD BY MONEY MAfiKET MUTUAL FUNDS.
NET OF BANKERS ACCEPTANCES HELD BY ACCEPTING BANKS, F.R. BANKS, FOfiEIGN OFFICIAL INSTITUTIONS, THE FEDERAL HOME LOAM BANK
SYSTEM, AND MONEY MARKET MUTUAL FUNDS.
TOTAL COHHERCIAL PAPER LESS COMMERCIAL PAPER HELD BY HONEY HABKET MUTUAL FUNDS.




H.6 (508)
Table 3A

COMPONENTS OF MONEY STOCK MEASURES AND LIQUID ASSETS
Date

1

Currency

at member
banks2

Demand deposits
at foreignat domestic
related
nonmember
banking
3
offices
banks
In the U.S.4
5.8
88.1

total

Travelers
checks8

at

at thrift

commercial
banks*

Institutions7

total

Overnight
RPs(net)»

Overnight
Eurodollar^ mutual funds10

113.7
113.7

169.1

173.0

89.8

5.8

263.0
268.6

4.4
4.3

17.7
18.7

6.8
7.1

24.4
25.9

27.9
29.3

3.8
3.7

80.7
78.2

OCT.
NOV.
DEC.

114.9
116.7
118.4

175.6
175.4
177.0

91.5
92.8
93.0

5.7
5.3
5.4

272.8
273.5
275.4

4.1
3.9
3.9

19.6
20.5
20.9

7.3
7.5
7.4

26.8
28.0
28.3

28.3
28*1
27.9

4.4
4.7
4.5

77.4
77.0
75.8

1981-J1N.
FEB.
HAB.

115.7
115.8
116.8

165.9
151.0
150.6

88.0
82,8
82.1

5.4
5.1
5.2

259.2
238.9
237.9

4.0
4.0
4.2

35.7
42.9
48.0

9.1
10.1
11.1

44.8
53.0
59.2

27.5
27.0
28.7

5.2
4.9
4.6

80.7
92.4
105.6

APE.
MAY
JOHE

118.4
119.3
119.9

156.2
148.0
149.1

85.7
82.8
82.6

4.8
5.1
5.3

246.8
235.9
237.0

4.3
4.2
4.3

54.9
52.5
54.2

12.6
12.8
13.3

67.5
65.3
67.6

29.3
31.8
33.3

5.0
6.5
6.4

117.1
118.1
122.8

JULY
AUG.

121.4
121.4

150.4
147.9

81.9
80.8

5.1
5.4

237.4
234.1

4.7
4.7

55.7
56.4

14.0
14.4

69.7
70.8

32.3
33.1

6.9
7.8

134.3
145.4

121.7
122.6
121.8
120.5

150.7
151.0
147.1
145.3

81.8
81.9
81.0
79.1

5.3
5.1
5.8
5.5

237.8
238.1
233.9
229.9

56.4
57.0
56,4
56.0

14.5
14.5
14.2
14.2

70.8
71.5
70.6
70.1

33.2
33.0
.32.3
34.4

8.3
8.1
7.9
7.0

140.4
142.7
145.2
148.2

120.2
123.0

147.1
. 148.7

80.4
82.4

6.1
5.1

233.6
236.2

56.6
58.8

14.5
15.3

71.1
74.1

32.5
30.8

7.7
6.8

150.3
152.8

1980-10G.
SEPT.

MEEK ENDING:

1981-AUG.

SEPT.

1/
2/
3/
4/
5/
6/
7/
8/
9/
10/

5
12
19
26
2 P
9 P

CURRENCY OUTSIDE THE U.S. TREASURY, F.R. BANKS AND THE VAULTS OF COMMERCIAL BANKS.
DEMAND DEPOSITS OTHER THAN THOSE DUE TO DOMESTIC BANKS, THE U.S. GOVERNMENT AND FOREIGN BANKS AND OFFICIAL INSTITUTIONS LESS
CASH ITEMS IN THE PROCESS OF COLLECTION AND F.R. FLOAT AT MEMBER BANKS OF THE FEDERAL RESERVE SYSTEM.
DEMAND DEPOSITS OTHER THAN THOSE DUE TO DOMESTIC BANKS, THE U.S. GOVERNMENT AND FOREIGN BANKS AND OFFICIAL INSTITUTIONS LESS
CASH ITEMS IN THE PROCESS OF COLLECTION AT NONHEHBER BANKS.
DEPOSITS AS DESCRIBED IN FOOTNOTE 3 AT AGENCIES AND BRANCHES OF FOREIGN BANKS, EDGE ACT CORPORATIONS AND FOREIGN INVESTMENT
COMPANIES.
OUTSTANDING AMOUNT OF U.S. DOLLAR-DENOMINATED TRAVELERS CHECKS OF NONBANK ISSUERS.
NOW AND ATS BALANCES AT BANKS.
NOW AND ATS BALANCES AT SAVINGS AND LOANS AND MUTUAL SAVINGS BANKS, CREDIT UNION SHARE DRAFT BALANCES, AND DEMAND DEPOSITS
Al THRIFTS.
INCLUDES OVERNIGHT AND CONTINUING CONTRACT RPS ISSUED TO THE NONBANK PUBLIC BY COMMERCIAL BANKS NET OF AMOUNTS HELD BY HONEY
MARKET MUTUAL FUNDS.
ISSUED BY CARIBBEAN BRANCHES OF U.S. MEMBER BANKS TO U.S. NONBANK CUSTOMERS.
TOTAL MONEY MARKET MUTUAL FUND SHARES OUTSTANDING.




H.6 (508)
Table 3A—continued

COMPONENTS OF MONEY STOCK MEASURES AND LIQUID ASSETS
Savings deposits
at commercial
banks

Date

at savings
and loans

at mutual
savings banks

at
credit unions

total

at commercial
banks

Small denomination time deposits1
at mutual
at savings
at
and loans
savings banks
credit unions

total

190.3
191.0

115.8
117.5

56.4
56.8

45.5
46.0

408.0
411.4

272.1
273.8

338.5
339.8

85.8
86.2

12.6
12.7

709.0
712.5

OCT.
MOV.
DEC.

192.2
190.7
183.7

117.0
113.8
106.9

56.5
55.2
53.4

46.2
45.3
44.2

411.9
405.0
390.2

277.2
282.7
290.7

343.7
349.1
358.0

87.2
88.6
91.2

13.1
14.1
15.5

721.2
734.6
755.2

1981-JAN.
FEB.
BAR.

176.3
171.9
171.3

103.3
101.0
101.7

51.7
50.7
50.8

42.9
42.0
41.9

374.2
365.6
365.7

301.8
308.3
312.5

365.3
367.9
369.3

93.3
94.1
94.7

16.5
17.4
18.3

776.9
787.7
794.8

APR.
HAY
JUNE

172.2
169.2
166.6

101.7
99.6
98.5

50.8
49.9
49.5

41.7
41.0
40.7

366.4
359.7
355.4

313.3
318.1
323.6

368.5
368.6
369.4

94.5
94.8
95.6

18.9
19.6
20.3

795.2
801.0
808.9

JULY
AUG.

166.1
161.9

97.6
95.2

49.1
48.1

40.0
39.1

352.8
344.3

325.6
332.8

367.6
367.2

95.8
96.0

20.8
21.3

809.8
817.3

1980-AUG.
SEPT.

WEEK ENDING:

1981-AUG.

SEPT.

1/

5
12
19
26
2 P
9 P

163.9
163.1
162.0
160.6

328.8 .
331.7
333.1
334.2

159.7
159.5

335.7
336.8

SHALL DENOMINATION TIHfi DEPOSITS ARE THOSE ISSUED IN AMOUNTS OF LESS THAN $100,000.




H.6 (508)
Table 3A—continued

COMPONENTS OF MONEY STOCK MEASURES AND LIQUID ASSETS
Large denomination time deposits1
at
at mutual
at savings
savings
total
commercial
banks2
and loans
banks

Date

Term RPs3
at
commercial
banks

at thrift
institutions

total

Term
Eurodollars
(net)4

Savings
bonds

Short-term I Bankers
Commercial
Treasury acceptances^
Paper7
securities^

191.8

35.0
35.9

4.0
4.1

227.4
231.8

27.9
27.3

6.6
7.2

34.5
34.5

48.3
45.1

73.2
73-1

147.0
150.2

28.8
30.0

95.6
96.8

OCT.
NOV.
DEC.

196.0
205.6
217.8

37.1
38.0
39.1

4.2
4.4
4.5

237.4
248.0
261.4

28.7
29.0
30.5

7.9
8.1
8.5

36.5
37.1
38.9

45.2
46.3
48.4

73.0
72.9
72.7

148.5
150*8
156.8

30.8
31.3
31.4

98.1
100.3
100.0

1981-JAN.
FEB.
MAR.

225.8
230.5
227.7

40.4
41.1
41.3

4.6
4.7
4.7

270.8
276.3
273.8

31.9
31.3
29.3

8.5
8.1
8.3

40.4
39.5
37.6

50.2
52.2
52.2

71.9
71.1
70.6

163.1
168.9
166.4

32.1
33.3
33.9

99.3
100.4
98.2

APR.
MAY
JUNE

221.9
228.5
233.1

41.6
42.7
43.4

4.8
5.0
5.1

268.3
276.3
281.6

29.6
30.5
31.5

8.9
9.7
10.9

38.5
40.2
42.4

52.6
57.0
59.5

70.1
69.7
69.4

160.9
161.9
162.4

34.7
35.4
36.2

96.6
100.0
99.9

JULY
AUG.

236.7
243.7

44.0
44.6

5.3
5.5

286.1
293.8

30.6
28.5

12.9
15.2

43.5
43.7

1980-AUG.
SEPT.

188.5

WEEK ENDING:
1981-AUG.

SEPT.

1/
2/
3/
4/
5/
6/
7/

5
12
19
26
2 P
9 P

241.3
242.7
243.4
244.4

29.1
28.6
28.4
28.0

246.9
246.5

28.3
28.9

LARGE DENOMINATION TIME DEPOSITS ABE THOSE ISSUED IN AMOUNTS OF $100,000 OR MORE.
LARGE DENOMINATION TIME DEPOSITS AT COMMERCIAL BANKS LESS LARGE 1IME HELD BY HONEY MARKET MUTUAL FUNDS AND THBIFT
INSTITUTIONS.
TERM RPS ARE THOSE WITH ORIGINAL MATURITY GREATER THAN ONE DAY AND EXCLUDE CONTINUING CONTRACTS.
TERM EURODOLLARS ARE THOSE HITH ORIGINAL MATURITY GREATER THAN ONE DAY NET OF TERM EURODOLLARS HELD BY MONEY MARKET MUTUAL
FUNDS.
INCLUDES U.S. TREASURY BILLS AND COUPONS HITH REMAINING MATURITY OF LESS THAN 18 MONTHS HELD BY THE NONBANK PUBLIC LESS SUCH
SECURITIES HELD BY MONEY MARKET MUJ.tiJkL FUNDS.
NET OF BANKERS ACCEPTANCES HELD BY ACCEPTING BANKS, F.R. BANKS, FOREIGN OFFICIAL INSTITUTIONS, THE FEDERAL HOME LOAN BANK
SYSTEM, AND MONEY MARKET MUTUAL FUNDS.
TOTAL COMMERCIAL PAPER LESS COMMERCIAL PAPEP HELD BY MONEY MARKET MUTUAL FUNDS.




H.6 (508)
Table 4

MEMORANDA ITEMS
Billions of dollars, not seasonally adjusted
Demand deposits at banks due to
foreign commercial
banks

Date

1980-AUG.
SEPT.

foreign official
institutions

Time and savings
deposits due to
foreign commercial
banks and foreign
official institutions

demand deposits at
Federal Reserve
commercial banks
Banks

U.S. government deposits
note balances at
commercial
banks and thrift
institutions

total demand
deposits and
note balances

time and
savings deposits at
commercial banks

11.7
11.6

3.3

2.9

11.1
11.5

2.4

2.9

3.3
3.3

6.5
11.0

12.3
17.1

0.8

11.9

0.8

OCT.
NOV.
DEC.

12.5
12.7

3.0
3.4
3.7

11.6
11.5
11.5

2.8
2.5
2.8

3.2
3.0
2.7

9.7
4.1
6.3

15.8
9.6
11.7

0.8
0.8
0.8

1981-JAN.
FEB.
MAR.

12.0
12.9
12.1

3.5
3.6
3.4

11.3
11.3
11.1

2.9
2.9
2.9

3.2
3.3
3.0

5.1
5.4
7*5

11.2
11.5
13.4

0.8
0.8
0.8

APE.
HAY
JUNE

12.4
12.4
13.0

3.8
3.3
3.5

11.0
11.2
11.2

3.9
3.0
3.3

3.4
3.3
3.0

8.3
9.5
9.1

15.6
15.8
15.4

0.7
0.7
0.8

JULY
AOG.

12.7
12.8

3.3
3.3

10.6
10.2

2.8
2.7

3.1
3.2

7.9
4.8

13.8
10.7

0.6
0.8

13.0
12.7
13.2
13.3

3.0
3.5
3.4
3.3

10.1
10.1
10.2
10-2

3.3
2.5
3.2
2.4

3.0
3.6
3.0
3.1

6.9
3.1
3.6
6.5

13.2
9.2
9.8
12.0

0.8
0.8
0.8
0.7

11.6
12.9

3.1
4.1

10.4
10.3

2.3
3.1

3.4
2.8

4.1
1.9

9.8
7.8

0.7
0.8

WEEK ENDING:

1981-AOG.




SEPT.

5
12
19
26
2 P
9 P

SPECIAL SUPPLEMENTARY TABLE
Variable Ceiling Time Deposits at All Insured
Commercial Banks and All Mutual Savings Bank
June 24, 1981, July 29, 1981, and August 2 6, 1981
(Not Seasonally Adjusted)*

Insured Commercial Banks
June 24
July 29
August 26r

June 24

Mutual Savings Bank
July 29
August 26r

Amount Outstanding:
(millions of dollars)
6-month woaey market certificates^
(Standard error of the estimate)
2-1/2 year and over variable ceiling
certificates^
(Standard error of the estimate)

211,180
(1,697)
36,721
(957)

218,388
(1,764)
37,235
(960)

225,468
(1,833)
39,551
(946)

53,600
(608)
13,680
(517)

55,812
(619)
13,2 92
(383)

53,906
(490)
14,837
(263)

14,352

14,324

14,315

457

455

454

14,352

14,324

14,315

457

455

454

97.7

96.29

98.1

98.05

78.86

Number of Offering Institutions:
6-month money market certificates2-1/2 year and over variable ceiling
certificates

Percent of Offering Institutions
Paying the Ceiling Rate During the
Survey Period:
2-1/2 year and over variable ceiling
certificates

78.17

r — Revised .
\J Estimates for July are based on data collected by the Federal Reserve and the FDIC from a stratified random sample
of 551 banks and 102 mutual savings banks.
2/ Money market certificates (MMCs) are nonnegotiable time deposits in denominations of $10,000 or more with original
maturities of exactly 26 weeks for which the maximum permissable rate of interest on new deposits is related to the
discount yield on the most recently issued 6-month Treasury bill (auction average). See Table 1.16 in the Federal
Reserve Bulletin for specific ceiling rates.
3_/ This category includes all 4-year and over variable ceiling accounts having no legal minimum denomination issued
between July 1 and December 31, 1979 and all such 2-1/2 year and over variable celling accounts issued since January 1,
1980. See Table*!.16^4n the Bulletin for specific ceiling rates.



SPECIAL NOTE
According to a survey conducted by the Federal Reserve, the level of " r e t a i l
RPs11

on August 31 at commercial banks, mutual savings banks, and savings and

loan associations totaled $11.1 b i l l i o n .

Of this amount, $3.5 b i l l i o n was

at commercial banks, $1.3 b i l l i o n at mutual savings banks, and $6.3 b i l l i o n
at savings and loan associations.

"Retail RPs11 are repurchase agreements

involving securities of the U.S. Government and federally sponsored agencies
in denomination of less than $100,000 and with maturities of less than 90
days.

These instruments have been promoted actively in recent months.

Sta-

t i s t i c a l methods using previously available data to estimate the published
RP components of the money stock did not capture the f u l l extent of r e t a i l
RP a c t i v i t y .

The new data result in a $6.5 b i l l i o n upward revision in the

average level of term RPs and of M3 in August.

Back data for those series

also have been revised to r e f l e c t the benchmarking.

Consideration is being

given to incorporating the figures on small denomination term RPs in the M2
series,which has not heretofore included such instruments.