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L.4.3 Not for Publication November 1978 «s BANKING AND MONETARY DEVELOPMENTS October 1978 Banking Section Division of Research and Statistics Board of Governors of the Federal Reserve System Table 1 Changes in Commercial Bank Credit, Money Stock, and Time Deposits (seasonally adjusted annual percentage rates) 1976 ___ 1977 4th Qtr. IstP Qtr. 2ndP Qtr. 1978 3rdP Qtr. P Aug. P Sept. Oct. 9.3 9.9 13.5 10.7 5.1 10.1 10.5 — 11.7 -8.5 32.5 -8.7 -24.9 Year Year 3rd Qtr. Total bank credit^ 8.8 10.9 10.2 US Govt securities 22.3 -2.4 10.4 -20.3 Other securities 2.3 6.6 7.5 4.6 5.3 6.7 8.8 11.0 10.2 7.2 Loans^ 8.4 14.5 14.6 15.5 12.6 15.5 14.0 9.3 12.8 16.3 2.7 12.2 11.2 11.7 17.7 19.2 10.7 11.3 10.2 13.3 Real estate loans 10.3 18.3 18.3 17.8 16.1 17.2 17.1 18.5 15.2 16.2 Consumer loans 12.5 16.7 16.1 15.5 14.6 21.0 n.a. 22.1 13.6 n.a. Business loans Adjusted to Include Loans Sold1 to Selected Affiliates Total bank credit* 8.6 11.0 10.3 9.5 9.7 13.5 10.7 5.2 9.9 9.5 8.2 14.6 14.7 15.8 12.3 15.4 14.0 9.4 12.5 14.8 Business loans 2.6 12.2 11.2 11.7 16.3 19.0 11.0 12.3 9.5 10.5 Money stock—M^ 5.7 7.8 9.0 6.6 5.2 11.5 9.2 8.5 14.1 3.3 Total time deposits 8.0 11.4 9.9 14.5 12.3 9.1 10.6 7.5 13.8 7.9 Time other than CDs 15.0 11.2 10.8 7.7 7.4 6.8 11.3 11.5 11.8 9.1 CDs (dollar changes in billions) -18.6 11.3 0.5 10.2 8.0 4.6 1.4 -1.1 1.8 0.1 Loans1 1/ Adjusted to exclude domestic interbank loans. n.a.—not available P Table 2 Loans and Investments at All Commercial Banks (seasonally adjusted) Date Total1 1972—December 1973——December 1974—December 1975—December 1976—December 31 31 31^,3 31 31 1977—May 25 June 30 July 27 August 31 September 28 October 26 November 30 December 31 1978—January 25P February 22P March 29P April 26P May 31P June 30P July 26p August 31P September 27P October 25P 1/ 2/ 3/ U.S. Gov't Other Loans1 Securities Securities (in billions ot dollars) 558.0 633.4 691.1 721.8 784.4 378.9 449.0 500.2 496.9 538.9 62.6 54.5 51.1 80.1 97.3 116.5 129.9 139.8 144.8 148.2 823.1 829.7 566.6 573.0 103.2 103.4 153.3 153.3 838.5 845.8 850.8 860.0 866.2 870.6 580.0 587.9 593.9 602.7 611.6 617.0 104.1 102.4 100.7 99.4 96.3 95.6 154.4 155.5 156.2 157.9 158.3 158.0 880.6 886.6 892.2 906.0 917.9 922.4 935.2 939.2 947.1 955.4 624.9 628.2 636.5 646.3 657.9 661.2 672.0 677.2 684.4 693.7 96.3 99.0 95.6 97.6 97.1 98.4 99.7 97.0 96.3 94.3 159.4 159.4 160.1 162.1 162.9 162.8 163.5 165.0 166.4 167.4 Adjusted to exclude domestic commercial interbank loans. Beginning June 30, 1974, data revised to include one large mutual savings bank which merged with a nonmember commercial bank. Total loans and investments were increased by about $600 million, of which $500 million were in loans and $100 million in "other securities " Beginning October 31, 1974, as the result of the liquidation of one large bank total loans were reduced by $1.0 billion; business loans by $0.6 billion; real estate loans by $0.2 billion; nonbank financial loans by $0.2 billion; and "other securities" by $0.5 billion; however, business loans were increased and real estate loans were reduced by $0.1 billion as a result of loan classifications at one large mideastern bank. • • • • • • • • Table 3 Loans Sold Outright by Commercial Banks and Bank Credit Adjusted for Selected Loan Sales Date Loans sold outright by commercial banks (outstanding in $ billions, NSA)1 Total loans Business & investments Total Loans Original Adjusted^ Commercial bank credit (seasonally adiusted) Total loans Original Adjusted? Business loans Original Adjusted3 1972--December 1973--December 1974--December^>5 1975-—December 1976-—December^ 2.6 4.3 4.8 4.4 3.8 1.7 2.6 2.7 2.5 2.4 558.0 633.4 691.1 721.8 785.1 560.6 637.7 695.9 726.2 788.9 378.9 449.0 500.2 496.9 538.9 381.5 453.3 505.0 501.3 542.7 130.4 156.6 183.5 176.2 179.7 132.1 159.2 186.2 178.7 182.1 1977-—October 26 November 30 December 31 4.3 4.7 4.9 2.5 2.6 2.8 860.0 866.2 870.6 864.3 870.9 875.5 602.7 611.6 617.0 607.0 616.3 621.9 198.7 200.2 201.4? 201.2 202.8 204.2? 1978--January 25P February 22P March 29P April 26P May 31 June 30P July 26P August 31P September 27P October 25P 4.8 4.6 4.5 4.5 4.4 4.5 4.6 4.7 4.6 3.8 2.5 2.3 2.2 2.3 2.3 2.2 2.3 2.5 2.4 1.9 880.6 886.6 892.2 906.0 917.9 922.4 935.2 939.2 947.1 955.4 885.4 891.2 896.7 910.5 922.3 926.9 939.8 943.9 951.7 959.2 624.9 628.2 636.5 646.3 657.9 661.2 672.0 677.2 684.4 693.7 629.7 632.8 641.0 650.8 662.3 665.7 676.6 681.9 689.0 697.5 203.9 206.1 210.3 213.3 219.2 220.4 222.3 224.4 226.3 228.8 206.4 208.43 212.5 215.6 221.5 222.6 224.6 226.9 228.7 230.7 — p — p r e l i m i n a r y — r—revised U To bank holding companies, affiliates, subsidiaries, and foreign branches. Beginning August 28, 1974, loans sold outright to selected bank affiliates reflect a newly issued definition of the group of affiliates included as well as a somewhat different group of reporting banks. 2/ Includes all loans sold to bank holding companies, affiliates, subsidiaries, or foreign banks. _3/ Includes business loans sold to bank holding companies, affiliates, subsidiaries, or foreign branches. 4/ Beginning June 30, 1974, data revised to include one large mutual savings bank which merged with a nonmember commercial bank. Total loans and investments were increased by about $600 million of which $500 million were in loans. 5J Beginning October 31, 1974, as the result of the liquidation of one large bank, total loans and investments were reduced by $1.5 billion; total loans by $1.0 billion; and business loans by $0.6 billion. However, as the result of loan reclassifications at another large bank, business loans were increased by $0.1 billion. kj Beginning March 31, 1976, as the result of loan reclassifications in Chicago City and in the San Francisco District, business loans were reduced by $1.2 billion. Tj Beginning December 31, 1977, business loans were reduced by $200 million as the result of loan reclassi http://fraser.stlouisfed.org/fications at one large bank. Federal Reserve Bank of St. Louis / \ Table 4 Loans at Commercial Banks (seasonally adjusted) Business Real Estate 130.4 156.6 183.5 176.2 179.7 98.1 117.7 130.2 134.4 149.0 71.8 83.2 86.8 89.7 100.9 14.7 12.1 11.3 12.2 17.3 22.1 29.0 33.8 28.5 26.0 14.5 17.5 18.4 20.4 23.5 1977—September 28 October 26 November 30 December 31^ 196.0 198.7 200.2 201.44 168.8 170.9 174.0 176.64 113.4 114.7 116.3 117.8 19.2 18.9 20.1 18.7 25.2 26.0 26.0 26.1 26.0 26.1 26.1 26.0 1978—January 25P February 22P March 29P April 26P May 31P June 30P July 26P August 31P September 27P October 25P 203.9 206.1 210.3 213.3 219.2 220.4? 223.3 224.4 226.3 228.8 178.8 181.3 183.7 186.0 189.0 191.6 194.3 197.3 199.8 202.5 119.1 120.2 122.1 124.0 126.1 128.5 130.1 132.5 134.0 n.a. 21.5 18.9 17.3 20.4 18.8 20.0 20.9 18.6 18.8 17.6 25.8 25.9 25.8 25.8 25.9 25.3 25.7 26.0 26.6 26.9 26.1 26.0 25.7 25.8 25.9 26.0 26.3 26.5 26.8 27.2 1972—December 1973—December 1974—December 1975—December 1976—December p—preliminary y 31 31 31^,2 31 31^ Consumer Security (in billions of dollars) Nonbank Financial Agriculture n.a.—not available ::: B b a n k -hlch -ith« Table 5 Changes in Loans and Investments at All Commercial Banks, Seasonally Adjusted (in billions of dollars) 1977 1978 , Loans & Investments^ Oct. +9.2 Nov. +6.2 Dec. +4.4 Jan. +10.0 Feb. +6.0 Mar.P +5.6 Apr. P +13.8 US Govt securities -1.3 -3.1 -0.7 +0.7 +2.7 -3.4 +2.0 -0.5 +1.3 Other securities +1.7 +0.7 -0.6 +1.4 1/ +0.7 +2.0 +0.8 8.8 +8.9 +5.4 +7.9 +3.3 +8.3 +9.8 +2.7 +2.1 + 1.3 -0*3 +0.8 +0.1 +2.1 + 1.5 +3.1 + 1.6 +1.2 1/ 1/ + 1.5 + 1.4 +2.3 + 1.5 -1.4 +0.2 +0.1 +1.5 +2.5 +2.2 +1.3 +2.8 -0.3 -0.1 -0.7 +2.2 +2.5 +1.1 -2.6 +0.1 -0.1 +0.1 +4.2 +2.4 +1.9 -1.6 -0.1 -0.3 + 1.8 +3.0 +2.3 +1.9 +3.1 1/ +0.1 -0.6 Loans 2 Business Real estate Consume? Security Nonbank financial Agriculture All other May.P +11.9 Aug.P +4.U Sept.P +7.9 Oct .t +8.3" +1.3 -2.7 -0.7 -2.0 -0.1 +0.7 +1.5 +1.4 +1.0 +11.6 +3.3 +10.8 +5.2 +7.2 +9.3 +5.9 +3.0 +2.1 -1.6 +0.1 +0.1 +2.0 +1.2 +2.6 +2.4 +1.2 -0.6 +0.1 -3.6 +2.1 +3.0 +2.4. -2.3 +0.3 +0.2 -0.5 +1.9 +2.5 +1.5 +0.2 +0.6 +0.3 +0.2 +2.5 +2.7 n.a, -1.2 +0.3 +0.4 n.a, Jun.P Jul.P +12.8 +4.5 +1.9 +2.7 +1.6. +0.9 +0.4 +0.3 +3.0. Adjusted for Loans Sold to Affiliates Loans & Investments 2 +9.2 +6.6 +4.6 +9.9 +5.8 +5.5 +13.8 +11.8 +4.6 +12.9 +4.1 +7.8 +7.5 US Govt securities -1.3 -3.1 -0.7 +0.7 +2.7 -3.4 +2.0 -0.5 +1.3 +1.3 -2.7 -0.7 -2.0 Other securities +1.7 +0.4 -0.3 +1.4 1/ +0.7 +2.0 +0.8 -0.1 +0.7 +1.5 +1.4 +1.0 Loans 2 +8.8 +9.3 +5.6 + 7.8 +3.1 +8.2 +9.8 +11.5 +3.4 +10.9 +5.3 +7.1 +8.5 +2.6 + 1.6 + 1.6 +2.2 +2.0 +4.1 +3.1 +5.9 +1.1 +2.0 +2.3 + 1.8 +2.0 Business 17 2/ Less than $50 million. Adjusted to exclude interbank loans. Table 6 Changes in Loans and Investments at All Commercial Banks, at Weekly Reporting Banks, and at Other Banks, not seasonally adjusted Adjusted for loans sold (in billions of dollars) 1972 1973 1978P 1974 1975 1977P 1976 Last Wednesday of September to last Wednesday of October ItemP/ All Commercial Banks% Total loans U.S. Gov't, securities Other securities Total All Large Banks%,3 Total loans US Govt securities Other securities Total Other Banks^,3 Total loans US Govt securities Other securities Total +7.7 -1.5 +0.5 +7.6 +1.6 + 1.2 +1.6 +4.5 -0.1 -1.3 + .5 -.3 -1.2 -0.3 +0.9 +2.0 +2.6 +2.3 -0.4 +0.3 +2.2 -0.3 +1.1 +0.9 + 1.7 +1.5 +0.6 +0.3 +2.4 +0.8 —0.4 +0^j3 +1.1 +1.2 JL/ +0.3 +1.5 +2.2 +1.0 —0.1 +3.1 +1.9 +0.1 +0.6 +2.7 -0.4 +5.1 -1.2 -0.5 +4.5 +0.6 +4.2 +3.0 +0.8 -0.2 +3.5 +2.6 -0.3 —— +2.3 +3.5 -0.1 +0.6 +4.0 +2.7 +0.1 +0.3 +3.0 +0.6 +4.5 +0.6 +0.2 +5.3 +1.2 +0.6 +0.6 +2.3 +6.8 +4.1 -.9 +0.9 +0.9 +2.3 +4.1 +5.6 +0.9 1/ +6.5 -0.6 +1.3 +8.3 1971 — +0.2 -.6 1/ + .5 End of December to last Wednesday of October All Commercial Bank&2 Total loans US Govt securities Other securities Total +63.6 -7.6 +7.9 +64.0 +52.5 —4.3 +8.4 +56.6 +20.5 +10.3 +1.5 +32.4 -17.0 +21.5 +4.4 +8.9 +42.6 -7.5 +7.4 +42.6 +55.7 -11.0 +10.0 +54.7 +36.4 —4.0 +9.4 +41.8 +16.8 -1.8 +14.7 +29.7 All Large Banks^,3 Total loans US Govt securities Other securities Total +27.9 —5.3 +2.5 +2571 +14.4 —5.7 +4.8 +13.5 -4.5 +3.6 -0.2 -1.1 -25.6 +11.0 -2.1 -16.7 +24.6 —5.3 — +19.3 +31.6 —7.1 +3.0 +27.5 +17.7 —3.6 +2.5 +16.5 +4.2 -2.5 +6.3 +8.0 Other Banks2,3 Total loans US Govt securities Other securities Total +35.7 -2.3 +5.5 +38.9 +38.0 +1.4 +3.6 +43.0 +25.1 +6.7 +1.7 +33.5 +8.6 +10.5 6.5 +25.6 +18.2 —2.3 +7.5 +23.2 +24.1 —3.9 +7.0 +27.2 +18.7 —0.4 +7.0 +25.3 +12.5 +0.7 +8.4 +21.6 p—preliminary r—revised V Less than $500 m i l l i o n . 2/ Based on revised reporting beginning July 1969. Changes have been adjusted to maintain comparability of series. 3/ Based on revised coverage beginning July 1966 and January 1967-1978. NOTE: Data exclude all interbank loans; call report data for large banks used when available. Loans adjusted to include all loans sold to bank holding companies, affiliates, subsidiaries, or foreign branches. Allowance has been made in monthly changes for all loan and security reclassifications. For description of reclassifications, see Tables 3 and 8. • • • • • • • • • Table 7 Changes in Commercial and Industrial Loans at Large Commercial Banks (in millions of dollars) Late September to Late October1 1977 1978 P 1976 1975 Late December to Late October 1978 1977 1976 1974 1975 Business of Borrower 1974 Food Processors Commodity Dealers Trade Concerns Retail Trade Wholesale Trade Metals Primary Metals Machinery Transportation Equipment Other Fabricated Metals Textiles, Apparel, etc. Petroleum Chemicals Other Durable Manufacturing Other Nondurable Manufacturing Mining Public Utilities, total Transportation Communication Other Public Utilities Construction All Other Types of Business Bankers Acceptances Services Other Foreign Business Concerns Classified Unclassified Total Change 24 244 58 10 48 -129 -7 -88 13 -47 -141 102 -87 -4 25 141 330 29 301 -747 -79 -367 -182 -119 -133 -58 -43 -137 12 267 219 77 142 -216 -49 -26 -115 -26 -105 39 87 -87 141 288 434 221 213 20 -58 86 -26 18 -134 114 32 -30 190 48 883 288 595 -125 -64 69 -63 -67 -114 -13 -175 -72 297 -224 1896 965 931 3809 112 1996 995 706 877 532 844 1419 -1490 -562 -1552 -1032 -520 -4152 -32 -2906 -650 -564 -605 501 -587 -1121 -402 297 1036 521 515 -2679 -lol -1154 -974 -450 664 166 -45 -229 +61 -310 2049 792 1257 537 151 -22 119 289 673 169 354 459 +539 -146 3531 1762 1769 1365 -176 706 312 523 981 -225 412 485 -109 84 -324 -30 -96 -198 -57 356 100 —46 302 -76 -59 -25 -84 -115 83 47 18 18 11 -51 -169 221 -24 -366 -19 -846 145 -701 -36 229 -294 -98 -75 -121 -10 997 807 9 181 -56 1046 -65 981 9 146 70 —60 56 74 -38 950 924 -22 48 159 2161 38 2199 —48 10 197 —26 -17 240 -18 790 248 223 319 463 2016 265 2281 387 747 2400 128 300 1972 758 2280 178 684 1418 327 16349 1693 18042 -584 420 -1776 -223 -150 -1403 -425 -1048 687 -1414 -321 899 -12082 -711 -12793 -84 1461 -2811 -876 -579 -1356 -1111 -3271 -367 -314 -2590 197 -6811 -418 -7229 281 1021 -861 -233 -54 -574 544 -1862 -2183 24 297 -812 2303 2691 4994 165 1519 416 304 308 -196 771 457 -2901 2549 809 348 10618 2378 12996 1/ Five most comparable weeks used throughout. 2/ Changes are compiled from December 26, 1973; December 25, 1974; December 24, 1975; December 29, 1976; and ~ December 28, 1977. These data cannot be linked with all commercial bank data which are always for December 31. i Date 1973-—Dec 1974-—Dec 1975-—Dec 1976-—Dec Table 8 Loans and Investments of All Commercial Banks* (in billions of dollars, not seasonally adjusted) Other SecuTotal Real Loans and US Business Estate Security rities Loans Investments Govt 118.0 14.6 130.6 458.5 159.4 58.3 31 647.3 1 2 31 > 140.5 186.8 130.6 13.7 510.7 54.5 705.6 179.3 134.8 145.5 14.8 84.1 507.4 31 737.0 31 3 182.9 149.5 102.5 148.9 550.2 21.2 801.6 1977--Aug Sep Oct Nov Dec 31 28 26 30 31 843.9 849.9 858.2 869.3 888.9 99.7 98.8 98.2 98.5 100.2 155.3 156.1 157.3 158.8 158.8 588.9 595.0 602.6 612.1 629.9 193.6 195.3 198.2 200.2 205.04 167.0 169.6 171.9 174.7 177.24 18.4 18.5 18.4 20.6 22.9 26.1 26.3 26.1 25.9 25.7 113.0 114.6 115.6 116.6 118.7 25.2 25.3 25.7 26.1 27.14 45.6 45.4 46.7 48.0 1978-—Jan Feb Mar Apr May Jun Jul Aug Sep Oct 25P 22P 29P 26P 31P 30P 26P 31P 27P 25P 876.1 878.4 889.7 904.9 917.0 928.9 931.1 936.6 946.1 952.9 97.9 99.6 98.6 99.6 96.6 96.1 95.2 93.9 94.1 92.6 158.8 158.5 159.6 163.1 163.4 163.6 163.4 164.7 166.2 166.7 619.3 620.3 631.6 642.3 657.1 669.2 672.6 678.0 685.8 693.5 201.7 204.2 210.0 213.8 219.2 223.0 222.4 223.3 225.6 228.3 178.6 180.2 182.6 185.1 188.2 191.4 194.5 198.1 200.8 203.7 21.1 17.8 17.3 19.2 19.1 20.2 19.9 18.2 18.0 17.1 25.6 25.5 25.4 25.7 26.0 26.5 26.8 27.0 27.1 27.2 118.7 118.9 120.4 122.8 125.2 128.5 130.8 133.8 135.5 n.a. 25.3 25.3 25.5 25.5 25.9 26.0 26.0 26.2 26.7 26.6 48.3 48.4 50.4 50.2 53.5 53.6 52.2 51.4 52.1 n.a. Farm 17.3 18.2 20.2 23.3 Nonbank Financial All Consumer Inst. Other 83.7 30.5 35.0 87.3 35.2 38.8 90.2 29.6 38.4 27.0 101.7 44.6 n.a.—not available NOTE: Data exclude domestic interbank loans. Consumer and other loans were partly estimated for all dates. Other data are partly estimated on all but June and December call dates. 1_/ Beginning June 30, 1974, data revised to include one large mutual savings bank which merged with a nonmember commercial bank. Total loans and investments were increased by about $600 million of which $500 million were in loans and $100 million in "other securities.11 2/ Beginning October 31, 1974, as the result of the liquidation of one large bank, total loans were reduced by $1.0 billion, business loans by $0.6 billion, real estate loans by $0.2 billion, nonbank financial loans by $0.2 billion, and "other securities" by $0.5 billion. However, business loans were increased and real estate loans reduced by $0.1 billion as the result of loan reclassifications at one large mideastern bank. _3/ Beginning March 31, 1976 as the result of loan reclassifications, business loans were reduced by $1200 million, real estate loans increased by $800 million, nonbank financial by $200 million and other loans by $200 million. 4/ Beginning December 31, 1977, business loans were reduced by $200 million and nonbank financial by $100 million, while real estate loans were increased by $300 million as the result of reclassification at one large bank. Table 9 Liquidity Ratios Liquid Assets to Liabilities at Large Commercial Banks* Borrowing Ratios at Large Commercial Banks? Loans to Deposits at all Commercial Banks^ 197 2—Dec ember 1973—December 1974—December 1975—December 1976—December 1977—December 13.0 11.0 9.7 13.0 14.1 14.0 18.9 25.6 28.6 33.2 26.1) 29.7 24.4) 27.8 22.7) 67.9(67.7) 72.0(71.8) 72.9(72.5) 68.7(68.3) 69.7(69.1) 72.2(71.7) 1977—January February March April May June July August September October November December 14.0 13.2 13.2 13.7 13.1 13.5 13.3 13.5 13.5 13.4 13.8 14.0 28.9 28.6 28.3 27.8 29.0 28.4 28.8 28.9 29.5 30.2 30.6 31.4 23.6) 23.2) 23.0) 22.7) 23.9) 23.2) 23.5) 23.5) 24.1) 24.8) 25.1) 25.8) 70.4(70.0) 70.4(70.1) 70.5(70.2) 71.1(70.8) 72.2(71.8) 71.7(71.3) 72.5(72.2) 72.6(72.3) 73.3(72.9) 73.6(73.1) 73.2(72.8) 72.2(71.7) 19 7 8 — J anuary February March April May June July August September October 13.4 12.5 12.1 12.3 11.4 11.4 10.9 10.5 10.5 10.3 31.3 32.1 32.3 32.2 32.8 32,7 32.2 33.4 33.0 33.9 25.6) 26.3) 26.5) 26.4) 26.9) 26.9) 26.3) 27.3) 27.5) 27.9) 73.8(73.3) 73.3(72.9) 74.0(73.6) 74.5(74.1) 74.5(74.1) 76.0(75.5) 76.7(76.2) 77.1(76.7) 76.9(76.5) 77.7(77.1) 1 Monthly averages of Wednesday figures. Liquid assets include Treasury and other secutities maturing in one year or less, loans to brokers and dealers and domestic commercial banks, holdings of bankers acceptance and gross sales of Federal funds. Liabilities are total liabilities less capital accounts, valuation reserves, and demand deposits due to banks. ^ Monthly averages of Wednesday figures. The numerator includes gross liabilities of banks to their foreign branches, large negotiable CD's, net Federal funds purchased, and borrowings from others. Beginning in 1975 all large time deposits are included; the figures in parentheses include negotiable CD's only to maintain comparability with earlier data. The denominator is total assets less Federal funds sold less cash items in process of collection. ^ Last Wednesday of the month except for June and December Call dates. Total loans exclude loans to banks and total deposits exclude cash items in process of collection. Ratios in parentheses are those obtained by adding Euro-dollars to the deposit base. M22 Date 1973—Dec 1974—Dec 1975—Dec 1976—Dec MI1 270.5 282.9 295.2 313.5 571.4 612.2 664.7 740.5 Table 10 Money Stock Measures and Deposit Turnover (seasonally adjusted; dollar amounts in billions) Time Other 3 Total Demand than M3 time CDs Currency Deposits CDs 363.9 300.9 63.0 209.0 61.5 919.2 329.3 418.3 89.0 215.1 981.2 67.8 369.6 450.9 81.3 221.5 73.7 1092.5 489.7 427.0 232.8 62.7 80.7 1236.5 1977—Oct Nov Dec 335.9 336.2 338.5 801.4 805.4 809.5 1357.9 1367.1 1376.1 87.1 87.7 88.6 248.7 248.5 249.9 66.4 70.9 74.0 465.6 469.3 471.0 531.9 540.2 545.0 556.5 561.7 566.6 3.1 3.0 3.6 82.1 88.7 87.0 1978—Jan Feb Mar Apr May Jun JulP AugP SepP OctP 341.7 341.8 342.9 348.5 350.6 352.8 354.2 356.7 360.9 361.9 815.9 819.1 822.6 830.3 835.2 840.6 846.2 853.5 862.4 873.0 1386.6 1393.1 1400.3 1411.4 1419.9 1429.8 1440.9 1455.1 1472.0 1484.3 89.4 90.1 90.7 91.2 92.1 92.8 93.3 94.0 95.2 96.0 252.2 251.7 252.3 257.3 258.5 259.9 260.9 262.8 265.7 265.9 76.3 79.4 82.0 83.4 87.1 86.7 87.4 86.3 88.1 88.2 474.7 478.1 480.9 481.8 484.5 487.8 492.0 496.7 501.6 505.4 551.0 557.5 562.9 565.2 571.6 574.5 579.4 583.0 589.7 593.6 570.7 574.0 577.7 581.2 584.7 589.2 594.7 601.6 609.6 617.0 3.1 3.0 3.4 3.3 2.6 3.9 3.7 3.3 4.1 3.5 90.5 92.0 93.8 93.5 96.4 98.0 95.5 99.7 98.6 n.a. Week Ending October 4 11 18 25 360.2 364.3 364.3 358.8 864.5 869.4 869.3 865.1 87.0 86.4 87.0 89.0 504.2 505.1 505.0 506.3 591.2 591.5 592.0 595.3 n.a. n.a. n.a. n.a. 95.8 95.7 96.0 95.8 264.5 268.5 268.3 263.0 Nonbank US Govt Turnover Thrift deposits outside (all InstiNYC tutions^ member) (%) 347.8 5.0 65.0 369.1 3.3 74.8 427.8 2.9 73.7 83.7 3.2 496.0 n.a. n.a. n.a. n.a. 5.2 3.5 3.1 3.1 4 n.a. n.a. * n.a. n.a. n.a.—not available p—preliminary r-revised 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 process of collection, and FR float, (2) foreign demand balances at FR Banks, and (3) currency outside the Treasury, FR Banks, and vaults of all commercial banks. 2/ Includes in addition to currency and demand deposits, savings deposits, time deposits open account, and ~ time certificates of deposit other than negotiable time certificates of deposit issued in denominations of $100,000 or more by large weekly reporting commercial banks. 3/ Includes M^ pi u s the average of the beginning and end of month deposits of mutual savings banks, savings and loan shares, and credit union shares. 4/ Average of beginning and end of month deposits at mutual savings banks, savings and loan shares, and>1=--,^http://fraser.stlouisfed.org/ union shares. £ 0 0 £ $ 0 0 Federal Reserve Bankcre@Lt of St. Louis
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