h6_198503_revision.pdf

March 1985

Money Stock Revisions

The attached historical data on the money stock reflect revisions

to incorporate annual seasonal adjustment and benchmark changes. Monthly

data are shown for the period from 1959 to 1984. Figures shown weekly are

for the period from 1975 to 1984 and are based on weeks ended on Monday to

correspond with the reporting cycle under contemporaneous reserve require

ments. No data prior to 1975 have been constructed on the week-ended Monday

basis.

Benchmark Revisions

Deposits have been benchmarked to recent call reports. In addi

tion, new data sources have been used in estimating RPs and term Eurodollars.

Other miscellaneous changes to various series also were made, reflecting the

incorporation of new data and estimation methods.

Seasonal Revisions

Seasonal factors have been revised based on the X-ll ARIMA procedure

adopted in 1982. Nontransactions M2 again has been seasonally adjusted as a

wholeinstead of being built up from seasonally adjusted savings and small

time depositsin order to reduce distortioas caused by portfolio shifts

arising from financial change in recent years, especially shifts to MMDAs in

1983. A similar procedure has been used to seasonally adjust the non-M2

portion of M3.

Computer Tapes

Computer tapes containing historical data on the money stock are

available from the Banking Section, Division of Research and Statistics,

Board of Governors of the Federal Reserve System, Washington, D.C. 20551.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

TABLE 1 MONEY STOCK MEASURES AND LIQUID ASSETS BILLIONS OF DOLLARS SEASONALLY ADJUSTED NOT SEASONALLY ADJUSTED . .--_^==.- =^3=

~"TT5T~7Mn77 FEB... MAR... APR... MAY... JUN... JUL... AUG... SEP... OCT... NOV... DEC... 1960 JAN...

FEB... MAR... APR... MAY... JUN... JUL... AUG... SEP... OCT... NOV... DEC... 1961 JAN...

FEB... MAR... APR... MAY... JUN... JUL... AUG... SEP... OCT... NOV... DEC...

1 Ml j CURRENCY , 1 TRAVELERS 1 CHECKS, 1 DEMAND 1 DEPOSITS I AND OTHER 1 CHECKABLE 1 DEPOSITS 1 139.8 1 140.3 1 140.7 1 140.6 1 141.6 1 142.1 1 142.7 1 142.8 1 142.0 1 141.4 1 141.4 1 141.0 1 141.0 1 140.9 1 140.8 I 140.6 I 140.7 I 140.7 1 141.3 1 142.4 I 142.3 1 142.0 1 142.0 1 141.8 1 142.2 1 142.8 1 143.1 1 143.3 1 i43.9 1 144.2 ! 1 144.2 1 144.7 1 145.1 1 145.5 1 146.1 1 146.5

M2 Ml + OVERNIGHT RP'S AND EUROS, G/P & B/D MMMFS, MMDAS & SAV & SM. TIME PEP. 286.6 287.8 289.1 290.2 292.3 294.0 295.4 296.4 29o.5 296.6 297.2 297.8 298.3 298.6 299.3 300.1 301.0 302.2 304.3 306.9 308.2 309.6 311.0 312.3 314.2 316.6 318.2 320.0 322.3 324.2 325.7 327.6 329.4 331.2 333.5 335.5

1 M3 1 M2 PLUS ! LARGE TIME DEP., TERM RP'S, EUROS AND INSTITUTION-ONLY MMMF'S 289.0 290.1 291.4 292.4 294.5 296.1 297.5 298.5 298.6 298.6 299.2 299.8 300.3 300.6 301.3 302.2 303.1 304.3 306.5 309.3 310.8 312.3 313.8 315.3 317.3 320.0 321.8 323.8 326.6 328.7 330.6 332.7 334.5 336.6 339.0 341.0

1 L 1 M3 PLUS | OTHER | LIQUID | ASSETS |

374.4 | 374.8 | 376.2 | 377.6 | 380.7 | 383.1 | 385.7 | 387.7 | 388.1 | 388.4 | 389.0 | 388.6 | 389.9 | 390.8 | 591.7 | 392.3 | 392.8 | 394.4 | 396.5 | 398.3 | 400.2 | 401.6 | 402.6 | 403.6 | 406.0 | 408.3 | 409.7 | 411.9 | 414.6 | 416.6 | 418.9 I 420.7 | 422.4 I 425.1 | 428.1 | 430.8 |

J Ml I CURRENCY , I TRAVELERS I CHECKS, I DEMAND I DEPOSITS I AND OTHER I CHECKABLE 1 DEPOSITS I 143.1 I 140.3 I 139.4 I 140.7 I 139.6 1 140.4 1 141.2 1 140.9 I 141.3 1 141.7 I 142.8 1 144.7 I 144.4 I 140.9 I 139.6 I 140.8 I 138.7 I 139.0 I 140.0 I 140.4 I 141.6 I 142.3 1 143.4 I 145.7 j 1 145.7 I 142.8 I 141.8 1 143.5 ! I 141.8 I 142.4 1 1 142.8 | 1 142.7 | I 144.3 I 145.7 1 147.6 i 150.5 !

1 M2 i Ml + OVERNIGHT KPfS AND EUKOS, G/P & B/D MMMFS, MMDAS & SAV & SM. TIME DFP. 289.8 287.7 287.9 290.2 290.2 292.5 294.5 294.8 296.1 296.9 297.9 300.7

301.5 298.5 298.2 300.3 298.9 300.9 303.5 305.3 307.9 310.0 311.7 315.3 317.5 316.7 317.2 320.3 320.1 322.8 324.9 325.9 328.8 331.5 334.1 338.6

i M3 1 M2 PLUS I LARGE ITIME DEP., ITERM RPfS, 1 EUROS AND ! INSTITUTION-ONLY 1 MMMF'S ! 292.0 289.9 290.2 292.5 292.5 294.8 296.7 297.0 298.2 298.9 299.8 302.5 303.4 300.5 300.2 302.5 301.1 303.1 305.9 307.7 310.4 312.6 314.3 i 318.0 I 320.5 I 320.0 I 320.8 I 324.3 I 324.5 I 327.6 | 330.1 | 331.1 | 334.1 I 336.8 1 339.3 ! 343.7 I

1 L 1 1 M3 PLUS 1 I OTHER I 1 LIQUID | 1 ASSETS I

377.5 1 375.7 | 375.7 | 378.4 I 379.3 | 381.5 | 384.7 | 386.4 | 386.8 | 387.8 | 389.0 | 390.7 | 393.0 | 391.9 | 391.4 | 393.3 | 391.5 | 392.8 | 395.5 | 397.0 | 398.9 | 401.0 | 402.6 | 405.8 | 409.1 | 409.4 | 409.6 | 413.1 | 413.4 | 415.1 | 417.8 | 419.2 | 421.0 | 424.4 | 428.1 | 432.9 |


TABLE 1 MONEY STOCK MEASURES AND LIQUID ASSETS BILLIONS OF DOLLARS SEASONALLY ADJUSTED NOT SEASONALLY ADJUSTED "" _-.-,.-..,-..-^ ~-^ ~ ,.^-r-

1962 JAN... FEB... MAR... APR... MAY... JUN... JUL... AUG... SEP... OCT... NOV... DEC...

1963 JAN... FEB.. . MAR... APR... MAY... JUN... JUL... AUG... SEP... OCT... NOV... DEC...

1964 JAN... FEB. . . MAR.. . APR.. . MAY... JUN... JUL... AUG... SEP... OCT... NOV... DEC...

T Ml I CURRENCY , I TRAVELERS I CHECKS, I DEMAND I DEPOSITS I AND OTHER I CHECKABLE 1 DEPOSITS 1 146.6 1 147.0 1 147.3 I 147.8 1 148.2 I 148.0 I 147.9 I 147.9 1 147.7 I 148.1 I 148.7 I 149.2 I 149.7 I 150.3 I 150.6 I 151.2 I 151.8 1 151.9 1 152.9 1 153.2 1 153.4 1 154.1 1 155.1 I 154.7 1 155.3 1 155.8 1 156.0 1 156.3 1 156.9 1 157.2 I 158.4 I 159.4 I 160.3 I 160.9 1 161.5 I 161.9

M2 Ml + OVERNIGHT RP'S AND EUROS, G/P & B/D

MMMFS, MMDAS &

SAV & SM. TIME DEP.

337.6 340.3 343.0 345.6 347.6 349.2 351.0 352.9 354.7 357.3 359.9 362.7 365.4 368.0 37 0.5 373.4 376.2 378.3 381.3 383.7 385.8 388.5 391.6 393.2 395.5 397.7 399.6 401.8 404.3 406.9 410.3 413.5 416.6 419.3 422.2 424.8

M3 M2 PLUS LARGE

TIME DEP., TERM RP'S, EUROS AND INSTITU

TION-ONLY MMMF'S 343.2 346.2 349.3 352.2 354.3 356.1 358.1 360.1 362.3 365.2 368.1 371.4 374.4 377.3 380.1 383.2 386.2 388.5 391.7 394.5 397.1 400.1 404.0 406.0 408.8 411.4 413.5 415.9 418.9 421.9 425.6 429.1 432.8 436.1 439.5 442.5

L 1 M3 PLUS | OTHER | LIQUID | ASSETS |

| " 433.7 |

436.6 | 440.2 | 443.5 | 445.9 I 448.4 | 450.4 | 453.2 | 455.6 | 457.5 | 462.0 | 466.1 | 468.9 | 472.7 | 475.5 | 478.2 | 481.7 | 484.0 | 486.8 | 490.9 | 494.6 | 497.0 I 501.6 | 503.8 I 506.3 | 508.9 | 511.1 | 513.7 | 517.2 I 520.8 I 523.7 I 526.3 I 530.8 | 534.5 I 537.7 I 540.4 I

1 Ml I CURRENCY , I TRAVELERS I CHECKS, I DEMAND I DEPOSITS I AND OTHER I CHECKABLE 1 DEPOSITS 1 150.2 I 146.9 I 146.0 I 148.0 I 145.8 1 146.2 I 146.4 I 145.8 I 146.8 I 148.4 1 150.2 1 153.3 1 153.6 I 150.1 1 149.3 1 151.5 I 149.3 1 150.1 I 151.4 I 150.9 I 152.5 I 154.4 1 156.7 I 159.0 I 159.4 1 155.4 I 154.6 I 156.8 1 154.2 1 155.5 1 157.1 I 157.0 1 159.4 I 161.3 1 163.1 1 166.4

M2 Ml + OVERNIGHT RPfS AND EUROS, G/P & B/D

MMMFS, MMDAS &

SAV & SM. TIME DEP. 341.2

340.3 342.1 346.0 345.1 347.7 350.1 351.0 354.0 357.6 360.5 365.8 369.1 368.1 369.8 373.9 373.4 376.8 380.3 38.1.5 384 9 388.8 392.3 396.5 399.6 397.6 398.9 402.5 401.3 405.4 409.4 411.2 415.8 419.9 423.0 428.4

M3 M2 PLUS LARGE


TION-ONLY MMMF'S 346.5 346.2 348.5 352.7 352.1 355.0 357.4 358.3 361.6 365.4 368.3 374.1 378.0 377.3 379.5 383.9 383.9 387.4 390.9 392.5 396.1 400.2 404.1 408.7 412.7 411.4 412.9 416.9 416.5 420.8 424.9 427.0 431.8 436.3 439.7 445.5


43579| 437.7 | 440.3 | 444.9 | 444.7 | 447.0 | 449.0 | 451.5 | 453.9 | 456.6 | 461.9 | 468.1 | 472.2 | 473.9 | 475.9 | 479.7 | 480.6 | 482.6 | 485.1 | 488.9 | 492.6 | 496.0 | 501.5 | 505.8 | 509.9 | 510.2 | 511.6 | 515.6 | 516.1 | 519.3 | 521.8 |

! 524.2 | 1 528.8 | ! 533.6 | i 537.8 | i 542.8 |


TABLE 1 MONEY STOCK MEASURES AND LIQUID ASSETS BILLIONS OF DOLLARS SEASONALLY ADJUSTED NOT SEASONALLY ADJUSTED



1967 JAN... FEB... MAR... APR... MAY... JUN. . . JUL... AUG... SEP... OCT... NOV... DEC...

1 Ml j CURRENCY , I TRAVELERS I CHECKS, I DEMAND I DEPOSITS I AND OTHER I CHECKABLE 1 DEPOSITS I 162.3 I 162.5 I 163.1 I 163.6 I 163.3 I 163.9 I 164.7 1 165.3 I 166.5 I 167.7 I 168.4 I 169.5 I 170.8 I 171.3 1 172.2 I 173.5 I 173.0 I 173.3 1 172.1 I 172.5 I 173.7 I 172.9 I 173.1 1 173.7 I 173.6 I 174.8 I 176.6 I 176.0 1 177.5 1 178.9 1 180.0 1 181.6 1 182.6 1 183.6 1 184.2 1 185.1

M2 Ml + OVERNIGHT RP'S AND EUROS, G/P & B/D

MMMFS, MMDAS &

SAV & SM. TIME PEP. 427.8 430.5 433.1 435.6 437.2 439.9 443.0 445.7 449.2 452.8 456.0 459.4 462.4 464.6 467.0 469.4 470.1 471.0 471.0 472.7 475.3 476.1 477.5 480.0 481.9 485.0 489.4 492.2 497.2 502.0 506.6 511.1 514.8 518.6 521.2 524.3

M3 M2 PLUS LARGE

TIME DEP., TERM RPfS, EUROS AND INSTITU

TION-ONLY MMMF'S 446.1 449.1 451.9 454.6 456.5 459.7 463.3 466.7 470.8 475.2 478.6 482.2 485.5 487.8 490.7 494.2 495.5 497.0 497.9 499.7 502.2 501.9 502.2 505.1 509.4 514.3 519.6 522.6 527.8 533.1 \ 537.9 543.0 547.0 550.9 553.8 557.1

L 1 M3 PLUS I OTHER | LIQUID | ASSETS |

543.7 | 546.8 I 550.3 | 553.7 | 556.6 I 560.7 I 565.0 | 568.5 | 572.3 | 576.7 I 580.8 | 584.4 I 588.5 j 591.2 | 594.2 | 598.4 I 600.4 | 602.0 | 602.5 I 604.1 | 607.1 | 608.9 | 611.4 I 614.8 | 618.2 I 622.3 | 627.5 I 630.0 | 634.2 I 633.9 I 643.2 | 649.0 | 653.8 | 658.4 | 662.2 | 666.5 |

1 Ml I CURRENCY , I TRAVELERS I CHECKS, I DEMAND I DEPOSITS I AND OTHER 1 CHECKABLE 1 DEPOSITS I 166.9 I 161.9 I 161.5 1 164.2 1 160.3 1 162.2 I 163.5 1 162.8 1 165.6 1 168.2 1 169.9 ! 174.4 1 175.6 1 170.3 1 170.4 1 174.1 1 169.6 1 171.7 1 171.0 1 170.0 1 172.7 1 173.4 1 174.6 1 178.6 I 178.4 1 173.4 1 174.6 1 176.6 I 174.1 1 177.4 I 179.1 I 179.0 1 181.7 1 183.9 1 185.7 1 190.3

1 M2 I Ml + OVER-I NIGHT RP'S I AND EUROS, I G/P & B/D I MMMFS, 1 MMDAS a I SAV & SM. TIME DEP.

i 432.4 ! 430.2

432.3 436.3 433.7 438.4 442.1 443.3 448.5 453.7 456.7 463.2 467.1 463.8 465.9 47 0.2 466.3 469.7 470.4 470.2 474.7 477.0 478.2 483.8 486.4 483.6 488.2 493.0 493.4 501.0 506.3 508.7 514.3 519.3 521.7 528.0

[ M3 "1 1 M2 PLUS 1 LARGE ITIME DEP., ITERM RP'S, 1 EUROS AND 1 INSTITU-ITION-ONLY

MMMF'S 450.5 448.9 451.3 455.7 453.7 458.5 462.6 464.5 469.8 475.4 478.7 485.6 490.1 487.2 489.9 495.4 492.3 495.7 497.3 497.6 501.3 502.1 502.5 508.7 i 513.7 1 513.1 | 518.7 | 523.8 I 524.6 | 532.1 | 537.4 | 540.9 | 546.3 I 550.9 I 554.2 1 560.9 |

1 L ""1 1 M3 PLUS 1 I OTHER | 1 LIQUID I 1 ASSETS |

547.8 I 547.9 | 550.9 | 555.8 | 555.2 | 559.1 | 562.9 | 566.1 | 570.3 I 575.8 | 580.7 | 587.1 | 592.9 | 592.2 | 594.9 | 600.7 | 598.7 | 600.2 | 600.3 | 601.7 | 605.2 | 607.9 | 611.5 | 617.5 | 622.2 | 622.7 | 628.2 | 632.4 | 632.4 | 637.3 | 641.3 | 646.7 | 652.1 | 657.4 | 662.3 | 669.6 |


TABLE 1 MONEY STOCK MEASURES AND LIQUID ASSETS BILLIONS OF DOLLARS SEASONALLY ADJUSTED NCT SEASONALLY ADJUSTED

1968 JAN... FEB.. . MAR. . . APR... MAY.. . JUN... JUL... AUG... SEP... OCT... NOV... DEC...

1969 JAN... FEB. . . MAR... APR... MAY.. . JUN. . . JUL... AUG... SEP... OCT. . . NOV.. . DEC...

1970 JAN... FEB.. . MAR... APR... MAY... JUN... JUL... AUG... SEP... OCT.. . NOV.. . DEC...

1 Ml 1 CURRENCY , TRAVELERS CHECKS, DEMAND

DEPOSITS AND OTHER CHECKABLE

1 DEPOSITS 1 186.4 ! 186.6 1 187.4 ! 188.6 1 190.0 i 191.4

192.6 ! 193.8 194.7

196.1 198.0 199.4 200.7 201.4 202.1 202.8 202.9 203.4 203.7 203.8 204.2 205.0 205.6 205.8 208.2 207.0 207.7 208.7 209.2 209.6 210.1 212.0 213.9 215.0 215.8 216.6

1 HZ ~1 Ml + OVERNIGHT RPfS AND EUROS, G/P & B/D MMMFS, MMDAS & SAV & SM. TIME DEP. 527.7 530.2 532.8 535.9 539.0 542.6 54J.0 549.9 553.8 558.1 562.2 566.3 569.3 571.7 574.0 576.0 576.7 578.5 579.9 580.6 582.3 583.9 587.0 589.5 591.3 588.4 589.3 591.0 594.0 597.2 600.4 606.1 612.4 617.6 622.4 628.2

1 M3 1 M2 PLUS LARGE TIME DEP., TERM RPfS, EUROS AND INSTITUTION-ONLY MMMF'S 560.8 563.5 566.5 569.1 572.3 575.9 581.0 586.5 591.0 596.6 601.4 606.2 608.1 608.9 610.1 611.4 611.6 612.2 610.6 608.7 609.0 609.6 613.1 615.0 615.3 613.2 615.5 620.7 624.7 627.4 635.7 644.8 654.4 662.3 669.3 677.5

1 L T M3 PLUS | OTHER | LIQUID | ASSETS |

672.4 1 676.2 | 680.2 | 684.4 | 689.0 | 694.6 | 701.0 | 707.5 | 713.0 | 719.4 | 724.0 | 728.9 | 733.0 | 736.6 | 740.3 | 743.8 | 744.4 | 746.8 | 746.8 | 747.6 | 751.0 | 753.4 | 759.3 | 763.5 | 766.0 | 765.8 | 768.6 | 773.3 | 776.9 | 779.8 | 787.0 | 794.0 | 800.1 | 806.1 | 810.7 | 816.3 |

1 M l ] I CURRENCY , I TRAVELERS I CHECKS, I DEMAND I DEPOSITS I AND OTHER I CHECKABLE 1 DEPOSITS 1 191.3 1 184.9 1 185.4 I 189.3 I 186.5 I 190.2 I 191.9 1 191.4 I 193.9 I 196.3 I 199.6 I 204.8 I 205.9 I 199.3 1 199.8 I 203.6 I 199.4 I 202.3 I 203.3 1 201.5 1 203.2 I 205.0 I 207.0 1 211.4 1 212.9 I 204.0 I 205.5 I 210.1 I 206.2 I 208.9 1 210.1 I 210.0 I 212.8 I 214.4 1 216.7 1 222.2

1 M2 1 Ml + OVERNIGHT RP'S AND EUROS, G/P & B/D

MMMFS, MMDAS &

SAV & SM. TIME DEP.

532.1 528.2 531.6 536.9 535.5 542.3 546.3 547.6 553.2 558.5 562.6 569.8 573.6 569.2 572.9 577.5 573.6 578.8 580.7 578.5 581.4 583.8 586.8 592.4 593.9 585.6 589.6 594.9 593.1 599.5 602.7 604.4 610.0 615.3 619.7 629.3

m M2 PLUS LARGE TIME DEP., TERM RPfS, EUROS AND INSTITUTION-ONLY MMMF'S 564.9 561.5 565.5 570.6 569.3 575.4 580.7 584.5 590.2 596.5 601.9 610.1 612.1 606.3 609.0 613.3 608.9 612.1 610.7 606.7 608.1 609.4 613.1 618.3 618.3 610.4 615.8 624.3 623.8 629.1 637.2 643.6 652.8 660.6 666.5 678.3

L " 1 M3 PLUS 1 OTHER | LIQUID | ASSETS |

676.2 | 675.9 | 681.1 | 687.3 | 687.5 | 693.1 | 698.9 | 705.0 | 711.1 | 718.0 | 724.2 | 732.0 | 736.9 | 736.2 | 741.7 | 747.1 | 743.4 I 745.4 | 744.9 I 745.1 | 748.9 | 751.7 | 759.0 766.0 1 768.5 | 764.7 | 771.0 | 777.7 | 776.5 | 780.3 | 786.6 | 792.6 | 797.8 | 803.6 | 808.5 | 816.9 |



19/1 JAN... FEB.. . MAR.. . APR... MAY... JUN... JUL... AUG. . . SEP... OCT.. . NOV.. . DEC...

1972 JAN... FEB... MAR... APR... MAY... JUN... JUL... AUG... SEP... OCT... NOV. . . DEC...

1973 JAN... FEB... MAR... APR... MAY.. . JUN... JUL... AUG. . . SEP.. . OCT.. . NOV. . . DEC

1 Ml "^ I CURRENCY , ! TRAVELERS

CHECKS, DEMAND

DEPOSITS AND OTHER CHECKABLE DEPOSITS Z17.8 219.7 221.1 222.3 224. 4 225.9 227.3 228.0 228.9 229.6 230.3 230.8 232.6 234.8 236.8 238.1 238.4 239.3 241.3 243.5 245.8 247.7 249.1 252.0 254.5 255.0 254.4 255.5 257.7 259.7 26 0.4 26 0.8 260.9 262.0 264.0 265.9 |

1 M2 1 Ml + OVER-! NIGHT RP'S I AND EUROS, G/P 8 B/D

1 MMMFS, MMDAS &

SAV 8 SM. TIME DEP.

537712 642.5 651.3 661.2 669.2 674.9 681.4 687.5 694.5 700.4 706.9 712.7 719.8 728.0 735.8 741.8 746.4 752.7 762.4 771.8 780.9 789.5 796.7 805.1 813.7 817.8 818.7 823.6 1 830.6 837.3 i 841.2 ! 843.6 1 844.6 848.4 854.5 ! 861.0 |

1 M3 1 M2 PLUS ! LARGE TIME DEP., TERM RPS, EUROS AND INSTITU

TION-ONLY MMMF'S 485.1 695.9 706.2 715,2 723.6 730.3 738.3 744.2 751.8 760.2 768.4 776.2 783.3 792.9 800.3 809.0 816.3 824.8 835.5 846.6 856.3 865.7 875.7 886.0 895.8 906.1 914.8 923.3 ! 932.6 941.0 ! 950.4 i 959.1 1 965.9 ! 972.0 977.6 985.0 !

1 L 1 I M3 PLUS | 1 OTHER | 1 LIQUID | ! ASSETS |

823.0 | 830.9 | 838.2 | 846.1 | 852.3 | 859.0 | 868.9 | 875.0 | 881.2 | 888.2 | 895.2 | 903.1 | 911.0 | 920.9 | 929.6 | 938.6 | 946.1 | 955.1 | 965.6 | 976.9 | 987.0 | 997.9 |

1010.7 | 1023.0 | 1034.1 | 1045.6 | 1054.8 | 1064.7 | 1076.1 | 1087.1 | 1097.8 | 1108.5 | 1117.5 | 1125.2 | 1133.0 | 1141.7 |

1 Ml I CURRENCY , I TRAVELERS I CHECKS, I DEMAND I DEPOSITS I AND OTHER I CHECKABLE 1 DEPOSITS 1 2777S I 216.6 I 218.6 I 223.7 I 221.1 I 225.2 I 227.5 1 225.9 I 227.7 I 229.1 1 231.2 I 236.9 I 237.5 1 231.4 I 234.2 I 239.5 1 234.7 1 238.8 1 241.8 I 241.3 ! 1 244.5 ! I 247.0 ! I 250.5 ! 1 258.9 | I 259.4 | I 251.2 | I 251.6 | I 257.0 | 1 253.6 | I 259.3 | 1 261.2 | I 258.6 | I 259.5 | 1 261.4 | 1 265.7 | 1 273.3 |

1 M2 I Ml + OVER-1 NIGHT RP'S 1 AND EUROS, G/P & B/D

MMMFS, MMDAS &

SAV 8 SM. TIME DEP.

5T5TS 639.5 651.6 665.4 66S.3 677.7 684.3 685.7 691.7 697.7 703.8 713.6 722.0 724.6 736.2 746.5 745.3 756.3 766.1 ! 770.2 | 777.9 | 786.4 ! 793.4 j 806.0 | 815.4 | 813.8 | 819.2 | o28.9 i 829.4 | 841.3 | 845.o | 842.3 | 841.4 | 845.3 | 851.3 | 861.9 |

1 M3 " I M2 PLUS 1 LARGE ITIME DEP., iTERM RPfS, 1 EUROS AND INSTITU

TION-ONLY MMMF'S

ZSTT5 692.7 706.3 718.9 722.8 732.2 739.9 743.2 750.1 758.4 765.0 i 776.7 ! 786.2 I 789.3 1 800.6 I 813.2 I 815.5 | 827.2 | 837.9 | 846.2 | 854.8 | 863.7 | 872.0 | 886.3 | 897.9 I 901.8 I 914.7 | 927.9 | 931.7 | 943.6 | 953.3 | 959.6 | 965.1 | 970.3 I 973.9 | 985.3 |

1 L ~1 1 M3 PLUS 1 I OTHER 1 ! LIQUID I

ASSETS I

S2S70 1 829.1 | 839.9 | 850.4 | 851.7 | 859.8 | 869.0 I 873.7 | 879.0 | 886.0 | 892.5 | 903.5 | 913.7 | 918.5 I 931.1 | 943.3 | 945.5 | 956.5 | 966.4 | 975.8 | 984.9 | 995.8 |

1008.0 | 1023.7 | 1036.4 | 1042.5 | 1056.2 | 1069.7 | 1075.2 | 1088.3 | 1098.6 | 1107.8 | 1115.8 | 1123.6 | 1130.7 | 1142.7 |




1975 JAN... FEB. . . MAR... APR... MAY . . JUN... ,JUL. . . AUG... SEP... OCT... NOV... DEC...


1 Ml ~ I CURRENCY , I TRAVELERS I CHECKS, I DEMAND I DEPOSITS | AND OTHER I CHECKABLE 1 DEPOSITS I 267.1 I 268.3 I 269.8 I 270.1 I 270.6 1 271.8 I 272.5 I 273.1 1 274.1 I 275.3 1 276.8 1 277.5 ! 277.3 i 278.1 i 280.1 ! 279.7

282.5 286.3 286.8 288.3 289.1 288.7 291.4 291.1 292.4 294.6 295.9 297.9 299.8 299.7 300.8 302.8 303.4 306.9 307.5 310.3

1 M2 I Ml + OVER-I NIGHT RP'S 1 AND EUROS, I G/P & B/D I MMMFS, I MMDAS & I SAV & SM. 1 TIME PEP. ! 865.6 ! 870.3 ! 876.5 ! 879.2 1 881.5

884.8 ! 888.3 i 891.1

895.1 900.1 905.4 908.4 912.3 920.1 931.4 941.4 954.4 969.4 981.3 989.7 998.4

1004.6 1014.8 1023.1 1034.0 1047.8 1056.9 1068.3 1082.0 1086.3 1095.6 1108.8 1120.6 1135.8 1148.5 1163.6

M3 M2 PLUS LARGE


TION-ONLY MMMF'S 993.2

1002.6 1010.8 1021.0 1029.6 1038.0 1044.3 1048.5 1053.3 1059.0 1064.3 1070.4 1075.6 1082.8 1090.4 1096.1 1106.6 1118.9 1128.3 1135.0 1145.8 1153.8 1165.1 1172.2 1182.2 1194.1 1204.2 1216.5 1229.0 1236.1 1246.4 1258.7 1268.4 1282.3 1294.9 1 1311.8 |


1152.3 | 1165.1 | 1175.3 | 1186.4 | 1195.6 | 1205.5 | 1213.2 | 1220.7 | 1228.7 | 1236.3 | 1242.2 | 1249.2 | 1254.3 | 1260.3 | 1268.1 | 1275.4 | 1287.9 ' 1300.5 | 1310.3 | 1320.3 | 1333.0 | 1343.6 | 1358.7 | 1367.6 | 1379.9 | 1393.3 | 1404.0 | 1416.8 | 1430.6 I 1440.6 | 1453.1 | 1464.2 | 1472.5 | 1488.1 | 1500.5 | 1516.4 |

1 Ml I CURRENCY , I TRAVELERS I CHECKS, I DEMAND I DEPOSITS I AND OTHER I CHECKABLE 1 DEPOSITS 1 271.8 1 264.1 I 266.5 I 271.6 I 266.3 1 271.5 1 273.5 1 271.0 1 272.6 1 274.8 1 278.8 1 285.2 1 281.8 1 273.3 1 276.4 I 281.4 1 278.1 1 286.0 1 288.0 1 286.3 1 287.8 1 288.5 1 293.5 1 299.0 I 296.8 1 289.0 1 291.4 I 299.9 1 295.1 1 299.4 1 302.3 1 301.0 I 302.5 I 307.0 I 309.7 1 318.6


MMMFS, MMDAS &

SAV & SM. TIME DEP.

866.9 865.8 876.4 884.8 880.1 888.8 893.1 890.1 892.0 897.2 902.6 909.6 913.4 914.9 930.6 9*7.4 952.8 973.3 986.3 988.9 995.7

1002.5 1012.0 1024.3 1034.9 1041.5 1055.3 1074.9 1080.1 1089.8 1100.7 1108.2 1118.8 1134.9 1145.7 1164.9

M3 M2 PLUS LARGE


TION-ONLY MMMF'S 994.7 997.3

1010.1 1025.7 1028.5 1040.4 1047.6 1049.7 1052.9 1057.5 1060.8 1071.2 1077.0 1076.6 1089.0 1101.1 1105.3 1121.6 1132.2 1135.9 1144.8 1152.1 1162.0 1173.8 1183.5 1187.2 1202.6 1222.2 1227.1 1238.5 1250.5 1259.1 1267.3 1281.1 1292.4 1314.2

L 1 M3 PLUS 1 OTHER | LIQUID | ASSETS |

1154.3 | 1161.2 | 1176.1 | 1191.5 | 1194.5 | 1206.3 | 1214.3 | 1220.5 | 1227.3 | 1235.2 | 1240.4 | 1250.5 | 1256.0 | 1255.5 | 1267.9 | 1280.8 | 1286.6 | 1301.5 ( 1312.0 | 1319.5 | 1330.7 | 1342.3 | 1357.3 | 1370.1 | 1382.0 | 1388.0 | 1403.9 | 1423.3 | 1429.0 | 1441.1 | 1454.7 | 1462.7 | 1469.8 | 1486.9 | 1499.3 | 1519.5 |



T977 JAN... FEB... MAR... APR... MAY... JUN... JUL... AUG... SEP... OCT... NOV... DEC...


1979 JAN... FEB... MAR... APR... MAY... JUN... JUL... AUG. . . SEP... OCT... NOV... DEC...

1 Ml I CURRENCY , I TRAVELERS I CHECKS, I DEMAND I DEPOSITS I AND OTHER I CHECKABLE 1 DEPOSITS 1 3 1 3 . 2 1 315.5 I 317.4 I 320.0 I 320.5 I 322.2 I 324.6 I 326.2 I 328.4 I 331.4 I 333.1 I 335.3 I 338.8 I 339.3 I 340.8 I 344.3 I 347.6 I 350.0 I 352.0 1 353.6 I 357.6 I 358.6 1 360.4 1 363.0 I 363.1 I 364.5 I 367.3 1 372.1 1 372.4 i ( 377.4 | 1 381.2 1 I 383.8 I 1 386.2 I 1 387.0 | 1 387.5 I 1 389.0 |


MMMFS, MMDAS &

SAV & SM. TIME PEP. 1177.1 1188.3 1199.4 1211.2 1221.7 1230.3 1241.2 1249.9 1259.8 1269.5 1277.9 128>.6 ?296.2 1301.3 1308.5 1316.8 1325.9 1333.5 1341.9 1349.3 1362.5 1371.6 1379.0 1388.9 1395.2 1401.9 1412.0 1425.3 1433.4 1448.2 1460.3 1469.8 1481.7 1487.3 1490.2 1497.9

1 M3 I M2 PLUS 1 LARGE iTIME DEP., TERM RP'S, EUROS AND i INSTITUTION-ONLY i MMMF'S 1 1323.7

1335.6 1348.0 1360.7 1374.7 1387.5 1402.0 1414.5 1428.3 1443.9 1458.2 1472.5 1487.1 1497.9 1512.7 1527.6 1543.1 1554.9 1569.1 1582.3 1598.4 1613.1 1630.7 1646.4 1657.7 1669.2 1682.6 1696.9 1707.4 1726.1 1743.4 1759.5 1782.4 1795.5 1796.3 1803.6

i L | 1 M3 PLUS | I OTHER | [ LIQUID |

ASSETS |

1529.8 | 1545.2 | 1559.7 | 1574.8 | 1590.1 | 1604.9 | 1621.5 | 1637.0 | 1652.9 | 1670.5 | 1687.4 | 1704.2 | 1722.3 | 1735.2 | 1750.2 | 3767.2 1 1/83.5 | 1796.3 | 1812.5 | 1828.3 | 1847.8 | 1865.2 | 1887.3 | 1909.7 | 1923.6 | 1938.4 | 1959.3 | 1980.5 | 1998.5 | 2028.1 | 2048.0 | 2063.5 | 2089.8 | 2104.3 | 2106.1 | 2115.8 |

1 Ml I CURRENCY , I TRAVELERS I CHECKS, | DEMAND I DEPOSITS I AND OTHER I CHECKABLE 1 DEPOSITS I 317.7 I 309.0 I 312.2 I 322.7 I 315.6 I 321.7 I 326.3 I 324.3 I 327.7 I 332.0 I 335.4 I 344.1 I 343.4 I 332.0 I 334.9 I 347.5 I 342,4 I 349.4 I 353.9 1 351.7 I 357.0 I 359.4 I 362.9 I 372.5 I 367.8 ! I 356.4 ! I 360.8 | 1 376.2 I 1 367.1 | I 376.7 | 1 383.3 | 1 381.9 I 1 385.6 I 1 387.7 1 1 389.8 1 1 398.6 |

| M2 1 Ml + OVER-I MIGHT RP'S 1 ANJ EUROS, G/P & B/D

MMMFS, 1 MMDAS & SAV & SM. TIME DEP. 1178.0 1180.8 1196.8 1218.3 1219.0 1232.9 1246.2 1249.5 1259.0 1270.1 1275.8 1288.8 1297.4 1292.5 1304.7 1323.8 1322.0 i 1334.9 1346.7 1349.2 1362.5 ! 1373.6 i 1377.8 ! 1392.3 1 1396.8 | 1391.9 | 1407.3 | 1432.6 | 1428.6 | 1448.7 | 1465.1 | 1470.4 | 1482.0 | 1489.8 | 1489.7 | 1501.8 |

i M3 I M2 PLUS I LARGE iTIME DEP., TERM RP'S, EUROS AND i INSTITUTION-ONLY MMMF'S

1325.1 1328.2 1345.8 1366.8 1371.9 1388.9 1405.8 1414.6 1427.4 1443.3 1456.9 1476.8 1489.3 1490.1 1510.2 1533.4 1539.1 I 1554.2 I 1571.7 I 1582.4 I 1597.4 I 1613.0 | 1630.9 I 1652.9 | 1660.6 | 1661.6 I 1680.0 | 1703.1 | 1702.9 | 1723.7 | 1745.1 | 1759.8 | 1781.1 | 1795.3 | 1797.0 | 1810.8 |

1 L 1 1 M3 PLUS | 1 OTHER I I LIQUID I 1 ASSETS |

1532.0 | 1539.4 I 1559.2 I 1582.2 | 1588.2 I 1604.9 | 1623.1 | 1635.0 | 1650.0 I 1669.4 | 1686.7 I 1709.1 I 1725.6 | 1729.3 | 1749.8 | 1774.5 I 1781.0 | 1794.8 | 1812.8 | 1825.8 | 1844.6 | 1863.8 | 1887.5 | 1916.4 | 1928.0 | 1933.4 | 1959.4 | 1988.6 | 1995.9 I 2025.1 | 2046.3 | 2059.9 | 2085.5 | 2102.2 | 2106.6 | 2123.4 I



1980 JAN... FEB... MAR... APR... MAY... JUN... JUL... AUG... SEP... OCT... NOV... DEC... 1981 JAN... FEB... MAR.. . APR... MAY... JUN... JUL... AUG... SEP... OCT... NOV... DEC... 1982 JAN... FEB... MAR... APR... MAY... JUN... JUL... AUG... SEP... OCT... NOV... DEC...

1 "Ml I CURRENCY , I TRAVELERS I CHECKS, I DEMAND | DEPOSITS I AND OTHER I CHECKABLE 1 DEPOSITS 1wn* I 395.0 1 394.5 I 388.1 I 388.4 I 393.8 I 398.3 I 406.4 I 412.1 I 416.7 I 419.0 I 414.8 I 417.1 I 419.5 I 423.9 1 431.1 I 428.7 I 428.4 I 430.6 1 433.5 I 433.9 I 434.8 I 438.1 I 441.8 I 449.4 I 447.0 I 447.3 I 450.9 I 451.0 I 451.6 I 452.4 I 457.7 I 463.6 I 471.2 I 477.7 I 480.8

. -~M2' "" Ml + OVERNIGHT RP'S AND EUROS, G/P & B/D MMMFS, MMDAS & SAV & SM. TIME DEP. 1507.7 1520.9 1526.8 1522.0 1531.8 1552.1 1572.8 1589.3 1604.0 1616.7 1630.1 1631.4 1640.6 1652.5 1670.1 1690.0 1696.4 1705.7 1717.7 1734.2 1745.8 1759.8 1777.2 1794.4 1813.8 1816.9 1826.9 1837.8 1850.3 1861.5 1874.4 1893.6 1910.5 1924.8 1939.4 1954.9

M3 M2 PLUS LARGE TIME DEP., TERM RPfS, EUROS AND INSTITUTION-ONLY MMMF'S 1818.6 1838.4 1846.3 1846.4 1859.1 1878.9 1900.0 1918.3 1932.6 1951.9 1973.6 1988.5 2013.7 2032.0 2048.4 2072.8 2090.0 2107.2 2129.8 2152.1 2173.9 2195.3 2215.5 2235.8 2260.8 2269.2 2285.2 2306.2 2322.2 2339.9 2357.0 2384.3 2405.1 2426.7 2439.1 2446.8

' L" 1 M3 PLUS | OTHER | LIQUID | ASSETS I

2133.4 I 2.155.7 I 2167.8 | 2176.7 | 2189.8 | 2203.3 | 2220.1 | 2242.0 | 2260.5 | 2279.2 | 2304.8 | 2324.7 | 2353.0 I 2375.8 | 2387.5 | 2407.0 | 2429.7 | 2452.6 | 2476.6 | 2501.5 | 2527.6 | 2556.1 | 2579.0 | 2596.5 | 2625.9 | 2646.0 | 2664.3 | 2687.1 | 2709.0 | 2731.6 | 2755.5 | 2779.2 | 2803.8 I 2831.1 | 2841.4 | 2854.5 |

1 Ml I CURRENCY , I TRAVELERS I CHECKS, I DEMAND I DEPOSITS I AND OTHER I CHECKABLE 1 DEPOSITS 1 396.1 1 386.3 I 387.8 I 392.6 I 383.3 1 393.1 1 400.5 1 404.3 1 411.1 I 417.3 1 421.3 I 424.8 1 421.8 1 410.6 1 417.3 1 436.3 1 423.5 1 427.8 1 432.8 1 430.9 I 432.3 I 435.1 I 440.4 I 452.2 I 454.3 I 437.9 I 440.9 I 456.3 I 446.1 I 451.3 I 454.8 I 454.9 1 461.4 1 471.3 I 479.9 1 491.8

M2 Ml + OVERNIGHT RP'S AND EUROS, G/P & B/D MMMFS, MMDAS & SAV & SM. TIME DEP. 1509.6 1509.7 1522.0 1529.4 1526.6 1552.2 1577.6 1590.0 1603.6 1619.1 1630.1 1635.5 1642.6 1641.4 1665.8 1698.1 1691.1 1705.9 1722.5 1734.4 1713.7 1761.3 1777.1 1798.7 1816.2 lc06.3 1823.9 1846.6 1845. C, 1862.5 1879.3 1892.5 1905.8 1924.8 1939.1 1959.6

M3 M2 PLUS LARGE TIME DEP., TERM RP'S, EUROS AND INSTITUTION-ONLY MMMF'S 1822.0 1831.0 1844.1 1852.6 1854.4 1875.7 1900.9 1918.3 1930.8 1951.8 1974.8 1995.8 2017.2 2025.1 2046.8 2080.1 2085.4 2104.0 2130.0 2151.6 2170.3 2194.3 2216.7 2243.4 2264.3 2262.6 2284.7 2314.2 2318.4 2338.0 2357.2 2382.8 2399.4 2424.7 2440.2 2454.4

1 L 1 M3 PLUS 1 OTHER | LIQUID | ASSETS |

2139.2 1^ 2151.7 | 2169.1 | 2185.2 | 2187.1 | 2199.6 | 2217.4 | 2237.6 | 2255.5 | 2277.2 | 2305.4 | 2332.5 | 2359.6 | 2373.1 | 2390.0 | 2416.0 | 2426.0 | 2448.9 | 2473.0 | 2496.5 | 2520.7 | 2552.9 | 2579.7 | 2604.7 | 2633.1 | 2644.1 | 2668.4 | 2696.4 | 2704.9 | 2728.6 | 2752.0 | 2778.0 | 2794.5 | 2827.0 | 2842.0 | 2862.6 |



1983 JAN.. FEB. . MAR. . APR. . MAY. . JUN. . JUL. . AUG. . SEP. . OCT. . NOV. . DEC. . 1984 JAN..

FEB. . MAR . APR. . MAY. . JUN. . JUL. . AUG. . SEP. . OCT. . NOV. . DEC. .

1 Ml 1 CURRENCY , I TRAVELERS 1 CHECKS, I DEMAND I DEPOSITS I AND OTHER I CHECKABLE 1 DEPOSITS I 484.4 I 490.1 I 495.8 1 499.2 1 505.8 I 509.9 .1 514.8 I 518.4 1 520.5 I 524.0 1 526.2 I 528.0 1 531.4 1 534.2 1 537.3 I 539.2 1 542.5 1 547.3 1 546.9 1 548.9 1 551.5 1 548.3 1 553.7 1 558.5

1 M2 1 Ml + OVERNIGHT RP'S AND EUROS, G/P a B/D MMMFS, MMDAS & SAV & SM. TIME PEP. 2009.3 2046.0 2062.8 2077.3 2093.4 2107.7 2120.6 2131.7 2145.1 2164.3 2178.1 2188.8 2202.2 2216.9 2229.1 2241.1 2255.2 2269.3 2280.2 2292.8 2308.2 2318.7 2345.9 2371.7

1 M3 1 M2 PLUS LARGE TIME DEP., TERM RP'S, EUROS AND INSTITUTION-ONLY MMMF'S 2479.5 2507.1 2523.6 2541.0 2558.6 2580.7 2596.4 2615.2 2637.4 2655.8 2683.3 2701.7 2719.3 2741.7 2765,4 2788.0 2815.2 2839.0 2862.1 2879.0 2901.3 2925.4 2960.0 2995.5

1 L 1 M3 PLUS | OTHER I LIQUID | ASSETS I

2895.6 | 2921.9 | 2941.1 | 2969.7 | 2989.0 | 3016.6 | 3047.3 | 3067.1 | 3094.5 | 3111.3 | 3139.8 | 3175.9 | 3195.6 | 3226.9 | 3267.9 ' 3294.1 | 3327.4 | 3368.3 | 3403.5 | 3430.8 | 3460.3 | 3480.4 | 3509.3 | 3543.7 |

1 Ml 1 CURRENCY , I TRAVELERS I CHECKS, I DEMAND I DEPOSITS I AND OTHER I CHECKABLE 1 DEPOSITS 1 489.6 I 480.5 1 489.2 1 505.3 1 500.7 1 510.0 I 517.4 1 514.7 I 517.8 I 524.0 1 528.5 1 539.7 I 536.8 1 523.9 ! 530.4 1 545.6 1 537.3 1 547.9 1 549.9 1 545.0 1 548.5 1 548.2 1 555.9 1 570.4

M2 Ml + OVERNIGHT RP'S AND EUROS, G/P & B/D MMMFS, MMDAS a SAV & SM. TIME PEP. 2012.8 2036.7 2061.1 2087.4 2089.2 2109.6 2125.7 2128.3 2137.7 2162.7 2177.1 2194.0 2206.7 2208.9 2228.5 2252.2 2251.3 2272.3 2285.7 2287.6 2298.6 2316.1 2344.0 2376.6

1 ~M3 1 M2 PLUS i LARGE ITIME DEP., TERM RP'S, EUROS AND INSTITUTION-ONLY MMMF'S 2483.1 2499.9 2523.6 2550.7 2555.5 2580.7 2597.8 2612.2 2629.1 2652.7 2683.9 2709.1

2723.2 2734.6 2766.4 2798.9 2812.8 2840.5 2863.7 2875.0 2891.2 2920.9 2960.5 3002.6

1 L [ 1 M 3 PLUS 1 1 OTHER | 1 LIQUID | ! ASSETS |

~29TTS75" 1 2920.3 | 2946.4 | 2980.3 | 2984.1 | 3014.9 | 3045.0 | 3065.2 | 3082.3 | 3106.0 | 3140.0 | 3179.7 | 3203.9 | 3225.1 | 3273.9 | 3305.1 I 3321.8 | 3368.0 | 3403.4 | 3423.6 | 3447.8 | 3476.2 | 3509.4 | 3545.4 i


TABLE 2 COMPONENTS OF MONEY STOCK MEASURES AND RELATED ITEMS SEASONALLY ADJUSTED, BILLIONS OF DOLLARS

1959 JAN... FEB. . . MAR... APR... MAY.. . JUN... JUL... AUG... SEP... OCT. . . NOV. . . DEC... 1960 JAN... FEB... MAR... APR... MAY... JUN... JUL... AUG... SEP... OCT... NOV. . . DEC... 1961 JAN... FEB. . . MAR... APR... MAY... JUN...

JUL... AUG. . . SEP.. . OCT... NOV... DEC...

I CURRENCY

I 28.7 I 28.8 I 28.8 1 28.8 I 28.9 I 29.1 1 29.0 I 29.1 I 29.0 I 29.0 I 29.0 1 29.0 I 29.0 I 29.0 I 29.0 I 29.0 I 29.0 I 29.0 I 28.9 I 29.0 I 29.0 I 29.0 I 29.0 I 28.9 I 28.9 I 28.9 I 28.9 I 28.9 1 28.9 I 28.9 I 29.0 1 29.1 I 29.2 I 29.4 I 29.4 I 29.5

NONBANK TRAVELERS CHECKS 574 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4

DEMAND DEPOSITS

TW77~ 111.2 111.5 111.4 112.3 112.7 113.2 113.4 112.5 112.1 112.0 111.6 111.7 111.6 111.5 111.2 111.3 111.3 111.9 113.0 112.9 112.7 112.6 112.5 112.9 113.5 113.8 114.0 114.6 114.8 114.8 115.2 115.4 115.7 116.2 116.5

OTHER CHECKABLE DEPOSITS oTo" 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 ! 0.0 0.0 0.0 0.0 0.0 0.0 1 0.0

NONTRANSACTION COMPONENTS IN M2

146.8~~ 147.5 148.4 149.5 150.7 151.8 152.7 153.6 154.6 155.2 155.8 156.8 157.3 157.7 158.4 159.5 160.4 161.6 163.0 164.5 166.0 167.6 169.1 170.5 172.0 173.9 175.1 176.7 178.4 1 180.0 181.5 182.9 184.3 185.8 187.4 1 189.0

IN M3 ONLY 273~ 2.3 2.3 2.2 2.2 2.2 2.1 2.1 2.0 2.0 2.0 2.0 2.0 2.0 2.0 2.1 2.1 2.1 2.2 2.4 2.5 2.7 2.8 2.9 3.1 3.4 3.6 3.9 4.2 4.5 4.9 5.1 5.2 5.4 5.5 5.6

SAVINGS DEPOSITS AT COMMERCIAL BANKS 51.8 51.8 52.0 52.2 52.5 52.8 53.0 53.1 53.3 53.5 54.2 54.8 54.5 54.3 54.4 54.5 54.6 54.8 55.1 5^.5 56 io 56.5 57.6 58.3 58.8 59.4 59.9 60.3 60.6 61.0 61.2 61.5 61.8 62.2 63.5 64.2

AT THRIFT INSTITUTIONS 84.2 84.8 85.6 86.2 87.0 87.9 88.4 89.2 90.0 90.3 90.8 91.7 92.1 92.8 93.6 94.2 94.9 95.8 96.4 97.3 98.3 99.0 99.8 100.8

101.5 102.4 103.4 104.1 104.9 106.1 106.7 107.6 108.6 109.2 110.2 1 111.3

TOTAL

136.0 136.6 137.6 138.4 139.5 140.7 141.4 142.3 143.3 143.7 145.0 146.4 146.7 147.1 148.0 148.7 149.5 150.7 151.5 152.8 154.3 155.5 157.4 159.1 160.3 161.8 163.3 i 164.3 165.5 1 167.0 167.9 169.1 170.4 1 171.5 173.7 1 175.5

SMALL AT ' COMMERCIAL BANKS 9.4 9.4 9.5 9.7 9.7 9.8 9.7 9.8 9.9 9.8 9.2 8.9 9.0 8.9 9.0 9.2 9.2 9.4 9.7 10.0 10.1

10.3 9.8 9.7 9.8 10.1 10.1 10.3 10.9 11.2 11.4 11.6 11.9 12.0 11.3 11.1

. TIME DEPOSITS AT THRIFT INSTITUTIONS 2.3 2.3 2.3 2.3 2.3 2.4 2.4 2.4 2.5 2.5 2.5 2.5 2.6 2.6 2.6 2.6 2.7 2.7 2.7 2.8 2.8 2.8 2.8 2.8 2.9 3.0 3.0 3.1 3.2 3.2 3.3 3.4 3.5 3.5 3.6 1 3.7

TOTAL

TTTT 11.7 11.8 12.0 12.1 12.2 12.1 12.2 12.4 12.3 11.7 11.4 11.5 11.5 11.6 11.8 11.8 12.1 12.4 12.7 12.9 13.1 12.7 12.5 12.8 13.1 13.1 13.4 14.0 1 14.4 14.7 1 15.0 ! 15.4 1 15.5 I 14.9 1 14.8



1962 JAN.. FEB. . MAR. . APR. . MAY. . JUN. . JUL. . AUG. . SEP. . OCT. . NOV. . DEC. .

1963 JAN . FEB. . MAR. . APR. . MAY. . JUN. . JUL. . AUG. . SEP. . OCT. . NOV. . DEC. .

1964 JAN.. FEB... MAR... APR. . MAY. . JUN. . JUL. . AUG. . SEP. . OCT. . NOV. . DEC. .

1 CURRENCY

.1 29.6

.1 29.7 .1 29.8 .1 30.0 .1 30.0 .1 30.1 .1 30.2 .1 30.2 .1 30.3 .1 30.4 .1 30.5 .1 30.6

.1 30.7 1 30.9 1 31.0 1 31.2 1 31.3 1 31.5 1 31.7 1 31.8 1 32.0 1 32.1 1 32.3 1 32.5 1 32.6 1 32.7 1 32.9 1 33.0 1 33.2 1 33.5 1 33.5 I 1 33.7 ! 1 33.9 1 34.0 1 34.2 1 34.3

NONBANK TRAVELERS CHECKS

074 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 ! 0.5 0.5 0.5 0.5 ! 0.5 ! 0.5 0.5 0.5 0.5

DEMAND DEPOSITS

116.5 116.9 117.1 117.3 117.7 117.5 117.2 117.3 117.0 117.3 117.8 118.2 U8.5 119.0 119.1 119.4 120.0 119.9 120.7 120.9 120.9 121.4 122.3 121.7 122.1 122.6 122.5 122.7 123.1 123.1 12*.3 ' 125.1 125.8 126.3 126.8 127.0

1 OTHER CHECKABLE DEPOSITS 570 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1

I NONTRANSACTION i COMPONENTS 1 IN M2 I IN M3 [ | ONLY

19T70 1 J76T 193.3 | 6.0 195.7 | 6.3 197.9 | 6.5 199.4 | 6.7 201.2 I 7.0 203.1 | 7.1 205.0 | 7.2 207.0 | 7.6 209.2 | 7.9 211.2 | 8.2 213.5 | S.S 215 C ' 9.1 217.7 | 9.3 219.9 | 9.6 222.2 | 9.8 224.3 | 10.1 226.4 | 10.2 228.4 | 10.4 230.5 | 10 8 232.4 | 11.3 234.4 | 11.7 236.5 | 12.3 238.5 | 12.8 240.2 I 13.3 241.9 | 13.7 243.6 | 13.8 245.5 | 14.1 247.4 I 14.6 249.7 | 15.0 251.8 | 15.4 254.1 | 15.7 256.3 | 16.1 258.4 | 16.8 260.7 | 17.3 262.9 | 17.7

I SAVINGS DEPOSITS 1 AT ! COMMER-i CIAL 1 BANKS 1 64.6 65.0 1 65.6 66.1 66.6 67.1

67.7 68.2 68.7 69.3 70.6 71.3 71.8 72.2 72.7 73.1 73.6 74.1 74.5 74.8 75.1 75.1 76.2 76.8 77.1 77.4 | 77.7 ! 78.2 i 78.6 79.1 79.4 i 79.9 ! 80.4 80.9 82.1 82.9

1 AT THRIFT INSTITUTIONS 112.0 112.9 114.1 114.9 115.8 117.0 117.8 118.8 120.1 121.0 122.1 123.4 124.5 125.9 127.4 128.5 129.7 131.1 132.0 133.0 134.4 135.2 136.3 137.6 138.5 139.8 141.2 142.2 143.5 145.1 146.1 147.5 149.0 149.9 151.1 152.4

1 TOTAL

1 176.6 1 178.0 1 179.7 ! 181.0 ! 182.4 184.1 185.5 187.0 188.8 190.3 192.7 194.8 196.3 198.1 200.1 201.6 203.3 205.2 206.5 207.9 209.5 i 210.3 1 212.6 i 214.4 1 215.6 | 217.2 | 218.9 I 220.3 I 222.1 | 224.1 | 225.5 I 227.4 | 229.4 I 230.8 | 233.2 I 235.2 I

I SMALL TIME DEPOSITS T 1 AT COMMERCIAL BANKS 11.9 12.7 13.6 14.2 14.2 14.5 14.7

15.0 15.4 15.7 15.3 15.5 15.9 16.1 16.6 17.0 17.4 17.7 18.1 18.7 19.2 20.0 i 19.7 i 19.9 i 20.1 I 20.3 | 20.5 | 20.7 I 20.8 | 21 .3 | 21.6 | 21.9 | 22.3 I 22.5 | 22.2 I 22.4 |

1 AT I THRIFT INSTITUTIONS

3.8 3.8 3.9 4.0 4.0 4.1 4.2 4.3 4.4 4.5 4.5 4.6 4.7 4.8 4.9 4.9 5.0 5.1 5.2 5.3 5.4 5.5 5.6 5.7 5.8 5.8 ! 5.9 ! 5.9 1 6.0 6.1 j 6.2 | 6.3 I 6.4 ! 6.5 6.7 6.8 |

I TOTAL |

I 15.6 I 16.5 1 17.4 I 18.1 1 18.2 ! 18.6 ! 18.9 ! 19.2 1 19.8 20.2 19.8 20.1

20.6 20.9 21.4 22.0 22.4 22.8 23.2 24.0 24.6 25.4 25.3 25.5 25.9 26.1 26.4 26.6 26.8 27.3 27.8 28.2 28.7 29.0 23.9 29.2



1965 JAN.. FEB. . MAR. . APR. . MAY. . JUN. . JUL. . AUG. . SEP. . OCT. . NOV. . DEC. . 1966 JAN.. FEB. . MAR. . APR. . MAY. . JUN. . JUL. . AUG. . SEP. . OCT. . NOV. . DEC. . 1967 JAN.. FEB. . MAR. . APR. . MAY. . JUN. . JUL. . AUG. . SEP. . OCT. . NOV. . DEC. .

I CURRENCY

I 34.4 I 34.6 I 34.7 I 34.7 I 34.9 I 35.0 I 35.2 I 35.4 I 35.7 I 35.9 I 36.2 I 36.3 I 36.6 I 36.8 I 36.9 .1 37.1 .1 37.3 .I 37.4 I 37.6 .1 37.8 .I 37.9 I 38.0 I 38.2 I 38.3 I 38.6 I 38.8 I 38.9 1 39.0 I 39.2 I 39.3 I 39.4 I 39.6 I 39.8 I 40.0 I 40.1 I 40.4

NONBANK TRAVELERS CHECKS 075 0.5 0.5 0.6 0.6 0.6 0.6 0.6 0.6 P.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.7

DEMAND DEPOSITS

127.4 127.3 127.8 128.3 127.8 128.2 128.8 129.2 130.2 131.1 131.5 132.5 133.5 133.9 134.6 135.7 135.0 135.2 133.8 134.0 135.0 134.2 134.2 134.6 134.3 135.2 136.9 136.3 137.6 138.8 139.9 141.2 142.0 142.8 143.3 143.9

OTHER CHECKABLE DEPOSITS 671 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1


265.5 268.0 27 0.0 271.9 273.8 276.1 278.2 280.5 282.7 285.1 287.6 289.8 291.6 293.3 294.8 295.9 297.1 297.7 298.9 300.2 301.7 303.1 304.4 306.3 308.3 310.2 312.8 316.2 319.7 323.1 326.5 329.6 332.3 335.0 336.9 339.2

IN M3 ONLY 18.3 18.6 18.8 19.0 19.3 19.8 20.4 21.0 21.5 22.4 22.6 22.9 2^.2 23.2 23.7 24.7 25.4 26.0 26.9 27.0 26.8 25.8 24.7 25.1 27.5 29.3 30.2 30.3 30.6 31.1 31.3 31.9 32.2 32.3 32.6 32.7

SAVINGS DEPOSITS AT COMMERCIAL BANKS 83.7 84.4 85.0 85.7 86.3 86.9 87.6 88.4 89.2 90.0 91.5 92.4 92.5 92.4 92.0 90.7 90.3 89.9 90.3 89.8 89.6 89.3 89.8 89.9 89.6 89.5 89.7 90.3 90.9 91.5 92.0 92.5 92.9 93.4 93.9 94.1

AT THRIFT INSTITUTIONS 153.2 154.4 155.7 156.4 157.4 158.8 159.5 160.4 161.7 162.3 163.3 164.5 165.1 165.9 166.1 165.3 164.8 164.8 163.9 163.4 163.5 162.8 162.8 163.3 163.1 163.4 164.2 164.8 165.8 166.8 167.4 168.2 169.1 169.2 169.5 169.6

1 TOTAL

236.9 238.8 240.7 242.1 243.7 245.7 247.0 248.8 250.8 252.3 254.8 256.9 257.6 258.3 258.1 256.0 255.1 254.7 254.3 253.2 253.1 252.2 252.6 253.1 252.7 252.9 253.9 255.1 256.7 258.3 259.5 26 0.8 262.0 262.6 263.4 263.7

SMALL

AT COMMERCIAL BANKS 23.0 23.8 24.2 24.4 24.8 25.2 25.6 25.9 26.3 26.7 26.5 26.7 27.4 28.4 29.6 31.6 33.0 33.5 34.1 35.6 36.8 37.9 38.0 38.7 39.7 40.6 41.6 42.7 44.0 45.1 46.5 47.4 48.5 49.3 49.7 50.7

. TIME DEPOSITS I AT THRIFT INSTITUTIONS 6.9 6.9 6.9 6.9 7.0 7.1 7.2 7.3 7.5 7.6 7.7 7.8 7.9 8.3 9.0 9.8 10.6 11.4 12.2 12.9 13.6 14.5 15.4 16.3 17.4 18.7 19.4 20.1 20.8 21.6 22.2 22.9 23.6 24.6 25.7 27.1

TOTAL I 1 29.9 30.7 31.1 31.4 31.8 32.2 32.8 33.2 33.8 34.3 34.2 34.5

35.3 36.7 38.6 41.4 43.6 44.9 46.3 48.5 50.4 52.4 53.4 55.0 57.1 59.3 60.9 62.8 64.8 66.7 68.7 70.3 72.0 73.9 75.4 1 77.8






I CURRENCY

1 41.1 I 40.8 1 41.0 1 41.4 1 41.5 1 41.8 1 42.0 1 42.3 1 42.6 1 42.8 1 43.1 1 43.4 1 43.6 1 43.9 1 44.1 1 44.2 1 44.4 I 44.7 1 44.9 1 45.1 1 45.3 I 45.6 1 45.9 1 46.1 1 46.4 1 46.5 1 46.7 1 46.9 1 47.3 1 47.6 1 47.9 1 48.1 1 48.4 1 48.6 1 48.8 1 49.2

NONBANK TRAVELERS CHECKS

O 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.8 0.8 0.8 0.8 0.8 0.8 0.8 0.8 0.8 0.8 0.8 0.8 0.8 0.8 0.9 0.9 0.9 0.9 0.9 0.9 0.9 0.9 1.0 1.0 1.0

DEMAND DEPOSITS

144.5 145.0 145.6 146.4 147.7 148.8 149.7 150.7 151.2 152.4 154.0 155.1 156.2 156.6 157.1 157,7 157.6 157.8 157.9 157.7 157.9 158.4 158.7 158.8 160.8 159.5 160.0 160.8 160.8 160.9 161.1 162.8 164.5 165.3 165.9 166.3

OTHER CHECKABLE DEPOSITS

oTI 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.1 0.1 0.1

NONTRANSACTION 1 COMPONENTS

IN M2

341.3 343.5 345.4 347.3 349.0 351.2 353.5 356.1 359.1 362.0 364.2 366.9 368.7 37 0.3 372.0 373.3 373.8 375.1 376.1 376.9 378.2 378.9 381.4 383.7 383.1 381.4 381.5 382.3 384.8 387.6 390.4 394.1 398.5 402.7 406.5 411.5

i IN M3 ONLY 33.1 33.3 33.7 33.2 33.3 33.3 35.0 36.6 37.2 38.6 39.2 39.9 38.8 37.2 36.1 35.4 35.0 33.6 30.7 28.0 26.7 25.7 26.1 25.5 24.0 24.7 26.3 29.7 30.7 30.2 35.3 38.8 42.0 44.6 46.9 49.3

SAVINGS DEPOSITS AT

COMMERCIAL BANKS 94.3 94.5 94.7 94.8 94.8 94.8 94.7 94.9 95.2 95.4 95.8 96.1 96.1 95.9 95.7 95.3 95.0 9". Z 94.1 93.9 93.9 93.8 Si.8 93.8 93.7 92.7 92.2 92.3 92.5 93.1 94.1 95.0 96.0 96.9 97.7 98.6

AT THRIFT INSTITU-TIONS 168.9 169.0 169.6 169.5 169.7 170.1 169.9 170.3 171.3 171.3 171.6 172.8 172.6 172.3 173.2 172.6 172.4 173.1 171.8 170.5 170.6 169.7 169.5 169.8 169.0 165.3 162.2 159.3 157.6 157.4 157.4 157.8 159.0 160.1 161.1 162.3

TOTAL

263.2 263.5 264.3 264.3 264.5 264.9 264.6 265.3 266.5 266.7 267.4 268.9 268.7 268.2 268.9 267.9 267.3 267.9 266.0 264.4 264.6 263.5 263.3 263.7 262.7 257.9 254.5 251.6 250.1 250.5 251.4 252.9 255.0 257.0 258.7 261.0

SMALL TIME DEPOSITS | AT

i COMMERCIAL BANKS 51.7 52.8 53.4 54.3 55.2 56.2 57.6 58.9 60.5 61.8 62.6 63.5 64.3 65.1 66.0 66.9 67.4 68.0 69.3 69.7 70.1 70.4 70.8 71.6 71.3 71.3 71.5 71.5 72.4 73.9 74.4 75.2 76.2 77.1 78.2 79.3

1 AT I THRIFT IINSTITU-TIONS

28.1 29.4 29.9 30.5 31.2 32.1 32.8 33.4 33.8 35.1 36.4 37.1 37.7 39.3 39.4 40.2 40.9 41.3 42.6 44.2 45.3 46.7 47.7 48.8 49.4 52.2 1 55.5 1 58.8 ! 61.7 1 63.3 1 65.3 1 66.9 1 68.1 69.3 | 70.6 i 71.8 |

i TOTAL |

79.8 82.2 83.4 84.9 86.5 88.2 90.5 92.3 94.3 96.9 99.0 100.5 101.9 104.4 105.4 107.1 108.4 109.3 111.8 113.9 115.4 117.0 118.5 120.4 120.6 123.5 127.0 130.4 134.1 137.1 139.6 142.2 144.3 146.4 148.7 151.1



1 9 7 1 J A N . . FEB. . MAR. . APR. . MAY. . JUN. . JUL. . AUG. . S E P . . OCT. . NOV. . DEC. .

1 9 7 2 J A N . . FEB. . MAR. . APR. . MAY. . JUN. . JUL. . AUG. . S E P . . OCT. . NOV. . DEC. .

1 9 7 3 JAN. . FEB. . MAR. . APR. . MAY. . JUN. . JUL. . AUG. . S E P . . OCT. . NOV. . DEC. .

I CURRENCY

1 4 9 . 4 1 4 9 . 8 1 5 0 . 0 1 5 0 . 3 I 5 0 . 6 1 5 1 . 0 1 5 1 . 5

.1 5 1 . 8 I 5 2 . 1 1 5 2 . 3

.1 5 2 . 4 I 5 2 . 6

1 5 3 . 0 1 5 3 . 2

.1 5 3 . 5 1 5 3 . 6 1 5 4 . 0 1 5 4 . 3 1 5 4 . 6 I 5 4 . 9 1 5 5 . 4 1 5 5 . 8 I 5 6 . 3 1 5 6 . 8

I 5 7 . 2 I 5 7 . 5 I 5 7 . 9 I 5 8 . 4 1 5 8 . 8 1 5 9 . 3 1 5 9 . 5 1 5 9 . 9 1 6 0 . 3 I 6 0 . 6 I 6 1 . 0 I 6 1 . 6

NONBANK TRAVELERS

CHECKS

TTo 1 .0 1 .0 1 .0 1 .1 1 .1 1 .1 1 .1 1 .1 1 .1 1 .1 1 .1

1 .1 i . 2 1 . 2 1 . 2 1 . 2 1 . 2 1 . 2 1 . 2 1 . 3 1 . 3 1 . 3 1 . 3

1 . 4 1 . 4 1 . 4 1 . 4 1 . 4 1 . 4 1 . 4 1 . 4 1 . 4 1 . 5 1 . 5 1 . 5

DEMAND DEPOSITS

1 6 7 . 2 1 6 8 . 8 1 6 9 . 9 1 7 0 . 8 1 7 2 . 6 1 7 3 . 6 1 7 4 . 5 1 7 4 . 9 1 7 5 . 6 1 7 6 . 1 1 7 6 . 5 1 7 6 . 9

1 7 8 . 3 1 8 0 . 2 1 8 1 . 9 1 8 3 . 1 1 8 3 . 0 1 8 3 . 6 1 8 5 . 4 1 8 7 . 2 1 8 9 . 0 1 9 0 . 4 1 9 1 . 3 1 9 3 . 7

1 9 5 . 8 1 9 5 . 8 1 9 4 . 9 1 9 5 . 4 1 9 7 . 2 1 9 8 . 7 1 9 9 . 2 1 9 9 . 2 1 9 8 . 9 1 9 9 . 6 2 0 1 . 2 2 0 2 . 4


oTi 0 . 2 0 . 2 0 . 2 0 . 2 0 . 2 0 . 2 0 . 2 0 . 2 0 . 2 0 . 2 0 . 2

0 . 2 0 . 2 0 . 2 0 . 2 0 . 2 0 . 2 0 . 2 0 . 2 0 . 2 0 . 2 0 . 2 0 . 2

0 . 2 0 . 3 0 . 3 0 . 3 0 . 3 0 . 3 0 . 3 0 . 3 0 . 3 0 . 3 0 . 3 0 . 3

NONTRANSACTION COMPONENTS

IN M2

4 1 6 . 5 4 2 2 . 8 4 3 0 . 2 4 3 8 . 8 4 4 4 . 8 4 4 9 . 0 4 5 4 . 1 4 5 9 . 5 4 6 5 . 5 47 0 . 8 4 7 6 . 7 4 8 1 . 9

4 8 7 . 2 4 9 3 . 2 4 9 8 . 9 5 0 3 . 7 5 0 8 . 0 5 1 3 . 4 5 2 1 . 0 5 2 8 . 3 5 3 5 . 1 5 4 1 . 7 5 4 7 . 5 5 5 3 . 2

5 5 9 . 2 5 6 2 . 8 5 6 4 . 3 5 6 8 . 1 5 7 2 . 9 5 7 7 . 6 5 8 0 . 7 5 8 2 . 8 5 8 3 . 6 5 8 6 . 4 5 9 0 . 5 5 9 5 . 1

IN M3 ONLY

5 0 . 9 5 3 . 4 5 4 . 9 5 4 . 0 5 4 . 4 5 5 . 4 5 6 . 9 5 6 . 7 5 7 . 3 5 9 . 7 6 1 . 5 6 3 . 5

6 3 . 5 6 4 . 9 6 4 . 6 6 7 . 3 7 0 . 0 7 2 . 1 7 3 , 1 7 4 . 8 7 5 . 4 7 6 . 2 7 9 . 0 8 0 . 9

8 2 . 1 8 8 . 4 9 6 . 1 9 9 . 7

1 0 2 . 0 1 0 3 . 7 1 0 9 . 2 1 1 5 . 5 1 2 1 . 3 1 2 3 . 6 1 2 3 . 2 1 2 4 . 0

SAVINGS DEPOSITS |

AT COMMER-

CIAL BANKS

9 9 . 7 1 0 1 . 2 1 0 3 . 3 1 0 5 . 2 1 0 6 . 1 1 0 6 . 9 1 0 7 . 6 1 0 8 . 6 1 0 9 . 7 1 1 0 . 7 1 1 1 . 7 1 1 2 . 8

1 1 4 . 1 1 1 5 . 3 1 1 6 . 3 1 1 7 . 0 1 1 7 . 4 1 1 8 . 3 1 1 9 . 3 1 2 0 . 9 1 2 2 . 3 1 2 3 . 2 1 2 4 . 0 1 2 4 . 8

1 2 5 . 0 1 2 4 . 7 1 2 4 . 5 1 2 4 . 6 1 2 5 . 3 1 2 5 . 9 1 2 6 . 3 1 2 6 . 1 1 2 6 . 3 1 2 7 . 0 1 2 7 . 6 1 2 8 . 0

AT THRIFT

INSTITU-TIONS 1 6 3 . 8 1 6 4 . 9 1 6 6 . 1 1 6 7 . 6 1 6 9 . 6 1 7 1 . 4 1 7 3 . 2 1 7 4 . 8 1 7 6 . 2 1 7 7 . 5 1 7 8 . 5 1 7 9 . 4

1 8 0 . 6 1 8 1 . 8 1 8 3 . 2 1 8 4 . 3 1 8 5 . 3 1 8 6 . 7 1 8 8 . 4 1 9 0 . 2 1 9 1 . 8 1 9 3 . 4 1 9 5 . 1 1 9 6 . 6

1 9 7 . 7 1 9 8 . 4 1 9 9 . 1 1 9 9 . 4 1 9 9 . 8 2 0 0 . 7 2 0 1 . 1 1 9 9 . 8 1 9 8 . 5 1 9 8 . 5 1 9 8 . 2 1 9 8 . 8

TOTAL

2 6 3 . 5 2 6 6 . 1 2 6 9 . 5 2 7 2 . 8 2 7 5 . 7 2 7 8 . 2 2 8 0 . 7 2 8 3 . 4 2 8 5 . 9 2 8 8 . 2 2 9 0 . 2 2 9 2 . 2

2 9 4 . 6 2 9 7 . 2 2 9 9 . 5 3 0 1 . 3 3 0 2 . 7 3 0 5 . 0 3 0 7 . 7 3 1 1 . 2 3 1 4 . 1 3 1 6 . 6 3 1 9 . 1 3 2 1 . 4

3 2 2 . 6 3 2 3 . 1 3 2 3 . 5 3 2 4 . 0 3 2 5 . 2 3 2 6 . 6 3 2 7 . 4 3 2 5 . 9 3 2 4 . 9 3 2 5 . 5 3 2 5 . 8 3 2 6 . 7

SMALL TIME DEPOSITS I

AT COMMER-

CIAL BANKS

8*0.2 8 2 . 0 8 3 . 8 8 6 . 0 8 7 . 3 8 8 . 1 8 9 . 1 9 0 . 1 9 1 . 3 9 2 . 1 9 3 . 8 9 4 . 7

9 5 . 5 9 6 . 5 9 7 . 7 9 7 . 8 9 8 . 4 9 9 . 6

1 0 1 . 9 1 0 3 . 3 1 0 4 . 8 1 0 6 . 1 1 0 7 . 0 1 0 8 . 2

1 1 0 . 3 1 1 0 . 8 1 1 0 . 6 1 1 2 . 0 1 1 3 . 3 1 1 4 . 4 1 1 4 . 4 1 1 6 . 0 1 1 4 . 3 1 1 3 . 5 1 1 5 . 2 1 1 6 . 8

AT THRIFT

INSTITU-TIONS

7 3 . 6 7 5 . 5 7 7 . 8 8 0 . 0 8 1 . 7 8 3 . 2 8 4 . 9 8 6 . 7 8 8 . 6 9 0 . 7 9 2 . 8 9 5 . 0

9 7 . 4 9 9 . 8

1 0 1 . 9 1 0 4 . 0 1 0 6 . 3 1 0 8 . 5 1 1 1 . 0 1 1 3 . 6 1 1 6 . 1 1 1 8 . 9 1 2 1 . 4 1 2 3 . 4

1 2 5 . 9 1 2 8 . 2 1 2 9 . 4 1 3 1 . 2 1 3 3 . 5 1 3 5 . 6 1 3 7 . 2 1 3 9 . 4 1 4 2 . 1 1 4 4 . 3 1 4 6 . 8 1 4 9 . 0

TOTAL |

1 5 3 . 9 1 5 7 . 5 1 6 1 . 6 1 6 5 . 9 1 6 9 . 0 1 7 1 . 3 1 7 4 . 0 1 7 6 . 8 1 8 0 . 0 1 8 2 . 8 1 8 6 . 6 1 8 9 . 7

1 9 3 . 0 1 9 6 . 3 1 9 9 . 7 2 0 1 . 8 2 0 4 . 8 2 0 8 . 1 2 1 2 . 9 2 1 6 . 9 2 2 0 . 9 2 2 5 . 0 2 2 8 . 4 2 3 1 . 6

2 3 6 . 2 2 3 9 . 0 2 4 0 . 0 2 4 3 . 1 2 4 6 . 8 2 5 0 . 0 2 5 1 . 6 2 5 5 . 4 2 5 6 . 4 2 5 7 . 8 2 6 2 . 0

1 2 6 5 . 8





1976 JAN.. FEB. . MAR. . APR. . MAY. . JUN. . J U L . . . AUG. . SEP. . . OCT. . . NOV. . DEC. . .

I CURRENCY

.1 6 2 . 1

.1 6 2 . 7 I 6 3 . 2 I 6 3 . 7

.1 6 4 . 2 I 6 4 . 6

.1 6 4 . 9

.1 6 5 . 6

.1 6 6 . 1

.1 6 6 . 7

.1 6 7 . 4

.1 6 7 . 9

.1 6 8 . 3 1 6 8 . 7 I 6 9 . 4 I 6 9 . 4 1 7 0 . 2 1 7 1 . 1 I 7 1 . 5 1 7 2 . 1 I 7 2 . 2 1 7 2 . 8 I 7 3 . 4 1 7 3 . 8

1 7 4 . 4 I 7 5 . 0 1 7 5 . 6 1 7 6 . 4 I 7 7 . 1 1 7 7 . 5 I 7 8 . 1 1 7 8 . 6 1 7 9 . 1 1 7 9 . 8 I 8 0 . 1 I 8 0 . 6

NONBANK TRAVELERS

CHECKS

175 1.6 1.6 1.6 1.7 1.6 1.7 1.7 1 .8 1 .8 1 .8 1 .8

1 .9 1 .9 1 .9 2 . 0 2 . 0 2 . 1 2 . 1 2 . 1 2 . 2 2 . 2 2 . 2 2 . 3

2 . 3 2 . 3 2 . 4 2 . 4 2 . 5 2 . 6 2 . 6 2 . 6 2 .7 2 . 7 2 . 7 2 . 8

1 DEMAND [DEPOSITS

2 0 3 . 1 2 0 3 . 7 20* 6 2 0 4 . 4 2 0 4 . 4 2 0 5 . 1 2 0 5 . 5 2 0 5 . 4 2 0 5 . 9 2 0 6 . 4 2 0 7 . 2 2 0 7 . 4

2 0 6 . 6 2 0 6 . 9 2 0 8 . 3 2 0 7 . 7 2 0 9 . 6 2 1 2 . 5 2 1 2 . 5 2 1 3 . 3 2 1 4 . 0 2 1 2 . 9 2 1 4 . 9 2 1 4 . 1

2 1 4 . 7 2 1 6 . 2 2 1 6 . 6 2 1 7 . 6 2 1 8 . 6 2 1 8 . 0 1 2 1 8 . 3 i 2 1 9 . 6 ! 2 1 9 . 5 i 2 2 2 . 1 1 2 2 2 . 2 1 2 2 4 . 3 1

1 OTHER (CHECKABLE DEPOSITS

0T3 0 . 3 0 . 4 0 . 4 0 . 4 0 . 4 0 . 4 0 . 4 0 . 4 0 . 4 0 . 4 0 . 4

0 . 5 0 . 5 0 .6 0 .6 0 .6 0 .7 0 .7 0 . 7 0 .7 0 . 8 0 . 8 0 . 9

1 .0 1 .1 1 . 2 1 . 4 1 . 5 1 .7 1 .8 2 . 0 2 . 2 2 . 3 2 . 5 2 . 7

1 NONTRANSACTION 1 COMPONENTS 1 f IN M2

5 9 8 . 6 6 0 2 . 0 6 0 6 . 8 6 0 9 . 1 6 1 0 . 9 6 1 3 . 1 6 1 5 . 8 6 1 8 . 0 6 2 1 . 0 6 2 4 . 8 6 2 8 . 6 6 3 0 . 9

6 3 5 . 1 6 4 2 . 0 6 5 1 . 2 6 6 1 . 7 6 7 2 . 0 6 8 3 . 1 6 9 4 . 5 7 0 1 . 5 7 0 9 . 3 7 1 5 . 9 7 2 3 . 4 7 3 2 . 0

7 4 1 . 6 7 5 3 . 2 7 6 1 . 0 7 7 0 . 5 7 8 2 . 2 7 8 6 . 6 7 9 4 . 7 8 0 6 . 0 8 1 7 . 1 8 2 9 . 0 8 4 1 . 0 8 5 3 . 3 |

I IN M3 ONLY

1 2 7 . 5 1 3 2 . 3 1 3 4 . 3 1 4 1 . 8 1 4 8 . 1 1 5 3 . 1 1 5 6 . 0 1 5 7 . 5 1 5 8 . 2 1 5 8 . 9 1 5 8 . 9 1 6 1 . 9

1 6 3 . 3 1 6 2 . 7 1 5 9 . 1 1 5 4 . 6 1 5 2 . 1 1 4 9 . 5 1 4 7 . 0 1 4 5 . 3 1 4 7 . 5 1 4 9 . 2 1 5 0 . 3 1 4 9 . 0

1 4 8 . 2 1 4 6 . 3 1 4 7 . 4 1 4 8 . 2 1 4 7 . 0 1 4 9 . 8 1 5 0 . 9 1 4 9 . 9 1 4 7 . 8 1 4 6 . 4 1 4 6 . 4 1 4 8 . 1

1 SAVINGS DEPOSITS

1 AT 1 COMMER-

CIAL BANKS 1 2 8 . 6 1 2 8 . 7 1 2 9 . 2 1 3 0 . 0 1 3 0 . 5 1 3 1 . 3 1 3 2 . 5 1 3 3 . 2 1 3 3 . 7 1 3 4 . 7 1 3 5 . 7 1 3 6 . 7

1 3 7 . 7 1 3 8 . 8 1 4 1 . 0 1 4 3 . 6 1 4 6 . 1 1 4 9 . 7 1 5 2 . 0 1 5 3 . 6 1 5 5 . 2 1 5 6 . 5 1 5 * . 6 1 6 i . l

1 6 4 . 8 "70.7 ^ 7 4 . 4 1 7 7 . 8 1 8 0 . 8 ! 1 8 1 . 0 1 8 2 . 7 1 8 5 . 7 1 8 8 . 9 1 9 2 . 8 1 9 7 . 3 2 0 1 . 6

1 AT 1 THRIFT

INSTITU-TIONS 1 9 9 . 0 1 9 9 . 0 1 9 9 . 5 1 9 9 . 7 1 9 9 . 3 1 9 9 . 1 1 9 9 . 2 1 9 8 . 8 1 9 8 . 8 1 9 9 . 6 2 0 0 . 5 2 0 1 . 8

2 0 3 . 3 2 0 5 . 1 2 0 7 . 4 2 1 0 . 0 2 1 2 . 9 2 1 5 . 9 2 1 8 . 6 2 2 0 . 6 2 2 2 . 4 2 2 4 . 1 2 2 6 . 0 2 2 7 . 7

2 2 9 . 6 2 3 2 . 0 2 3 4 . 2 2 3 6 . 0 2 3 7 . 7 2 3 8 . 9 2 4 0 . 5 2 4 2 . 7 2 4 4 . 6 2 4 7 . 0 2 4 9 . 5 2 5 1 . 6

I TOTAL

3 2 7 . 6 ! 3 2 7 . 8

3 2 8 . 8 3 2 9 . 6 3 2 9 . 8 3 3 0 . 4 3 3 1 . 7 3 3 2 . 0 3 3 2 . 5 3 3 4 . 2 3 3 6 . 2 3 3 8 . 5

3 4 1 . 0 3 4 3 . 9 3 4 8 . 4 3 5 3 . 5 3 5 9 . 0 3 6 5 . 6 37 0 .6 3 7 4 . 2 3 7 7 . 6 3 8 0 . 6 3 8 4 . 6 3 8 8 . 8

3 9 4 . 4 4 0 2 . 8 4 0 8 . 6 4 1 3 . 9 4 1 8 . 5 | 4 1 9 . 9 | 4 2 3 . 3 ! 4 2 8 . 5 4 3 3 . 6 4 3 9 . 8 ! 4 4 6 . 9 ! 4 5 3 . 2

I SMALL TIME D E P O S I T S | I 1 AT I COMMER-1 CIAL l BANKS

1 1 7 . 5 1 1 8 . 5 1 2 0 . 2 1 2 0 . 3 1 2 0 . 5 1 2 3 . 7 1 2 0 . 6 1 2 1 . 4 1 2 2 . 2 1 2 3 . 2 1 2 4 . 1 1 2 3 . 1

1 2 3 . 7 1 2 5 . 5 1 2 7 . 7 1 3 0 . 0 1 3 1 . 7 1 3 3 . 5 1 3 6 . 1 1 3 7 . 4 1 3 3 . 1 1 3 9 . 0 1 4 0 . 4 1 4 2 . 4

1 4 2 . 9 1 4 2 . 9 1 4 1 . 3 1 4 1 . 3 1 4 3 . 4 | 1 4 4 . 0 | 1 4 5 . 6 | 1 4 8 . 1 | 1 5 0 . 9 I 1 5 3 . 0 I 1 5 4 . 4 I 1 5 5 . 5 I

1 AT I THRIFT IINSTITU-! TIONS ! 1 5 0 . 8 i 1 5 2 . 7

1 5 4 . 3 1 5 5 . 6 1 5 6 . 6 1 5 8 . 0 1 5 9 . 4 1 6 0 . 3 1 6 1 . 3 1 6 2 . 3 1 6 3 . 4 1 6 4 . 8

1 6 5 . 9 1 6 7 . 7 1 7 0 . 1 1 7 2 . 7 1 7 5 . 6 1 7 8 . 8 1 8 2 . 1 1 8 5 . 0 1 8 7 . 5 1 9 0 . 2 1 9 2 . 8 1 9 5 . 5

1 9 8 . 7 2 0 1 . 9 ! 2 0 5 . 2 1 2 0 8 . 8 i 2 1 2 . 4 | 2 1 5 . 4 | 2 1 8 . 2 I 2 2 1 . 3 1 2 2 4 . 8 | 2 2 8 . 3 I 2 3 1 . 6 I 2 3 5 . 3 I

1 TOTAL |

2 6 8 . 2 2 7 1 . 2 2 7 4 . 4 2 7 5 . 9 2 7 7 . 1 2 7 8 . 7 2 8 0 . 0 2 8 1 . 7 2 8 3 . 6 2 8 5 . 5 2 8 7 . 5 2 8 7 . 9

2 8 9 . 6 2 9 3 . 2 2 9 7 . 7 3 0 2 . 8 3 0 7 . 3 3 1 2 . 3 3 1 8 . 2 3 2 2 . 5 3 2 5 . 7 3 2 9 . 2 3 3 3 . 2 3 3 7 . 9

3 4 1 . 6 3 4 4 . 9 3 4 6 . 5 3 5 0 . 1 3 5 5 . 8 3 5 9 . 5 3 6 3 . 8 3 6 9 . 4 3 7 5 . 7 3 8 1 . 2 3 8 5 . 9 3 9 0 . 8



1977 J A N . . FEB. . MAR. . APR. . MAY. . JUN. . JUL. . AUG. . SEP. . OCT. . NOV. . DEC. .

1978 J A N . . FEB. . MAR. . APR . MAY. . JUN. . JUL. . AUG. . SEP. . OCT. . NOV. . DEC. .

1979 J A N . . FEB. . MAR. . APR. . MAY. . JUN. . JUL. . AUG. . SEP. . OCT. . NOV. . DEC. .

I CURRENCY

I 8 1 . 3 I 8 1 . 9 I 8 2 . 3 I 8 3 . 2 I 8 3 . 6 I 8 4 . 2 I 8 5 . 1 I 8 5 . 5

. I 8 6 . 3 I 8 7 . 1 I 8 7 . 7 I 8 8 . 6

I 8 9 . 1 .1 9 0 . 0

I 9 0 . 7 I 9 1 . 3 I 9 2 . 0 I 9 2 . 8 I 9 3 . 3 I 9 4 . 0 I 9 5 . 0 I 9 5 . 8 I 9 6 . 6 I 9 7 . 6

I 9 8 . 2 I 9 8 . 9 I 9 9 . 6 I 1 0 0 . 4 I 1 0 0 . 9 I 1 0 1 . 9 I 1 0 2 . 7 I 1 0 3 . 7 I 1 0 4 . 7 I 1 0 5 . 4 I 1 0 5 . 9 I 1 0 6 . 4

NONBANK TRAVELERS

CHECKS

278 2 . 8 2 . 9 2 . 9 2 . 9 3 . 0 3 . 0 3 . 0 3 . 0 3 . 1 3 . 1 3 . 1

3 . 1 3 . 1 3 . 2 3 . 2 3 . 2 3 . 3 3 . 4 3 . 4 3 . 4 3 . 4 3 . 5 3 . 5

3 . 5 3 . 5 3 . 6 3 . 6 3 . 6 3 . 6 3 . 6 3 . 6 3 . 7 3 . 7 3 . 7 3 . 8

DEMAND DEPOSITS

2 2 6 . 3 2 2 7 . 8 2 2 9 . 2 2 3 0 . 8 2 3 0 . 8 2 3 1 . 7 2 3 3 . 0 2 3 4 . 0 2 3 5 . 3 2 3 7 . 3 2 3 8 . 3 2 3 9 . 4

2 4 2 . 2 2 4 1 . 8 2 4 2 . 5 2 4 5 . 1 2 4 7 . 5 2 4 9 . 0 2 5 0 . 3 2 5 1 . 2 2 5 4 . 0 2 5 4 . 1 2 5 3 . 7 2 5 3 . 4

2 5 1 . 3 2 5 0 . 9 2 5 1 . 9 2 5 5 . 2 2 5 4 . 0 2 5 7 . 3 2 5 9 . 6 2 6 0 . 4 2 6 1 . 3 263 . 1 2 6 1 . 0 2 6 1 . 3


278 2 . 9 3 . 1 3 . 1 3 . 2 3 . 3 3 . 5 3 .6 3 . 8 3 . 9 4 . 0 4 . 2

4 . 3 4 . 4 4 . 5 4 . 7 4 . 8 4 . 9 5 . 0 5 . 1 5 . 2 5 . 3 6 . 7 8 . 5

1 0 . 2 1 1 . 1 1 2 . 3 1 3 . 0 1 3 . 8 1 4 . 6 1 5 . 3 1 6 . 1 1 6 . 5 1 6 . 7 1 7 . 0 1 7 . 5

NONTRANSACTION COMPONENTS

I N M2

8 6 3 . 9 8 7 2 . 8 8 8 1 . 9 8 9 1 . 1 9 0 1 . 2 9 0 8 . 1 9 1 6 . 5 9 2 3 . 7 9 3 1 . 4 9 3 8 . 1 9 4 4 . 8 9 5 1 . 3

9 5 7 . 4 9 6 2 . 0 9 6 7 . 7 97?


1980 JAN. . FEB. . MAR. . APR. . MAY. . JUN. . JUL. . AUG. . SEP. . OCT. . NOV. . DEC. .

1981 JAN. . FEB. . MAR. . APR. . MAY. . JUN. . JUL. . AUG. . SEP. . OCT. . NOV. . DEC. .

1982 JAN. . FEB. . MAR. . APR. . MAY. . JUN. . JUL. . AUG. . SEP. . OCT. . NOV . . DEC. .

I CURRENCY

I 107.4 .1 108 .3 .1 1 0 9 . 1 .1 109.4

1 110.3 1 111.2 1 112 .1 1 113.4 1 114.0 1 115.2 1 116.2 1 116.7

1 116.9 I 117.7 I 118.4 1 119.3 I 119.9 1 120 .1 I 121.0 I 121.4 1 121.6 I 122 .1 1 122.9 I 124.0

1 125.0 1 125.5 1 125.9 1 127 .1 1 128.3 1 128.9 1 129.8 1 130.6 1 131.5 1 132.7 1 133.2 1 134 .3

NONBANK TRAVELERS

CHECKS

378 3.8 3.8 3.8 3.8 3.8 3.9 4 .0 4 .0 4 .0 4 . 1 4 . 2

4 .2 4 .2 4 .2 4 .2 4 .2 4 . 2 4 .2 4 .3 4 .3 4 .3 4 .3 4 .4

4 .4 4 .4 4 .4 4 .4 4 .4 4 . 4 4 .4 4 .4 4 .4 4 .4 4 .4 4 .3

DEMAND DEPOSITS

262.4 264.9 263.4 256.7 255.5 258.6 260.7 265.7 269.3 271.5 271.0 265.7

252.5 245.0 242.9 243.0 239.8 237.7 237.0 237.3 235.6 235.4 235.2 235.2

238 .1 234.7 233.2 233.0 232.2 231.2 230.5 231.7 233.4 236.0 237.9 1 238.6


T778 17.9 18 .2 18 .2 18.8 20 .2 21 .5 23 .2 24 .8 26 .0 27.6 28 .2

43 .5 52.7 58 .4 64 .5 64 .8 66 .5 6 8 . 3 70 .5 72 .4 73 .0 75.7 7 8 . 2

81 .9 82 .5 83 .8 86 .4 8 6 . 1 87 .0 87 .8 91 .0 94 .3 9 8 . 1

102.2 103.5

NONTRANSACTION 1 COMPONENTS

IN M2

1116.4 1125.9 1132.3 1134.0 1143.4 1158.3 1174.5 1182.9 1191.9 1200.0 1211.2 1216.6

1223.5 1233.0 1246.2 1259.0 1267.8 1277.2 1287.1 1300.8 1311.9 1325.1 1339.0 1352.6

1364.4 1369.8 1379.6 1386.9 1399.3 1409.9 1421.9 1435.9 1446.9 1453.6 1461.8 1474.0

IN M3 ONLY

310.8 317.5 319.5 324.3 327 .3 326.8 327 .2 329.0 328.6 335 .2 343.5 357 .1

373 .1 379.4 378 .3 38?. 8 393.6 401 .5 412 .2 417.9 4 2 8 . 1 435 .4 438.3 441 .4

447.0 452.3 458 .3 468.4 471.9 478 .4 482.6 490.7 494.6 501.9 499.7 492.0

SAVINGS-DEPOSITS

AT COMMER-

CIAL BANKS 192.4 189.9 184.6 177.7 176.8 181.0 186.6 191.2 192.9 193.5 192.4 185.2

177.2 174 .1 172 .1 171.6 169.2 166.8 166 .1 163.6 161.0 159.0 158.4 158.6

159.5 159.7 159.3 159 .1 158.9 158.8 158.3 159.3 160.7 163.4 166.3 ! 163.5

AT THRIFT

INSTITU-TIONS 225.8 222.6 216.8 208.5 2 0 5 . 1 209 .1 215 .4 223 .3 226 .2 225 .5 223.0 215.6

2 0 7 . 1 204.0 202 .2 202.0 198.8 195.0 194.4 191.5 188.2 185 .1 185.0 185.8

189.0 188.5 186.9 185.9 185.7 185.2 184.4 186 .1 187.4 1 9 3 . 1 197.6 194.4

TOTAL

418 .2 412.6 401 .4 386 .1 381.9 390 .1 402 .0 414 .5 4 1 9 . 1 419 .0 415 .3 400.8

384 .3 378 .1 374 .3 373.6 368.0 361.8 360 .4 355 .1 349 .3 3 4 4 . 1 343.4 344 .4

348.5 348.2 346 .2 344.9 344.6 344.0 342.7 345.4 348 .1 356 .5 363.9 357.8

I SMALL TIME DEPOSITS | 1 I AT i COMMER-i CIAL | BANKS

239.6 2 4 5 . 1

i 254 .3 266.6 27 0 .5 269 .5 268 .3 267.0 267.8 270.6 277.3 286 .3

296.0 301.0 305.5 308.8 313.7 319.0 321.6 328 .1 333.5 340.9 345.5 347.8

349.7 354.8 361.9 369.9 376.2 330.4 385.9 387.9 389 .1 386.8 | 385.9 I 37 9 .8

1 AT I THRIFT I INSTITU-1 TIONS 1 400.8 ! 404.5 i 410.6

419.4 425.9 426.4 423.6 421.4 422.8 425.4 432.8 442.7

450.7 455.2 458.7 459.2 463.7 468.3 466 .1 468.7 471.4 475.4 476 .1 475.8

472.4 475.6 479.9 483.2 486.9 ! 488.8 I 490.7 I 489.6 1 489.0 I 483.7 | 431.3 I 471.7 I

I TOTAL I

640 .4 649.6

! 664 .8 686.0 696 .3 696.0 691.9 688 .4 690.6 696 .0 710.0 729.0

746.7 756 .2 764 .2 768 .0 777 .4 787 .3 787.7 796.8 804.9 816 .4 821.6 823.6

8 2 2 . 1 830 .4 841.8 8 5 3 . 1 8 6 3 . 1 869 .2 876.6 877.5 8 7 8 . 1 870.6 867 .3 851.5



1983 JAN.. FEB. . MAR. . APR. . MAY. . JUN. . JUL. . AUG. . SEP. . OCT. . NOV. . DEC. . 1984 JAN.. FEB. . MAR. . APR. . MAY. .

JUN.., JUL. . AUG. . SEP. . OCT. . NOV. . DEC. .

I CURRENCY

I 135.4 1 136.8 I 138.1 I 139.3 I 140.4 I 141.4 I 142.4 1 143.2 I 144.6 I 146.1 1 147.3 I 148.4 I 149.4 I 150.2 I 151.2 1 152.1 1 152.8 1 154.3 1 155.0 1 155.9 1 156.8 I 157.1 1 157.9 1 158.7

NONBANK TRAVELERS CHECKS 4TTI 4.3 4.5 4.6 4.7 4.6 4.6 4.6 4.7 4.8 4.9 4.9 4.9 5.0 5.0 5.1 5.1 5.1 5.2 5.2 5.1 5.0 5.1 5.2

i

DEMAND DEPOSITS

23? 6 238.2 239.3 239.2 241.5 242.8 244.2 244.4 243.8 244.2 243.6 243.5 244.3 245.2 245.5 245.9 246.3 248.9 247.3 246.8 247.5 244.5 246.8 248.6

OTHER CHECKABLE DEPOSITS 106.2 110.9 113.9 116.1 119.2 121.0 123.5 126.2 127.3 128.9 130.5 131.3 132.7 133.8 135.6 136.1 138.3 139.0 139.4 141.0 142.2 141.8 143.9 145.9


1524.9 1555.9 1566.9 1578.1 1587.7 1597.8 1605.8 1613.2 1624.5 1640.3 1651.9 1660.8 1670.8 1682.7 1691.8 1701.8 1712.8 1722.0 1733.3 1743.9 1756.7 1770.4 1792.1 1813.2

IN M3 ONLY 470.2 461.1 460.8 463.7 465.2 473.0 475.8 483.5 492.3 491.5 505.2 512.9 517.2 524.8 536.4 546.9 560.0 569.6 581.9 586.2 593.1 606.6 614.2 623.8

SAVINGS DEPOSITS AT COMMERCIAL BANKS 150.7 144.7 142.2 140.9 140.6 140.2 139.3 138.6 137.6 136.6 135.0 133.4 ]31.9 131.2 130.1 129.3 128.8 128.7 128.1 127.0 12< .1 124.9 123.8 122.6

AT THRIFT INSTITUTIONS 183.0 178.7 177.5 177.7 177.9 177.9 178.0 178.4 177.3 176.8 175.4 173.6 173.1 172.6 172.8 172.6 172.7 172.1 171.0 169.4 168.4 167.6 166.8 165.9

TOTAL

333.7 323.4 319.7 318.5 318.6 318.1 317.3 317.0 314.9 313.4 310.4 307.0 305.1 303.8 302.9 301.9 301.5 300.8 299.1 296.4 294.5 292.5 290.6 288.5

SMALL AT COMMERCIAL BANKS 355.5 337.9 328.4 326.1 324.4 324.9 328.3 331.9 335.5 341.4 346.7 350.7 352.7 354.2 356.5 361.2 366.2 371.0 374.7 378.8 381.7 383.1 384.5 387.0

. TIME DEPOSITS T AT THRIFT INSTITUTIONS 436.4

414.1 405.6 406.3 405.1 405.1 407.6 411.2 415.0 421.2 428.3 433.8 437.5 442.0 445.7 450.0 456.4 463.0 468.9 476.2 482.6 489.0 493.4 498.1

TOTAL |

791.9 752.0 734.1 732.4 729.5 730.0 736.0 743.1 750.5 762.6 775.1 784.6 790.3 796.2 802.3 811.2 822.6 834.0 843.7 855.0 864.4 872.1 877.9 885.1


TABLE 3 COMPONENTS OF MONEY STOCK MEASURES AND LIQUID ASSETS

BILLIONS OF DOLLARS, SEASONALLY ADJUSTED

1959 JAN... FEB... MAR... APR... MAY... JUN... JUL.. . AUG... SEP... OCT... NOV... DEC...

1960 JAN... FEB... MAR... APR... MAY... JUN.. . JUL. . . AUG. . . SEP... OCT... NOV. . . DEC...

1961 JAN... FEB... MAR... APR... MAY... JUN.. . JUL.. . AUG... SEP... OCT... NOV... DEC...

1 LARGE TIME DEFOSI 1 AT I COMMERCIAL I BANKS I 1.6 1 1.5 1 1.5 1 1.5 1 1.5 1 1.5 1 1.5 1 1.4 1 1.4 1 1.3 1 1.3 1 1.2 1 1.2 1 1.2 1 1.3 1 1.3 1 1.3 1 1.4 1 1.5 1 1.6 1 1.7 1 1.8 1 1.9 1 2.0 1 2.2 1 2.4 1 2.5 1 2.7 1 2.9 1 3.1 1 3.4 1 3.6 1 3.7 1 3.9 1 4.0 1 3.9

AT THRIFT

INSTITUTIONS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

:TS TOTAL 176 1.5 1.5 1.5 1.5 1.5 1.5 1.4 1.4 1.3 1.3 1.2 1.2 1.2 1.3 1.3 1.3 1.4 1.5 1.6 1.7 1.8 1.9 2.0 2.2 2.4 2.5 2.7 2.9 3.1 3.4 3.6 3.7 3.9 4.0 3.9

SAVINGS BONDS 4777 47.6 47.5 47.4 47.3 47.1 46 .9 46.8 46.6 46.4 46.3 46.1 45.9 45.8 45.7 45.7 45.7 45.6 45.6 45.6 45.6 45.6 45.6 45.7 45.7 45.8 45.9 45.9 46.0 46.0 46.1 46.2 46.2 46.3 46.4 46.5

SHORT-TERM TREASURY

SECURITIES 3^70 33.3 33.5 34.1 34.9 35.9 37.2 38.3 38.9 39.2 39.3 3^.6

39.2 39.6 39.6 39.3 38.9 39.1 38.9 37.7 38.1 i 37.9 37.2 ! 36.7 i 36.9 I 36.5 I 36.1 I 36.2 36.1 I 35.9 | 36.2 | 35.9 | 35.7 | 36.1 I 36.6 i 37.0 |

BANKERS ACCEPTANCES

576 0.6 0.6 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.6 0.6 0.7 0.7 0.7 0.6 0.6 0.8 0.8 0.8 0.8 0.8 0.9 0.9 0.9 0.9 1.0 1.0 1.0 ! 1.0 1.0 1.1 1.1 1.1 1.1 1

1 COMMERCIAL | 1 PAPER 1 i 3.1 I 1 3.2 I

3.3 | 3.3 I 3.4 | 3.5 I

! 3.5 I 3.6 I 3.6 I 3.7 I 3.7 I 3.6 | 3.9 I 4.1 I 4.3 | 4.4 I 4.5 | 4.7 I 4.8 | 4.9 | 4.9 | 5.0 I 5.1 I 5.1 I 5.1 I 5.0 | 5.0 | 5.0 | 5.0 | 4.9 | 5.0 | 4.9 I 4.9 | 5.0 | 5.0 | 5.2 |




1962 JAN... FEB... MAR... APR... MAY... JUN... JUL... AUG. . . SEP... OCT. . . NOV.. . DEC...

1963 JAN... FEB... MAR.. . APR... MAY... JUN... JUL... AUG... SEP... OCT... NOV.. . DEC...

1964 JAN... FEB.. . MAR... APR... MAY... JUN... JUL... AUG... SEP... OCT. . . NOV... DEC...

LARGE TIME DEPOS] AT

COMMERCIAL BANKS

4.1 4.4 4.8 5.1 5.2 5.6 5.6 5.7 6.0 6.3 6.6 7.0 7.3 7.5 7.9 8.1 8.3 8.5 8.6 9.1 9.5 9.9

10.5 10.8 11.3 11.7 11.8 12.0

! 12.5 12.9 13.2

! 13.5 13.9 14.5 14.9 15.2

AT I THRIFT

INSTITUTIONS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

;is TOTAL 471 4.4 4.8 5.1 5.2 5.6 5.6 5.7 6.0 6.4 6.6 7.0 7.3 7.5 7.9 8.1 8.3 8.5 8.6 9.1 9.5 9.9 10.5

10.8 11.3 11.7 11.8

1 12.0 i 12.5 i 12.9 1 13.2 1 13.5 ! 13.9 ! 14.5 1 14.9 1 15.2

SAVINGS BONDS 4675 46.5 46.6 46.6 46.6 46.6 46.7 46.8 46.8 46.8 46.8 46.9 47.0 47.1 47.2 47.3 47.4 47.5 47.6 47.7 47.8 47.9 48.0 48.1 48.2 48.3 48.3 48.4 48.5 48.6 48.6 48.7 48.8 48.9

! 48.9 49.0

SHORT-TERM | TREASURY 1

SECURITIES ! 3775 37.2 | 37.7 ! 38.1 38.2 38.7 38.6 39.1 39.0 37.7 39.2 39.8 39.6 40.2 40.1 39.4 39.5 39.3 39.0 40.0 41.1 40.3 40.7 40.7 40.4 40.0 40.0 40.3 40.5 40.8

! 39.7 1 38.6

39.4 39.4

1 39.0 1 38.5

BANKERS I ACCEPTANCES 1

TTl i 1.1 1 1.1 1 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.1 1.1 1.1 1.0 1.0 1.1 1.1 1.1 1.1 1.1 1.2 1.2 1.2 1.2 1.2 1.2 1.3 1.2 1.2 1.3 1.2 1.2 1.3 1.3

1 1.3

COMMERCIAL | PAPER | 5.4 | 5.5 | 5.6 | 5.6 | 5.7 | 5.9 | 6.0 | 6.2 | 6.6 | 6.7 | 6.8 | 6.8 | 6.8 | 6.9 | 7.0 | 7.2 | 7.4 | 7.4 | 7.4 | 7.5 | 7.5 | 7.5 | 7.7 | 7.7 | 7.7 | 8.0 | 8.0 | 7.8 | 8.1 | 8.3 | 8.5 | 8.7 | 8.7 | 8.9 | 9.0 | 9.1 |




1965 JAN... FEB... MAR... APR... MAY... JUN... JUL... AUG. SEP... OCT... NOV... DEC . .


1967 JAN... FEB... MAR... APR... MAY... JUN. . . JUL... AUG... SEP... OCT... NOV... DEC...

1 LARGE TIME DEPOSITS 1 1 AT I COMMERCIAL I BANKS I 15.9 I 16.4 I 16.6 1 17.0 I 17.3 1 17.9 I 18.5 I 19.1 I 19.8 I 20.6 I 20.8 I 21.2 I 21.4 I 21.4 I 21.8 I 23.0 I 23.6 1 24.1 I 25.1 I 25.1 I 24.9 I 23.7 I 22.6 I 23.1 1 25.3 I 27.1 I 28.1 I 28.3 I 28.3 I 28.9 I 29.3 I 29.6 I 30.1 I 30.0 I 30.6 I 30.9

1 AT THRIFT INSTITUTIONS

0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

TOTAL 1379 16.4 16.6 17.0 17.3 17.9 18.5 19.1 19.8 20.6 20.8 21.2 21.4 21.4 21.8 23.0 23.6 24.1 25.1 25.1 24.9 23.7 22.6 23.1 25.3 27.1 I 28.1 28.3 i 28.3 | 28.9 1 29.3 I 29.6 30.1 30.0 30.6 30.9

SAVINGS BONDS 4971 49.2 49.2 49.3 49.3 49.4 49.5 49.5 49.5 49.6 49.6 ',9.6 49.7 49.7 49.7 49.8 49.8 49.9 50.0 50.0 50.1 50.1 50.1 50.2 50.2 I 50.3 I 50.4 i 50.5 i 50.6 | 50.6 I 50.7 1 50.8 1 50.9 ! 51.0 ! 51.1 ! 51.2

SHORT-TERM TREASURY

SECURITIES 3870 38.1 38.6 39.0 39.6 40.3 40.7 40.7 40.4 40.2 40.7 40.7 41.3 41.6 41.4 41.5 42.0 42.1 41.1 40.1 40.4 42.3 43.8 43.2 41.6 40.4 39.8 38.7 37.2 36.2 35.7 36.4 37.0 37.6 38.3 38.7

1 BANKERS 1 ACCEPTANCES

HI 1.3 1.5 1.5 1.5 1.4 1.4 1.5 1.5 1.5 1.5 1.6 1.6 1.6 1.6 1.6 1.6 1.6 1.7 1.8 1.8 1.8 1.7 1.8 1.8 1.7 1.7 1.8 1.8 1.9 1.9 1.8 1.8 1.8 1.7 1.8

| COMMERCIAL | I PAPER I

972 I 1 9.1 I 9.2 | 9.4 | 9.7 | 9.8 I

10.0 | 10.2 I 10.2 I 10.3 | 10.4 | 10.2 | 10.3 | 10.5 | 10.8 | 11.2 | 11.4 | 11.4 | 11.8 | 12.5 | 12.7 | 12.8 | 13.6 | 14.4 | 15.1 | 15.5 | 16.0 | 16.5 | 16.8 | 17 .1 | 17.0 | 17.0 | 17.1 | 17.2 | 17.2 | 17.8 |




1968 JAN... FEB. . . MAR... APR... MAY... JUN... JUL... AUG... SEP... OCT... NOV... DEC. . .

1969 JAN... FEB. . . MAR... APR... MAY... JUN... JUL... AUG... SEP... OCT.. NOV... DEC. .

1970 JAN... FEB. . . MAR... APR... MAY.. . JUN... JUL... AUG... SEP... OCT. . . NOV... DEC...

LARGE TIME DEPOS] AT

COMMERCIAL BANKS 30.7 30.9 31.4 30.8 30.6 30.4 31.9 33.0 33.7 34.9 36.2 37.4 35.8 34.3 33.5 32.8 32.1 30.8 27.7 24.8 23.7 22.5 21.3 20.4 19.0 19.2 20.5 23.9 25.1 24.8 30.4 34.0 37.2 39.8 42.1 44.4

AT THRIFT INSTITUTIONS

0.0 0.0 0.0 0.0 0.0 a.o 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 ! 0.0 0.0 ! 0.0

I 0.0 0.0 0.0 ! 0.0

! 0.0 1 0.1 1 0.2 1 0.2 I 0.3 1 0.4 1 0.4 1 0.5 1 0.6 I 0.6 1 0.7 1 0.7

:js TOTAL 30T7 30.9 31.4 30.8 30.6 30.4 31.9 33.0 33.7 34.9 36..? 37.4 35.8 34.3 33.5 32.8 32.1 30.8 27.7 24.8 23.7 22.5 21.3 20.4 19.1 19.3 20.7 24.1

i 25.4 i 25.1 I 30.9

34.5 37.7

I 40.4 1 42.8 I 45.2

SAVINGS BONDS 5172 51.3 51.3 51.4 51.4 51.5 51.5 51.6 51.6 51.7 51.7 51.8 51.8 51.9 51.8 51.8 51.8 51.8 51.8 51.7 51.7 51.7 51.7 51.7 51.8 51.7 51.7 51.6 51.5 51.5

1 51.6 51.6 51.7 51.8

! 51.9 52.0

SHORT-TERM TREASURY

SECURITIES 40TO 41.0 41.8 43.4 44.8 45.8 46.5 46.9 47.1 47.5 46.7 46.1 48.0 50.1 52.0 53.4 53.2 53.7 53.6 54.9 56.5 56.9 58.1 59.5 60.6 61.4 60.7 59.1

1 57.8 1 57.5 1 57.5 1 56.5 ! 54.0 1 53.2 I 51.3 1 48.9

BANKERS ACCEPTANCES

TT9 2.0 2.0 2.0 2.1 2.0 2.0 2.0 2.0 2.1 2.3 2.3 2.4 2.4 2.5 2.5 2.6 2.7 2.9 2.9 3.1 3.2 3.3 3.3 3.3 3.3 3.3 3.3 3.5

1 3.5 1 3.5

3.3 3.1

! 3.2 ! 3.3 1 3.5

COMMERCIAL | PAPER | 18.5 | 18.5 | 18.7 | 18.5 | 18.3 | 19.3 | 20.0 | 20.6 | 21.3 | 21.5 | 21.9 | 22.5 | 22.7 | 23.2 | 23.9 | 24.6 | 25.2 | 26.5 | 28.0 | 29.4 | 30.6 | 31.9 | 33.2 | 34.0 | 35.0 | 36.1 | 37.4 | 38.5 | 39.5 |

1 39.9 | I 38.7 | i 37.8 | 1 36.9 | 1 35.7 | 1 34.9 | 1 34.5 |


TABLE 3 COMPONENTS OF MONEY STOCK MEASURES AND MQUID ASSETS



1972 JAN... FEB.. . MAR. . . APR... MAY... JUN... JUL... AUG... SEP... OCT... NOV... DEC...

1973 JAN... FEB... MAR... APR... MAY... JUN... JUL... AUG... SEP... OCT... NOV... HFC...

1 LARGE TIME DEPUsl 1 AT I COMMERCIAL 1 BANKS I 46.2 I 48.6 I 50.1 I 47.9 I 48.7 I 49.9 I 51.1 1 50.7 I 51.1 I 53.2 I 54.4 1 56.1 I 56.6 I 57.6 I 57.1 I 58.7 I 62.0 I 63.4 I 64.0 I 65.3 1 66.2 I 66.9 I 69.3 I 70.8 1 71.2 I 76.7 I 84.2 1 87.7 I 89.7 I 90.5 I 95.2 I 101.0 I 105.8 I 107.2 I 106.9 I 107.5

1 AT THRIFT

INSTITUTIONS 0.8 0.9 0.9 1.0 1.1 1.1 1.2 1.3 1.3 1.4 1.5 1.5 1.6 1.7 1.7 1.8 1.9 2.0 2.1 2.1 2.2 2.3 2.4 2.5 2.5 2.6 2.7 2.8 2.9 3.0 3.0 3.1 3.2 3.3 3.4 3.6

:TS TOTAL 4775 49.5 51.0 48.9 49.8 51.0 52.3 52.0 52.4 54.6 55.8 57.7 58.2 59.2 58. S 60.6 63.9 65.4 66.0 67.5 68.4 69.2 71.7 73.3 73.7 79.3 86.8 90.5 92.5 93.5 98.2

104.1 109.0 110.5 110.3 111.1

1" SAVINGS BONDS 5272 52.3 52.5 52.6 52.8 53.0 53.2 53.5 53.7 53.9 54.1 54.3 54.6 54.8 55.1 55.5 55.6 55.8 56.1 56.4 56.7 57.0 57.3 57.6 57.9 ! 58.2 1 58.4 ! 58.7 | 59.0 ! 59.3 1 59.5 i 59.7 | 59.8 S 60.0 60.2 i 60.4 |

SHOR,-TERM TREASURY

SECURITIES 487! 45.7 43.2 42.1 39.8 39.9 42.0 41.5 39.0 37.4 36.3 36.1 36.2 36.3 36.9 36.6 36.8 36.7 35.8 35.9 36.2 37.2 39.3 40.7 41.6 1 43.0 1 43.8 | 44.8 i 46.0 | 47.2 ! 47.8 | 48.7 1 49.2 i 48.9 48.9 49.4 |

I BANKERS I ACCEPTANCES

3.6 3.4 3.3 3.5 3.7 3.9 4.0 4.3 4.6 4.1 3.9 Z.S

3.8 4.0 4.0 4.0 3.8 3.5 3.2 3.2 3.2 3.3 3.5 3.5 3.4 i 3.4 I 3.5 I 3.6 I 3.5 ! 3.7 I 4.0 i 4.2 1 4.6 S 4.9 4.9 5.0 ]

I COMMERCIAL I I PAPER |

3471 T ! 33.6 | 33.0 |

1 32.6 | ! 32.4 |

31.8 | 31.4 | 31.7 | 32.1 I 32.5 | 32.5 I 32.7 I 33.1 | 32.9 | 33.3 | 33.7 | 33.6 | 34.3 | 35.0 | 34.9 | 34.6 | 34.8 | 35.0 | 35.2 | 35.5 | 34.9 | 34.3 | 34.3 | 35.0 | 36.0 | 36.1 | 36.8 | 38.0 | 39.5 | 41.4 | 41.9 |


TABLE 3 COMPONENTS OF MONEY STOCK MEASURES AND LIQUID ASSETS BILLIONS OF DOLLARS, SEASONALLY ADJUSTED

1974 JAN... FEB... MAR... APR... MAY... JUN... JUL... AUG... SEP... OCT... NOV... DEC... 1975 JAN... FEB... MAR... APR... MAY... JUN... JUL... AUG... SEP... OCT... NOV... DEC... 1976 JAN... FEB... MAR... APR... MAY... JUN... JUL... AUG... SEP... OCT... NOV... DEC...

1 LARGE TIME DEPOSITS i 1 AT I COMMERCIAL 1 BANKS I 110.6 I 114.6 I 115.5 I 122.8 I 128.3 I 132.6 I 135.7 I 136.5 I 137.0 I 137.5 I 136.7 I 139.4 I 140.7 I 139.8 I 136.3 I 131.6 I 129.1 I 126.8 I 124.5 I 122.4 I 122.9 I 124.1 I 125.0 I 123.4 I 120.4 I 118.0 I 118.6 I 118.4 I 115.2 I 118.3 I 119.2 I 115.5 I 113.4 I 111.4 I 110.2 I 110.3

1 AT THRIFT INSTITUTIONS 3.7 3.9 4.0 4.1 4.2 4.3 4.3 4.4 4.5 4.7 5.0 5.3 5.7 6.0 6.2 6.3 6.3 6.3 6.2 6.2 6.2 6.2 6.3 6.4 6.4 6.5 6.5 6.5 6.5 6.6 6.9 7.2 7,4 7.6 7.7 7.8

TOTAL 114.3 118.5 119.5 126.9 132.5 136.8 140.0 140.9 141.5 142.2 141 .7 144.8 146.4 145.8 142.5 137.9 135.4 133.1 130.8 128.6 129.1 130.3 131.2 129.7 126.9 124.5 125.1 124.9 121.7 124.9 126.1 122.7 120.8 119.0 117.9 118.1

SAVINGS BONDS 6TT75 60.7 61.0 61.3 61.5 61.7 62.0 62.2 62.4 62.7 63.0 63.3 63.6 63.9 64.2 64.5 64.9 65.2 65.6 65.9 66.3 66.6 66.9 67.2 67.6 67.9 68.3 68.7 69.1 69.5 69.8 70.3 70.8 71.1 71.4 71.8

SHORT-TERM TREASURY SECURITIES 5070 50.9 52.3 53.2 52.4 52.2 52.0 52.1 53.1 53.9 53.0 52.9 51.8 50.1 50.1 51.1 53.1 54.7 56.5 59.2 61.1 63.7 67.3 69.5 71.3 7] .7 71.3 7x.2 71.6 73.6 75.0 73.1 71.8 73.7 72.7 70.3

BANKERS ACCEPTANCES 572 5.4 5.7 6.1 6.8 7.8 9.3 10.6 10.7 10.8 11.5 12.6

13.1 12.8 12.7 12.9 12.6 11.9 11.0 10.6 10.5 10.8 10.9 10.7 10.8 11.3 11.3 11.4 11.6 11.6 11.6 11.6 11.3 11.0 10.8 10.8

COMMERCIAL | PAPER | 43.4 | 45.5 | 45.4 | 44.8 | 45.3 | 45.8 | 45.6 | 47.3 | 49.2 | 49.9 | 50.3 | 50.1 | 50.2 | 50.7 | 50.7 | 50.9 | 50.8 | 49.8 | 48.9 | 49.6 | 49.2 | 48.7 | 48.5 | 48.0 | 48.0 | 48.3 | 48.8 | 49.0 | 49.2 | 49.8 | 50.2 | 50.5 | 50.1 | 50.0 | 50.7 | 51.7 |



1977 JAN... FEB... MAR... APR... MAY... JUN. . . JUL.. . AUG... SEP... OCT... NOV.. . DEC...

1978 JAN... FEB . . MAR... APR... MAY... JUN... JUL... AUG... SEP... OCT... NOV... DEC...

1979 JAN... FEB... MAR... APR... MAY... JUN... JUL... AUG... SEP... OCT... NOV... DEC...!

i LARGE TIME DEPPS' 1 AT I COMMERCIAL 1 BANKS I 109.7 I 110.2 I 110.2 1 110.1 1 111.1 ! 114.5

117.8 120.4 123.0 127.1 131.1 134.8 138.1 141.3 145.8 150.9 156.2 159.9 164.1 167.1 168.5 170.0 176.3 178.5 180.5 182.0 181.5 179.7 179.1 177.5 178.8 180.7 186.3 191.2 190.9 189.9

1 AT 1 THRIFT i INSTITUTIONS 1 7.8 1 7.9 1 8.0 1 8.3 E 8.6 i 8.9 9.2 9.5 9.7 9.8 9.9 10.2 10.7 11.4 12.0 12.8 13.5 13.9 14.3 14.8 15.3 15.7 16.1 16.5 17.2 18.0 18.7 19.4 20.5 | 22.2 I 23.9 I 25.2 ! 26.4 I 28.1 | 30.4 | 32.1 |

[TS TOTAL

1 117.5 i 118.1 ! 118.2

118.4 119.6 123.4 127.0 129.9 132.7 137.0 141.1 145.0 148.8 152.6 157.9 163.7 169.6 173.9 178.4 181.9 183.9 185.7 192.4 195.1 197.8 200.0 I 200.2 | 199.2 | 199.6 | 199.7 | 202.7 | 20 5 9 | 212.7 | 219.3 | 221.3 | 222.0 |

SAVINGS BONDS 7^72 72.6 73.1 73.5 73.9 74.3 74.8 75.1 75.4 75.7 76.0 76.4 76.8 77.3 77.8 78.3 78.8 79.1 79.4 79.6 79.8 , 80.0 80.1 80.3 80.4 80.5 | 80.7 | 80.8 | 80.8 | 80.8 | 80.8 | 80.7 | 80.6 | 80.4 | 80.0 | 79.6 |

I SHORT-TERM I TREASURY I SECURITIES

7071 72.3 72.9 73.2 72.5 71.8 72.4 74.6 75.3 75.5 76.9 78.3 79.5 79.6 77.8 77.1 75.7 74.5 74.5 76.1 78.4 78.8 79.2 81.9 82.6 83.9 I 89.1 | 94.7 I

100.2 | 108.1 | 107.3 | 103.0 | 103.9 | 104.5 | 105.5 | 108.4 |

| BANKERS I ACCEPTANCES I 11.5 I 12.0 I 12.3 1 12.8

13.3 13.6 13.8 13.8 13.9 13.9 13.9 14.1 14.5 15.3 16.1 16.6 16.8 17.4 17.8 18.0 18.0 18.4 20.4 22.0 22.2 22.0 I 21.9 I 21.7 I 21.7 I 22.4 I 23.9 I 26.3 I 27.5 I 27.7 I 27.9 I 27.2 I

| COMMERCIAL I I PAPER I

5^72 1 1 52.7 I i 53.5 I i 54.7 | 1 55.7 I 1 57.6 I

58.5 I 59.0 | 60.0 I 61.5 I 62.3 I 62.9 I 64.3 I 65.1 1 65.9 I 67.5 I 69.1 I 70.4 I 71.7 I 72.3 I 73.2 I 74.9 | 76.9 I 79.2 I 80.7 I 82.7 | 85.0 I 86.4 I 88.3 I 90.7 I 92.5 1 94.0 I 95.4 I 96.1 I 96.5 | 97.0 I



1980 JAN... FEB.. . MAR.. . APR... MAY. . . JUN... JUL... AUG... SEP... OCT... NOV... DEC.. .

1981 JAN... FEB. . . MAR.. . APR.. . MAY... JUN... JUL... AUG... SEP... OCT... NOV... DEC.. .

1982 JAN... FEB... MAR... APR... MAY... JUN... JUL AUG...i SEP...I OCT...| NOV...| DEC...|

1 LARGE TIME DEPPS] 1 AT I COMMERCIAL 1 BANKS I 190.7 I 193.2 I 195.3 I 198.6 I 199.9 I 195.1 1 191.1 1 191.1 I 193.9 1 197.4 1 204.7 I 214.0

223.8 228.1 225.6 223.9 230.9 237.0 242.8 247.3 249.4 248.9 248.3 247.5 249.6 254.2 256.3 260.4 262.2 264.5 268.8 269.7 269.0 ! 271.1 | 269.8 | 262.0 |

1 AT ! THRIFT i INSTITUTIONS 1 33.6 1 34.9 I 36.0 1 37.2 1 38.2 1 39.0 i 39.6 1 40.4 ! 41.5 ! 42.9 ! 43.5

44.9 46.1 46.6 47.2 47.8 49.2 49.6 50.3 51.5 52.6 53.2 54.0 54.6 55.8 57.2 58.5 58.8 59.1 60.0 60.3 60.9 62.1 63.4 65.8 66.2

:TS TOTAL 224.3 228.1 231.3 235.8 238.1 234.1 230.7 231.5 235.4 240.3 248.2 258.9 269.3 274.7 272.S 271.6 280.1 286.6 293.1 298.7 301.9 302.1 302.3 302.1 305.4 311.4 314.7 319.3 321.2 324.5 329.1 330.6 331.1 334.5 335.7 328.3

SAVINGS BONDS 7879 78.1 76.9 75.3 74.2 73.7 73.6 73.3 73.1 72.9 72.7 72.3 71.6 71.0 70.6 70.3 69.9 69.6 69.3 68.9 68.5 68.1 67.8 67.8 67.8 67.8 67.7 67.6 67.6 67.6 67.6 67.5 67.5 67.7 67.8 67.9

SHORT-TERM TREASURY SECURITIES 110.1 112.0 116.2 125.7 128.2 123.7 120.9 124.8 127.1 126.0 128.9 133.8 137.9 143.1 138.3 134.5 136.7 139.2 139.4 140.7 144.3 151.2 154.3 150.3 153.0 161.5 162.7 164.8 167.4 168.6 172.1 176.2 178.2 183.5 186.1 188.8

BANKERS ACCEPTANCES 2773 28.0 28.9 29.2 29.5 30.0 29.5 29.4 30.5 31.2 31.7 32.0 32.3 33.3 34.7 36.0 36.7 37.4 38.3 38.4 38.3 38.3 39.2 39.7 40.2 40.6 40.1 40.5 41.5 41.7 42.0 41.1 41.5 43.1 43.2 43.9

COMMERCIAL | PAPER | 9875 | 99.2 | 99.6 |

100.0 | 98.8 | 97.0 | 96.2 I 96.2 I 97.2 I 97.3 | 97.8 | 98.1 | 97.4 | 96.5 | 95.5 | 93.4 | 96.3 | 99.3 | 99.8 |

101.3 | 102.6 | 103.1 | 102.3 | 102.8 | 104.2 | 107.0 | 108.7 | 108.0 | 110.3 | 113.8 | 116.8 | 110.0 | 111.6 | 110.2 | 105.2 | 107.0 |




1983 JAN... FEB. . . MAR.. . APR... MAY... JUN... JUL... AUG. . . SEP. . . OCT. . . NOV. . . DEC.. .

1984 JAN... FEB. . . MAR... APR... MAY. . . JUN... JUL... AUG. . . SEP. . . OCT... NOV. . . DEC.. .

1 LARGE TIME DEPPS] 1 AT 1 COMMERCIAL 1 BANKS 1 243.4 1 232.8 I 227.0 I 226.2 1 223.5 1 225.8 I 223.6 I 225.6 I 227.0 I 225.2 I 227.9 1 228.9 I 229.4 I 231.1 1 233.9* 1 237.6 1 245.2 I 249.4 1 254.6 1 255.0 1 258.0 1 263.2 I 263.6 1 264.3

AT THRIFT INSTITUTIONS 63.4

63.2 65.3 69.2 72.7 75.6 80.2 85.1 90.9 95.4 98.6

101.9 106.7 111.9 115.8 120.1 124.6 130.1 134.6 137.6 138.1 142.5 147.6 152.4

:TS TOTAL 306.8 296.0 292.4 295.4 296.2 301.4 303.8 310.7 317.8 320.6 326.6 330.8 336.1 343.0 349.7 357.7 369.8 379.5 389.3 392.6 396.1 405.7 411.2 416.7

SAVINGS BONDS 6871 68.5 68.8 69.1 69.5 69.7 70.0 70.2 70.5 70.7 70.9 71.1 71.4 71.8 72.1 72.5 72.7 73.0 73.1 73.3 73.6 73.7 73.9 73.9

SHORT-TERM TREASURY SECURITIES

192.1 189.6 189.0 198.3 201.1 206.0 216.2 219.3 219.0 217.8 217.4 223.8 226.7 233.2 243.4 242.0 241.5 251.6 259.9 269.2 250.4 279.9 275.0 ! 271.7 1

BANKERS ACCEPTANCES

4475 43.6 42.7 42.4 41.8 41.2 42.4 44.2 44.4 43.6 43.5 44.1 43.3 42.9 44.0 44.7 46.5 47.7 48.2 47.8 46.8 44.8 42.5 i 40.7 I

i COMMERCIAL 1 ! PAPER I

111.4 I 113.1 1 117.1 I 118.9 I 118.0 I 119.0 I 122.3 I 118.2 I 123.2 I 123.4 | 124.7 I 135.2 I 134.9 | 137.3 I 142.9 I 146.9 | 151.4 | 157.1 | 160.2 | 161.4 | 158.2 I 156.6 | 157.9 | 161.9 |


TABLE 4 COMPONENTS OF MONEY STOCK MEASURES AND LIQUID ASSETS BILLIONS OF DOLLARS, NOT SEASONALLY ADJUSTED

1959 JAN... FEB... MAR... APR... MAY... JUN... JUL... AUG... SEP . . OCT... NOV... DEC... 1960 JAN... FEB... MAR... APR... MAY... JUN... JUL... AUG... SEP... OCT... NOV... DEC... 1961 JAN... FEB... MAR... APR... MAY... JUN... JUL... AUG... SEP... OCT... NOV... DEC...

I CURRENCY

I 28.6 I 28.4 I 28.5 I 28.5 I 28.7 I 28.9 I 29.1 I 29.1 I 29.1 I 29.0 I 29.2 I 29.5 I 28.9 I 28.6 I 28.7 I 28.8 I 28.8 I 28.9 I 29.1 I 29.1 I 29.1 I 29.1 I 29.3 I 29.6 I 28.8 I 28.6 I 28.6 I 28.7 I 28.7 I 28.9 I 29.2 I 29.2 I 29.3 I 29.4 I 29.7 I 30.2


DEMAND DEPOSITS 114.2 111.5 110.5 111.8 110.5 111.0 111.6 111.3 131.8 112.2 113.2 114.8 115.1 111.9 110.5 111.6 109.5 109.7 110.4 110.9 112.1 112.8 113.8 115.7 116.5 113 Z 112.8 114.5 112.7 113.1 113.2 113.1 114.6 115.9 117.5 119.9

OTHER CHECKABLE DEPOSITS AT COMMER-BANKS oTo 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

AT THRIFT INSTITUTIONS 0.0 0.0 0.0 0.0 0.0 0.0 O.C 0.0 o r> 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

TOTAL

oTo 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

! o.o 0.0 1 0.0 ! 0.0 0.0 0.0 1 0.0 1 0.0 i 0.0 0.0 ! 0.0 i 0.0 ! 0.0 1 0.0

NONTRANSACTION COMPONENTS! IN M2

146.7 147.5 148.5 149.5 150.6 152.2 153.3 353.9 154.8 155.2 155.1 156.0 157.2 157.7 158.7 159.5 160.3 161.9 163.6 164.8 166.2 167.6 168.3 169.7 171.9 173.9 175.4 176.7 178.3 180.4 182.1 183.2 184.5 185.8 186.5 188.0

IN M3 | ONLY | 2.2 | 2.2 | 2.2 | 2.2 | 2.3 | 2.3 | 2.3 | 2.2 | 2.1 I 2.0 | 1.9 | 1.8 | 1.9 | 1.9 | 2.0 | 2.1 I 2.2 | 2.2 | 2.3 | 2.5 | 2.6 | 2.6 | 2.6 | 2.7 | 3.0 | 3.3 | 3.6 | 4.0 | 4.4 | 4.8 | 5.1 I 5.2 | 5.2 | 5.2 | 5.2 | 5.2 |



1962 JAN... FEB... MAR... APR.

TABLE 4 COMPONENTS OF MONEY STOCK MEASURES AND LIQUID ASSETS BILIIONS OF DOLLARS, NOT SEASONALLY ADJUSTED

1965 JAN... FEB... MAR... APR... MAY... JUN... JUL.,. AUG... SEP... OCT... NOV... DEC... 1966 JAN... FEB... MAR... APR... MAY... JUN... JUL... AUG... SEP... OCT... NOV... DEC... 1967 JAN... FEB... MAR... APR... MAY... JUN... JUL... AUG... SEP... OCT... NOV... DEC...

I CURRENCY

I 34.4 I 34.2 I 34.3 I 34.5 I 34.6 I 34.9 I 35.4 I 35.5 I 35.6 I 36.0 I 36.5 I 37.1 I 36.5 I 36.4 I 36.5 I 36.8 I 37.0 I 37.3 I 37.8 I 37.8 I 37.9 I 38.1 I 38.5 I 39.1 I 38.5 I 38.3 I 38.5 I 38.6 I 38.8 I 39.2 I 39.6 I 39.6 I 39.7 I 40.0 I 40.5 I 41.2

NONBANK TRAVELERS CHECKS 075 0.5 0.5 0.5 0.5 0.6 0.6 0.6 0.6 0.6 0.5 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.7 0.7 0.7 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.7 0.8 0.7 0.7 0.7 0.7 0,7

DEMAND DEPOSITS 132.0 127.0 126.5 129.1 125.1 126.6 127.3 126.6 129.3 131.5 132.8 136.6 138.4 133.3 133.2 136.7 131.9 133.7 132.4 131.3 134.1 134.6 135.3 138.8 139.2 134.3 135.4 137.2 134.5 137.4 138.7 138.6 141.1 143.1 144.5 I 148.3

OTHER CHECKABLE DEPOSITS AT COMMER-BANKS oTo 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

AT THRIFT INSTITUTIONS 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1

TOTAL

oTI 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1

NONTRANSACTION COMPONENTST IN M2

265.5 268.3 270.8 272.1 273.4 276.2 278.7 280.5 282.9 285.5 286.8 288.8 291.5 293.5 295.6 296.1 296.6 297.9 299.3 300.2 301.9 303.6 303.6 305.2 308.1 310.2 313.5 316.4 319.3 323.5 327.2 329.6 332.6 335.5 336.0 1 337.7

IN M3 | ONLY | 1871 T 18.7 | 19.0 | 19.4 | 19.9 | 20.1 I 20.5 | 21.2 | 21.3 | 21.7 | 22.0 | 22.4 | 23.0 | 23.4 | 23.9 | 25.2 | 26.1 | 26.1 I 26.9 | 27.4 | 26.6 | 25.1 | 24.3 | 24.9 | 27.3 | 29.5 | 30.5 | 30.9 | 31.2 | 31.1 | 31.1 | 32.3 | 32.0 | 31.6 | 32.5 | 32.9 |



1968 JAN... FEB... MAR... APR... MAY... JUN... JUL . . AUG... SEP... OCT... NOV. DEC...

1969 JAN... FEB. . . MAR... APR... MAY... JUN... JUL... AUG... SEP... OCT... NOV... DEC...

1970 JAN... FEB.. . MAR... APR... MAY... JUN JUL AUG... SEP... OCT... NOV... DEC...

CURRENCY

4079 40.3 40.7 41.0 41.3 41.8 42.3 42.5 42.6 42.8 43.6 44.3 43.5 43.4 43.7 43.8 44.2 44.7 45.2 45.4 45.3 45.6 46.4 46.9 46.1 45.9 46.3 46.6 47.3 47.7 48.3 48.3 48.2 48.5 49.2 50.0


DEMAND DEPOSITS 149.7 143.8 143.9 147.5 144.4 147.5 1'8.7 148.0 150.3 152.6 155.2 159.7 161.6 155.0 155.3 158.9 154.3 156.6 157.1 155.1 157.0 158.4 159.7 163.5 165.9 157.1 158.2 162.5 157.9 i 160.1 160.7 ! 160.5 ! 163.5 ! 164.8 166.4 171.2

OTHER CHECKABLE DEPOSITS 1 AT COMMER-BANKS oTo 0.0 0.3 0.0 0.9 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 I 0.0 0.0 0.0 ! 0.0 1 0.0 i 0.0 i 0.0 ! 0.0 1 0.0 ! 0.0 0.0

AT THRIFT

INSTITUTIONS 0.1 0.1 0.1 0.1 0.1 0.1 0.7 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 i 0.1 I 0.1 | 0.1 | 0.1 I 0.1 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 I 0.1 | 0.1 | 0.1 |

TOTAL

O 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 I 0.1 | 0.1 | 0.1 | 0.1 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.1 | 0.1 | 0.1 |

NONTRANSACTION COMPONENTS! IN M2

340.8 343.3 346.2 347.7 349.0 352.1 354.4 356.2 359.3 362.3 363.0 364.9 367.7 369.9 373.1 374.0 374.2 376.5 377.4 377.1 378.2 378.8 379.8 381.1 ! 381.0 I 381.6 384.1 i 384.8 I 386.9 | 390.6 | 392.6 I 394.4 | 397.2 1 400.9 | 403.0 | 407.0 I

I IN M3 1 1 ONLY 1

3278 T 1 33.3 1 1 33.9 I ! 33.7 I 1 33.8 I ! 33.1 |

34.5 I 36.9 I 37.1 I 38.0 I 39.3 1 40.4 I 38.6 I 37.1 I 36.1 I 35.8 I 35.4 I 33.3 I 30.1 I 28.2 I 26.6 I 25.5 I 26.3 I 25.9 I 24.4 I 24.8 1 26.2 1 29.4 i 30.7 | 29.6 I 34.4 | 39.3 I 42.8 I 45.3 I 46.7 | 49.0 I


TABLE 4 COMPONENTS OF MONEY STOCK MEASURES AND LIQUID ASSdTS BILLIONS OF DOLLARS, NOT SEASONALLY ADJUSTED

1971 JAN... FEB... MAR... APR... MAY... JUN... JUL... AUG... SEP... OCT... NOV... DEC... 1972 JAN... FEB... MAR... APR... MAY... JUN... JUL... AUG... SEP... OCT... NOV... DEC... 1973 JAN... FEB.. . MAR... APR... MAY... JUN... JUL... AUG... SEP... OCT... NOV... DEC...

CURRENCY

4971 49.1 49.5 50.1 50.5 51.0 51.9 51.9 51.9 52.2 52.7 53.5 52.6 52.6 53.1 53.5 53.9 54.4 55.1 5

Documents

h6_198503_revision.pdf