h6_19690925_revision.pdf

REVISION Revision - See Federal Reserve Bulletin October 1969 and pages attached to

the release of September 257 1969

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

FEDERAL RESERVE s t a t i s t i c a l r e l e a s e

For immediate release. H.6 September 25, 1969

Revision of Money Supply and Related Data

Money supply and time deposits data have been revised to reflect changes in seasonal factors and adjustments to benchmarks for June and December 1968 and for June 1969, These revisions, which are incorporated m the series once a year* affect the series mainly from 1967 to date Revised data for this period are appended to this issue of the H,6 release. Some minor revisions of data for recent years prior to 1967 will he made available in the October Federal Reserve Bulletin* together with a description of the revision.

Benchmark adjustments are required periodically primarily to correct estimates of deposits and cash at nonmember banks. Non-member banks report such data only on semiannual condition reports, but estimates for these banks are included in the current statistics, based on data reported by the smaller member banks. The June~ 1969 benchmark added $400 million to money stfpply growth over the first half of the yearor about 1/2 percentage point at an annual rate and $800 million to nonmember time deposit growth. Seasonal revisions smoothed the monthly and quarterly movements of money supply somewhat.

Based on the revised series, the money supply increased m the first half of 1969 at a 4 3 per cent annual rate, compared wih 3 8 per cent before the revision. The average annual rate of growth was about 0.5 per cent in July and August, according to both the revised series and the old series. Time deposits adjusted declined m the first half of 1969 at a 4 per cent annual rate on the revised basis, about 1 percentage point less than before the revision. The July-August decline in time deposits averaged 19 per cent, annual rate, about 1 percentage point more'than before the revision.


F E D E R A L RESERVE s t a t i s t i c a l r e l e a s e

H.6 For immediate release September 25, 1969

The seasonally adjusted money supply averaged about $199.4 billion in the three weeks ending September 17, about $300 million higher than in August Total time and savings deposits have changed little since late August, following large declines in other recent months.

MONEY SUPPLY AND TIME DEPOSITS (Averages of daily fxgtires, in billions of dollars)

Seasonally adjusted (KEVISED SERIES)

Money Supply Time deposits 1 adjusted (All commercial Period Total Currency Demand deposit Time deposits

1 adjusted (All commercial

component component banks) 1968August ! 191 0 , - _ 148.6 193.8

September 191.4 42.7 148.8 196.4 October 191.8 42 8 149.1 199 4 November 193.6 43.2 150.5 202.1 December 194.8 43.4 151.4 204 9

1969January ! 195.8 43 5 152.3 203 2 February 196.3 43.8 152.5 202 4 March 196.8 1 44.1 152.7 202 3 A M I 198.1 44.2 154.0 202 3 May 198.3 44.5 153.8 201 7 June 199.0 44.8 154.2 200 8 July 199.4 45.0 154.4 197 7 August 199.1 45.3 153.8 194 5

Week ending; 1969Aug. 6 199.1 45.1 153 9 195.6

13 199.1 45.2 154 0 194 9 20 199.5 45.2 154 3 194 4 27 198.9 45.3 153.7 j 193 9

Sept. 3 199.5 45 5 154 0 194 0 10 p 199.2 45 1 154 1 193 9 17 P 199.6 ' 45 2 154.4 194 2

Average of last 4 weeks 199.3 M 1 Willi .!!

45-

3 1 154.1 194.0

p - Preliminary


DEMAND DEPOSITS, CURRENCY, AND RELATED ITEMS

(Averages of daily figures, l-n billions of dollars. Not seasonally adjusted )

(REVISED SERIES) R e l a t e d d e p o s i t s

Per iod Money Supply ( A l l commercial banks) Per iod

1 To ta l 1 Currency ! component

Demand deposx t component

Time j adjus ted

U S . Gov' 1 demand

t

1968August 188 0 ! 4 2 . 5 145 .5 1 9 4 . 7 5~e> September 190 .1 42 7 147,. 4 1 9 6 . 6 6.1v October 192 0 4 2 . 8 1 4 9 . 2 1 9 9 . 6 6 . 3 November 1 9 5 . 3 43 6 151,. 7 2 0 1 . 3 4 . 5 December 201 .0 4 4 . 3 1 5 6 . 7 2 0 3 . 1 5 . 0

1 9 6 9 - - J a n u a r y 201 .7 4 3 . 5 1 5 8 . 2 2 0 2 . 8 4 . 9 February 194 8 4 3 . 4 1 5 1 . 4 2 0 2 . 4 6 . 9 March 1 9 5 . 0 4 3 . 7 1 5 1 . 3 2 0 2 . 9 4 . 8 A p r i l 199 .2 43 8 1 5 5 . 3 | 2 0 2 . 7 ! 5 . 4 May 194 .4 ' 4 4 . 2 1 5 0 . 3 i 202.2" ! 9 . 2 June 197 .0 44 7 1 5 2 . 3 2 0 1 . 0 6 . 0 J u l y 197 .9 4 5 . 2 152 .7 1 197 .7 5 . 6 August 196 .0 4 5 . 4 1 5 0 . 6 | 194 .5 4 . 3

Week end ing 1969Aug. 6 197 .7 4 5 . 4 1 5 2 . 2 196 .2 5 . 3

13 196 .5 4 5 . 5 151~ 1 1 9 5 . 8 4 . 0 20 195.5 4 5 . 3 1 5 0 . 1 1 9 5 . 4 3 . 4 27 1 9 4 . 1 4 5 . 1 1 4 9 . 0 1 9 5 . 1 4 . 8

S e p t . 3 1 9 7 . 1 4 5 . 4 1 5 1 . 7 1 9 4 . 8 3 . 5 10 p 1 9 8 . 1 4 5 . 6 ] 152 .5 194 .5 3 . 4 17 p 199,6 4 5 . 3

| t

J i

1 5 4 . 3 1 9 4 . 2 4 . 5

p - Preliminary NOTE Money supply consists of (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 Federal Reserve float; (2) foreign demand balances at Federal Reserve Banks, and (3) currency outside the Treasury, the Federal Reserve and the vaults of all commercial banks Time deposits adjusted are time deposits at all commercial banks other than those due to domestic commercial banks and the U S Government


REVISED SERIES September 25, 1969

Money Supply and Related Data 1967-1969

(billions of dollars)

Seasonally Adjusted Money Supply

Tulol Currency C0lll[H>lltilll

Demand Deposit Component

Time Deposits adjusted 1

Money Supply

Total

Not Seasonally Adjusted

Currency Component

Deposit Component

Time Deposits Adjusted 1/

M u m i >n i ii i i '

U.S. Government Demand Deposits 1/

1968Oct 2 9

16 23 30

Nov, 6 13 20 27

Dec 4 11 18 25

1969Jan 1 8

15 22 29

Feb 5 12 19 26

Mar 5 12 19 26

191.1 191.6 191.6 191.8 192.2

193.5 192.5 193.6 194.4

194 7 194.8 194.8 194.8

195 3 196.8 196 1 196.0 194.2

195.3 195.6 197.1 196 8

42.7 42.7 42.8 42.8 42.9

43 0 43.1 43.2 43.3

43.4 43.4 43.4 43.4

43.4 43.5 43.6 43.6 43.6

43.7 43.8 43 8 43 8

148.4 148,9 148.9 149.0 149,3

150.5 149,4 150.4 151,2

151,3 151.4 151,3 151,3

151,9 153,3 152,5 152,4 150,6

151,6 151,8 153.2 153.0

196 4 43 9 152 5 196.4 44.0 152.5 196.8 44 1 152.8 196.9 44.2 152.7

\l At a l l commercial banks

197,7 198,6 199,1 199,9 200.5

200,8 201.3 202,2 203.1

204,1 204,7 205.1 205,2

205,2 203,9 203,5 202.9 202,9

202.2 202.2 202.6 202.6

202.4 202.3 202.3 202.3

191.2 191,9 193/3 190.8 191.9

195.6 194,0 194.9 195,3

197,8 19819 201.1 201,2

205,6 206.2 203,5 200.6 196.5

197.4 195,4 194.9 192.4

194 8 195.1 195 8 193.6

42,4 43.1 42,9 42,8 42,5

43,3 43.6 43.5 43,6

44,1 44,4 44.3' 44,7

43.9 44.1 43,6 43,4 42.9

43.3 43.6 43.4 43.1

43.5 43.8 43.8 43 5

148,9 148,7 150.4 148.0 149,4

152.4 150,4 151,4 151,8

153,7 154.5' 156.8 156.6

161,7 162.1 160 0 157.2 153.6

154.1 151,8 151.4 149.3

151.2 1512 152.0 150.1

197,7 198,8 199,3 200,1 200.5

200.8 200,9 201,0 201,8

202,4 203,0 203.2 203.2

203.3 203.1 203 1 202.5 202.4

*202,2 202 4 202,4 202.6

202.6 202.9 202.9 202 9

8.4 7.4 5,1 5 5 7 0

6.0 5 1 3.5 4 2

3.5 3.4 4.8 7.1

5 4 4,5 2 8 4,6 7.0

7.6 7 3 6.8 6 7

5 3 42 46 5.9


REVISED SERIES Seplembei 25, 1969


(bil l ions of dollars) ^ m J j H I J i l L i g l i i H I W i i l M l f M I ^ 1

Seasonally Adjusted wwiiM.r n iin,.jim

l tot Seasonally Adjusted ' l imiWIMiTTI 1 n i M

Mot Ey Supply Time

Monej ' Supply Time

U.S. Demand Time Demand Time Government

Currency Deposit Deposits Currency Deposit Deposit's Demand Total Component Component Adjusted 1/ Total Component Component Adjusted 1/ Deposits 1/

1967 I n . * - . * . . l p.WW,


Money Supply and Related Data 1967-196'$

(bi l l ions of dollars)

Seasonally Adjusted WMWMlttlMUlliM

Not Seasonal ,ly Adjusted Money Supply

Time Hon? ' supply

Time U.S.

Demand Time Demand Time Government Cunency Deposit Deposits Currency Deposit Deposits Demand

Total Component Component Adjusted 1/ Total Component [Component Adjusted 1/ Deposits 1/

1967Oct, 4 180,0 39,8 140,2 179.6 179.7 39.6 140.1 179.6 6.1 11 180 3 39 9 140.4 179.9 180,7 40,2 140,5 180.1 5.3 18 180.4 39.9 140.5 180,3 181.3 40,1 141.1 180.5 6.7 25 180.5 40.0 140.5 180,4 179,9 39.9 140,0 180.6 70

Nov 1 180,7 40.0 140.8 181.1 181.7 39.7 142.1 181.1 6.3 8 181,0 40.0 141,0 181,1 182.9 40,4 142.5 181,1 5.7

15 181 1 40.0 141.1 181.8 183.2 40.4 142.7 181,3 4,2 22 181,3 40.1 141.1 182.2 182.2 40.6 141.6 181,1 5.9 29 181,3 40.2 141.1 182.9 182.2 40.6 141.6 181.6 52

Dec 6 181.4 40,2 141,2 183.3 185.2 40,9 144.3 181,8 4.8 13 181.4 40.3 141,2 183.6 185.7 41.2 144.5 182.1 3.2 20 181.6 40.3 141.2 183.7 188.1 41.2 146.9 181.9 4.7 27 181.8 40.5 141.3 183,7 188.0 41,7 146 3 182 0 7.1

1968-Jan. 3 182.3 40.5 141.9 183.9 192.0 40,9 151,1 182.6 5.5 10 182 5 40.5 142.0 183.8 190.1 41.0 149 1 183.0 4.7 17 182.6 40.6 142.0 184.1 189.9 40.6 149.3 183.7 3.1 24 182.6 40.6 142.0 184 2 186.0 40.3 145 6 184 0 60 31 182 6 40.6 142.0 184.7 184.4 39.9 144.4 184.7 5 9

Feb. 7 183.0 40.7 142 4 185.0 184.9 40,4 144 5 185.0 7.2 14 183.3 40.7 142.5 185.6 182.5 40.5 142.0 185 6 62 21 183.5 40.7 142.8 186.0 181.1 40,3 140.8 186.0 5.5 28 183.7 40.8 142 9 186.6 179.2 40.1 139 1 186.6 98

Mar 6 | 183.9 40.9 143 0 186 8 182 2 40 5 1416 187 0 8.5 13 184 2 41.0 143 2 187.2 182.7 40.8 141 9 187 8 6 0 20 184 2 41 1 143.2 187 4 183 1 40 7 142.3 187.8 64 27 184 4 41.1 143 3 187 5 181.8 40 5 1413 188 1 7 0

1/ At a l l commercial banks Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis




Seasonally Adjusted Money Supply

Total Currency Component



Mot Seasonally Adjusted Money Supply



Time Deposes Adjiibted 1/

U,8, Government Demand Deposits 1/

1968Apr. 3 10 17 24

May 1 8

15 22 29

June 5 12 19 26

July 3 10 17 24 31

Aug. 7 14 21 28

Sept. 4 11 18 25

184.6 184 7 186 1 184 8

184 9 185 7 186 1 187.3 188.1

188.4 187 4 187,6 188.6

189.6 189.3 189.5 189.4 190,0

190.9 190.7 191 1 1913

191.3 191.4 1 9 1 0 191.1

41.2 41.2 41.3 41.3"

41.4 41.5 41.5 41.6 41.7

41.8 41.9 41,9 41.9

42.0 42.1 42 .1 42.1 42.1

42.2 42.4 42.4 42.5

42.6 42.6 42.6 42.5

143,5 143,5 144.8 143.5

143,5 144.2 144.5 145.7 146 4

146.6 145.4 145,7 146.7

147,6 147.2 147 4 147.3 147.8

148.6 148.4 148,7 148.8

149 7 148.8 148.3 148,5

187 4 187.5 187.8 187,4

187,8 187.9 188,3 188,3 188.3

188,5 188,6 188 5 188,3

188,9 189,9 190,9 191,8 192,8

192.9 193,5 194.0 194,4

195 2 195,6 196.3 196,9

183 6 185.1 189,8 186,1

184.3 184,2 183.5 182.1 182,3

185,7 186,0 187.1 185.2

188.9 187.9 189,5 186,6 188,0

189.4 188,4 187,2 186,8

189,0 190,7 190.6 188,0

40.7 41.4 412 40.8

40,6 41,4 41.4 41,3 41.11

41,7 42,0 41.8 41,6

41,9 42,8 42,3 42,1 41.9

42,5 42,7 42,6 42.3

42,6 43,0 42.7 42,3

142,9 143 8 148,5 145 3

143,7 142,7 142,1 140.7

441,2

144,0 143,9 145.2 143.6

147.0 145,1 147 2 144 5 146,1

146.9 145,7 144,6 144.5

146,4 147,8 147.9 145.7

1/ At all commercial banks,

188 3 188,3 188,0 187.6

188,2 188,3 188,7 188,7 188 7

188,8 189,0 188,7 188,5

189,5 189 9 190.9 191.8 192,8

193.5 194,4 195 0 195.6

196,0 196.2 196,3 196.9

5.2 3.7 2,8 5,0

5,6 7,4 5,8 6 9 6.3

4.9 4 2 4,9 8,5

4,8 4.4 5 5 7.7 6.4

5,9 4 9 6.1 6.1

4,4 3.5 5,2 8.8



Honey Supply and Related Data 1967-1969


Seasonally Ad lusted Money Supply


Deposit Component


NotJeasona Money Supply

Toul Currency Component


ly Adjusted


US . Government

Deposits 1/

. 2 197.6 9 199.0

16 198.7 23 197.4 30 196.9

7 197.2 14 197.8 21 199.5^ 28 199.1

June 4 11 18 25

July 2 9

16 23 30

Aug 6 13 20 27

Sept. 3 10 p 17

P

198.8 198.8 198 2 199.1

199.2 199 4 199.3 199.1 199.1

199.1 199.1 199 5 198 9

199.5 199.2 199 6

44,2 44.2 44,2r

44.2

44.3 44,4 44.4 446

44.7 44.7 44.8 44.8

44.9 44.9 45.0 45.0 45.0

45.1 45.2 45 2 45.3

45.5 45.1 45 2

153.4 154.7 154.5 153.2 152.7

152.9 153.4 155.1 154.6

154.0 154.0 153.5 154.2

154.4 154.5 154.3 154.2 154.1

153 9 154.0 154.3 153.7

154 0 154 1 154.4

202.6 202.6 202,4 202,3 202.0

202.0 201,8 201.7 201.7

201.6 201.5 200.9 200.1

199.3 W M 197.9 197.2 196.7

195.6 194.9 194.4 193.9

194.0 193.9 194 2

196.3 199.9 202.0 198,8 196.0

195.1 194.6 194.1 193.7

196.2 197.4 198.0 195.4

198.5 198.6 198.9 196.5 196.4

197.7 196.5 195.5 194.1

197,1 198,1 199.6

43.7 44,4 43.9 43,7 43,4

44,1 44.2 44.1 43.9

44.7 44.9 44.7 44.5

44 8 43.8 45 2 45.1 44.7 45 4 45.5 45.3 45 1

45 4 45 6 45 3

152,7 155,5 158,0 155.1 152.5

150.9 150,5 150,0 149.8

151.5 ir2 5 153.3 150,9

153,7 152.8 153.7 151.4 151.8

152.2 151.1 15a. 1 149 0

151.7 152.5 154 3

203,4 203,3 202,8 202,3 202,2

202,2 202,3 202.1 202,1

202 0 201.7 200,9 200.3

199 9 198.8 197 9 197 2 196.7

196.2 195.8 195 4 195 1

194 8 194 5 194 2

3,7 3,8 3,4 6.7 8,0

10,2 10,2 9.3 8 3

5.7 4.3 5.7 8.4

5 8 5.7 3.2 7.0 6.4

5 3 4.0 34 48

35 34 4 5

1/ At a l l comnercial banks. p - Preliminary.



Money Supply and Re k t e d Data 1967-1969

(bi l l ions oi : dpllars)

Seasonally Adjusted , Not Seasonal l y Adjusted >**mmiVMw*m^^^^mm**mi Moray Supply

Time Mong) [ Supply

Time TuT '

Demand Time Demand Time Government Cunemy Deposit Deposits Currency Deposit Deposits Demand

Tuldl Component. Coiipunem Adjusted 1/ i f / l l l i III! Ijlllll- - . 'I . 1

Total Component Component Adjusted 1/ Deposits 1/ 1967-Apr 5 173 3 39.0 134.3 167 5 172.9 38,5 134,4 168.2

* * ! ^ ' il % II1 | I ) I I H ^ | | | I W I I | 1 | W ,

4.9 12 172 9 39 0 133.9 168,0 173.9 38.9 135,0 168,7 39 19 172.3 39.0 133 3 168.4 175.2 38 7 136-6 168.7 3.6 26 172 0 39.0 133.0 168.8 172,6 38.4 134.2 169.0 6.0

May 3 172.& 39.0 133.7 169 1 172,6 38,5 134 1 169 5 6.7 10 173 3 39.1 134.2 169.7 171.3 39.1 132,2 170,1 7.9 17 174.5 39 1 135.5 170.3 171.7 38.9 132,8 170,7 67 24 174 7 39.1 135 6 170.7 169.2 38,8 130.5 171.2 6.6 31 175 4 39.2 136,2 171.4 170.8 3877 132.1' 171.9 50

June 7 175.8 39.3 136.5 171.8 173.2 39.2 133.9 172,3 3.4 14 175.9 39.3 136.6 172.6 174.9 39.4 ;i35.5 173.0 2.3 21 176,0 39.3 136.7 172.9 176.3 39.3 137.1 172,9 4,8 28 176.3 39.4 137 0 173.1 172,8 39.0 133.8 173 .3 - 5.2

July 5 177,2 3974 137.8 174,0 175.7 39.5 136.2 174,2 5.1 12 177.4 39.4 138.0 174.6 175.9 39.8 136,1 174,4 4.7 19 177 4 39.4 138,0 175.2 176,2 39.5 136.7 175.2 6,1 26 177 6 39.4 138,2 175 5 174.7 39,3 135.4 175.7 6.6

Aug. 2 178.0 39.4 138.6 176,0 176.8 39.2 137.6 176.4 5.4 9 178 3 39.5 138.8 176.3 176,2 39,9 136.4 177.2 5.5

16 178 6 39.5 139.1 176.8 176.7 39.7 136.9 177.7 3,8 23 178.9 39.6 139.3 177,1 174 7 39.6 135,0 178.0 4.5 30 179,2 39.6 139.6 177,6 175.3 39;3 136,0 178.5 3,2

Sept 6 179.5 39.7 139.8 178.3 177.5 39.9 137.6' 178.9 4,3 13 179.6 39.7 139.9 178.5 179.1 39.9 139.2 179.1 3.3 20 179.6 39.8 139.8 178.9 179.6 39.7 139.9 178.8 4.7 27 179.8 39.8 140.0 179,3 177,3 39.5 137.9 179,1 6.9

1/ At all commercial banks, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

h6_19690925_revision.pdf

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