h6_198603_revision.pdf

March 1986

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 1985. Figures shown weekly are

for the period from 1975 to 1985 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 and incorporate

data revisions. In addition, RPs have been benchmarked to new quarterly and

annual RP surveys.

Seasonal Revisions

Seasonal factors have been revised based on the X-l 1 ARIMA procedure

adopted in 1982. The nontraasactions component of M2 again has been seasonally

adjusted as a wholeinstead of being built up from seasonally adjusted

savings and small time depositsin order to reduce distortions caused bv

portfolio shifts arising from financial change in recent years, especially

shifts to MMDAs in 1983. A similar procedure has been used to seasonally

adiust the non-M2 portion of M3.

Computer Tapes

Computer tapes containing historical data on the money stock are

available from the National Technical Information Service, U.S. Department of

Commerce, 5285 Port Royal Road, Springfield, VA 22161, telephone number (703)

487-4807.

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

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 Ml 1 I CURRENCY , | TRAVELERS I CHECKS, I DEMAND I DEPOSITS I AND OTHER I CHECKABLE I DEPOSITS I 139.8 I 140.3 I 140.7 I 140.6 I 141.6 1 142.1 I 142.7 I 142.8 I 142.0 I 141.4 I 141.4 I 141.0 I 141.0 I 140.9 I 140.8 I 140.6 I 140.7 I 140.7 I 141.3 I 142.4 I 142.3 I 142.0 I 142.0 I 141.8 I 142.2 I 142.8 1 143.1 i 143.3 ! 143.9 1 144.2 1 144.2 i 144.7 1 145.1 1 145.5 1 146.1 1 146.5

M2 Ml + OVERNIGHT RP'S AND EUROS, G/P a B/D MMMFS, MMDAS a SAV & SM. TIME DEP. ~ 2M.6 287.8 289.1 290.2 292.3 294.0 295.4 296.4 296.5 296.6 297.2 297.8 298.3 298.6 299.3 300.1 301.0 302.2 304.3 306.9 308.2 309.6 311.0 312.3 314.2 316.6 318.2 320.0 322.3 324.2 325.7 327.6 329.4 331.2 333.5 335.5

M3 1 M2 PLUS LARGE TIME DEP., TERM RP'S, EUROS AND INSTITUTION-ONLY MMMFS 2W.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 1 OTHER I LIQUID I ASSETS |

374.41 374.8 | 376.2 | 377.6 | 380.7 I 383.1 1 385.7 | 387.7 | 388.1 | 388.4 | 389.0 | 388.6 I 389.9 | 390.8 | 391.7 | 392.3 | 392.8 | 394.4 | 396.5 I 398.3 | 400.2 | 401.6 | 402.6 | 403.6 | 406.0 | 408.3 | 409.7 | 411.9 | 414.6 I 416.6 | 418.9 | 420.7 | 422.4 | 425.1 | 428.1 | 430.8 |

1 Ml 1 CURRENCY , 1 TRAVELERS 1 CHECKS, I DEMAND 1 DEPOSITS 1 AND OTHER 1 CHECKABLE 1 DEPOSITS t 143.I I 140.3 1 139.4 1 140.7 1 139.6 1 140.4 i 141.2 1 140.9 1 141.3 1 141.7 1 142.8 1 144.7 1 144.4 1 140.9 1 139.6 I 140.8 i 138.7 1 139.0 1 140.0 I 140.4 I 141.6 1 142.3 I 143.4 1 145.7 1 145.7 1 142.8 1 141.8 1 143.5 1 141.8 I 142.4 I 142.8 1 142.7 1 144.3 1 145.7 1 147.6 1 150.5

1 M2 i Ml + OVER-1 NIGHT RPfS ! AND EUROS, 1 G/P & B/D ! MMMFS, i MMDAS & SAV 8 SM. TIME DEP. ^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 I 317.2 1 320.3 i 320.1 322.8 324.9 325.9 328.8 331.5 334.1 i 338.6 I

1 M3 1 M2 PLUS 1 LARGE TIME DEP., TERM RP'S, 1 EUROS AND 1 INSTITU-iTION-ONLY MMMFfS 2 9 2 r 289.9 290.2 292.5 292.5 294.8 296.7 297.0 298.2 298.9 ! 299.8 I 302.5 I 303.4 1 300.5 I 300.2 I 302.5 i 301.1 I 303,1 I 305.9 I 307.7 1 310.4 I 312.6 I 314.3 I 318.0 | 320.5 I 320.0 I 320.8 | 324.3 | 324.5 I 327.6 I 330.1 | 331.1 | 334.1 | 336.8 I 339.3 I 343.7 I

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

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



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 Ml 1 I CURRENCY , I TRAVELERS I CHECKS, 1 DEMAND I DEPOSITS I AND OTHER I CHECKABLE L DEPOSITS 1 146:6 I 147.0 I 147.3 I 147.8 I 148.2 1 148.0 1 147.9 I 147.9 1 147.7 I 148.1 1 148.7 1 149.2 I 149.7 1 150.3 I 150.6 1 151.2 1 151.8 I 151.9 1 152.9 I 153.2 i 153.4 1 154.1 1 155.1 1 154.7 1 155.3 1 155.8 1 156.0 1 156.3 I 156.9 1 157.2 1 158.4 1 159.4 I 160.3 I 160.9 1 161.5 1 161.9

i M2 Ml + OVERNIGHT RP'S AND EUROS, G/P & B/D MMMFS, MMDAS & SAV & SM. TIME DEP. 337.6 340.3 343.0 345.6 347.6 349.2 351.0 352.9 354.7 357.3 359.9 362.7 365.4 368.0 370.5 373.4 376.2 378.3 381.3 383.7 385.8 388.5 391.6 393.2 395.5 397.7 399.6 401.8 404.3 406.9 410.3 413.5 416.6 419.3 422.2 424.8

1 M3 M2 PLUS LARGE TIME DEP., TERM RPfS, EUROS AND INSTITUTION-ONLY MMMFfS 34372 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 1 OTHER I LIQUID I ASSETS I

433.7I 436.6 I 440.2 I 443.5 | 445.9 I 448.4 | 450.4 | 453.2 I 455.6 I 457.5 I 462.0 I 466.1 | 468.9 I 472.7 | 475.5 I 478.2 I 481.7 | 484.0 I 486.8 I 490.9 | 494.6 I 497.0 I 501.6 | 503.8 | 506.3 I 508.9 | 511.1 | 513.7 | 517.2 I 520.8 I 523.7 | 526.3 I 530.8 | 534.5 I 537.7 I 540.4 |

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

1 M2 1 Ml + OVERNIGHT RP'S AND EUROS, G/P 8 B/D MMMFS, MMDAS & SAV & SM. TIME JEP. 341.2 340.3 342.1 346.0 345.1 347.7 350.1 351.0 354.0 357.6 360.5 365.8

369.1 368.1 369.8 373.9 373.4 376.8 380.3 381.5 384.9 388.8 392.3 396.5 399.6 397.6 398.9 402.5 401.3 405.4 409.4 411.2 415.8 419.9 423.0 428.4

1 M3 1 M2 PLUS i LARGE I TIME DEP.,| TERM RP"S,I EUROS AND 1 INSTITU- 1 TION-ONLY ! MMMFfS 1 346:B I 346.2 1 348.5 I 352.7 I 352.1 1 355.0 1 357.4 358.3 361.6 365.4 368.3 374.1 378.0 377.3 379.5 383.9 383.9 387.4 390.9 392.5 396.1 400.2 404.1 408.7 412.7 411.4 412.9 416.9 416.5 420.8 424.9 427.0 431.8 ! 436.3 439.7 445.5

] L 1 M3 PLUS OTHER LIQUID ASSETS

436:r i 437.7 440.3 444.9 444.7 447.0 449.0 1 451.5 453.9 456.6 461.9 468.1 472.2 473.9 | 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 1 524.2 | 528.8 533.6 537.8 542.8 1



1965 J A N . . . F E B . . . MAR. . . A P R . . . MAY. . . J U N . . . J U L . . . A U G . . . S E P . . . O C T . . . NOV. . . D E C . . .

1966 J A N . . . FEB. . . MAR. . . A P R . . . MAY. . . J U N . . . J U L . . . A U G . . . S E P . . . O C T . . . NOV. . . D E C . . .


1 Ml 1 1 CURRENCY , I TRAVELERS I CHECKS, 1 DEMAND 1 DEPOSITS I AND OTHER I CHECKABLE I DEPOSITS I K ? : 3 " ~ " 1 162 .5 1 1 6 3 . 1 1 163 .6 I 163 .3 1 163 .9 I 164 .7 1 1 6 5 . 3 1 166 .5 1 167 .7 1 168 .4 I 169 .5

I 170 .8 1 171 .3 1 172 .2 1 173 .5 I 173 .0 1 173 .3 1 1 7 2 . 1 1 172 .5 1 173 .7 I 172 .9 1 1 7 3 . 1 1 173 .7

1 173 .6 1 174 .8 1 176.6 1 176 .0 1 177 .5 1 178 .9 1 180 .0 1 181 .6 1 182 .6 1 183 .6 1 1 8 4 . 2 1 1 8 5 . 1

1 M2 1 Ml + OVERNIGHT RPfS AND EUROS, G/P & B/D

MMMFS, MMDAS &

SAV 8 SM. TIME DEP.

" 4"27.r""~ 430 .5 4 3 3 . 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 4 7 0 . 1 471 .0 471 .0 472.7 475 .3 4 7 6 . 1

! 477 .5 | 480 .0

481 .9 485 .0 489.4 492 .2 497 .2 502 .0 506.6 5 1 1 . 1

i 514 .8 I 518.6 i 521 .2 1 524 .3

M3 M2 PLUS

LARGE TIME DEP., TERM RP f S, EUROS AND

INSTITUTION-ONLY

MMMFS -4^5TT~"

4 4 9 . 1 451 .9 454 .6 4 5 6 . 5 459 .7 4 6 3 . 3 466 .7 470 .8 4 7 5 . 2 478 .6 4 8 2 . 2

485 .5 487 .8 490 .7 4 9 4 . 2 4 9 5 . 5 497 .0 497 .9 499 .7 5 0 2 . 2 501 .9 5 0 2 . 2 5 0 5 . 1

509 .4 5 1 4 . 3 519 .6 522 .6 527 .8 5 3 3 . 1 537 .9 543 .0

! 547 .0 550 .9 5 5 3 . 8 5 5 7 . 1

L 1 M3 PLUS | OTHER | LIQUID | ASSETS |

~^5T3 .Tr 546 .8 | 5 5 0 . 3 | 553 .7 I 556 .6 I 560 .7 | 5 6 5 . 0 | 5 6 8 . 5 I 5 7 2 . 3 | 576 .7 | 5 8 0 . 8 | 584 .4 |

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

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

i 6 5 3 . 8 1 i 6 5 8 . 4 |

6 6 2 . 2 | 6 6 6 . 5 |

1 Ml 1 CURRENCY , I TRAVELERS I CHECKS, I DEMAND I DEPOSITS I AND OTHER I CHECKABLE 1 DEPOSITS f~TT877r~~" 1 161 .9 1 161 .5 1 1 6 4 . 2 1 1 6 0 . 3 1 1 6 2 . 2 1 163 .5 I 162 .8 1 165 .6 I 1 6 8 . 2 1 169 .9 1 174 .4

1 175 .6 1 1 7 0 . 3 I 170 .4 1 1 7 4 . 1 I 169 .6 1 171 .7 1 171 .0 1 170 .0 1 172 .7 1 173 .4 1 174 .6 I 178 .6

1 178 .4 1 173 .4 i 174 .6 1 176 .6 1 1 7 4 . 1 I 177 .4 1 1 7 9 . 1 1 179 .0 I 181 .7 I 183 .9 i 185 .7 1 1 9 0 . 3

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

MMMFS, MMDAS &

SAV & SM. | TIME DEP. 1

~""53275" i 4 3 0 . 2 I 4 3 2 . 3 | 4 3 6 . 3 ! 433 .7 1 4 3 8 . 4 4 4 2 . 1 I 4 4 3 . 3 4 4 8 . 5 453 .7 456 .7 1 4 6 3 . 2

4 6 7 . 1 4 6 3 . 8 4 6 5 . 9 4 7 0 . 2 4 6 6 . 3 469 .7 470 .4 4 7 0 . 2 474 .7 4 7 7 . 0 4 7 8 . 2

1 4 8 3 . 8

4 8 6 . 4 483 .6 4 8 8 . 2 4 9 3 . 0 4 9 3 . 4 5 0 1 . 0

1 5 0 6 . 3 ! 508 .7 1 5 1 4 . 3 1 5 1 9 . 3 1 521 .7 1 5 2 8 . 0

M3 1 M2 PLUS I

LARGE | TIME DEP. , | TERM RPS,I EUROS AND 1

INST ITU- i TION-ONLY |

MMMF'S I " ~ ~ 4 5 0 7 3 T H

4 4 8 . 9 I 4 5 1 . 3 I 455 .7 I 453 .7 I 4 5 8 . 5 1 462 .6 I 4 6 4 . 5 4 6 9 . 8 ! 4 7 5 . 4 478 .7 I 485 .6

4 9 0 . 1 4 8 7 . 2 4 8 9 . 9 4 9 5 . 4 4 9 2 . 3 495 .7 4 9 7 . 3 497 .6 5 0 1 . 3 5 0 2 . 1 5 0 2 . 5 508 .7

513 .7 5 1 3 . 1 518 .7 5 2 3 . 8 524 .6 5 3 2 . 1

I 5 3 7 . 4 5 4 0 . 9

l 5 4 6 . 3 I 5 5 0 . 9 1 5 5 4 . 2 1 5 6 0 . 9

L 1 1 M3 PLUS 1

OTHER | LIQUID | ASSETS

" 547 . T H 547 .9 1 550 .9 | 555 .8 | 5 5 5 . 2 | 5 5 9 . 1 | 562 .9 | 5 6 6 . 1 | 5 7 0 . 3 | 575 .8 | 580 .7 5 8 7 . 1 1

592 .9 5 9 2 . 2 594 .9 | 600 .7 598 .7 | 6 0 0 . 2 6 0 0 . 3 601 .7 1 6 0 5 . 2 | 6 0 7 . 9 6 1 1 . 5 6 1 7 . 5

6 2 2 . 2 622 .7 6 2 8 . 2 1 6 3 2 . 4 | 6 3 2 . 4 | 6 3 7 . 3 | 6 4 1 . 3 | 646 .7 |

1 6 5 2 . 1 | 1 6 5 7 . 4 1 6 6 2 . 3 1 669 .6 1



1968 J A N . . . FEB. . . MAR. . . A P R . . . MAY. . . J U N . . . J U L . . . AUG. ... S E P . . . OCT. . . NOV. D E C . . .


1970 J A N . . . FEB. . . MAR. . . A P R . . . MAY. . . J U N . . . J U L . . . A U G . . . S E P . . . O C T . . . NOV. . . D E C . . .

1 Ml 1 1 CURRENCY , I TRAVELERS I CHECKS, I DEMAND I DEPOSITS I AND OTHER I CHECKABLE I DEPOSITS I TOST? I 186 .6 I 187 .4 I 188 .6 I 190 .0 I 191 .4 I 192 .6 I 193 .8 I 194 .7 I 1 9 6 . 1 I 198 .0 1 199 .4

I 200 .7 I 2 0 1 . 4 I 2 0 2 . 1 I 2 0 2 . 8 I 2 0 2 . 9 I 2 0 3 . 4 I 203 .7 I 203 .8 I 2 0 4 . 2 I 2 0 5 . 0 I 205 .6 I 2 0 5 . 8

I 2 0 8 . 2 I 2 0 7 . 0 I 207 .7 I 208 .7 I 2 0 9 . 2 I 209 .6 I 2 1 0 . 1 I 2 1 2 . 0 I 2 1 3 . 9 | 2 1 5 . 0 | 215 .8 I 216 .6

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

MMMFS, MMDAS &

SAV a SM. TIME DEP.

" ~ T 2 7 T 7 ' " ' 5 3 0 . 2 532 .8 535 .9 539 .0 542.6 546 .0 549 .9 553 .8 5 5 8 . 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 6 0 6 . 1 612 .4 617 .6 622 .4 6 2 8 . 2

M3 1 M2 PLUS

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

INSTITUTION-ONLY

MMMFfS ~ " M 0 T S ~

5 6 3 . 5 5 6 6 . 5 5 6 9 . 1 5 7 2 . 3 575 .9 581 .0 5 8 6 . 5 591 .0 596 .6 6 0 1 . 4 6 0 6 . 2

6 0 8 . 1 6 0 8 . 9 6 1 0 . 1 6 1 1 . 4 611 .6 6 1 2 . 2 610 .6 608 .7 6 0 9 . 0 609 .6 6 1 3 . 1 6 1 5 . 0

6 1 5 . 3 6 1 3 . 2 6 1 5 . 5 620 .7 624 .7 6 2 7 . 4 635 .7 6 4 4 . 8 6 5 4 . 4 6 6 2 . 3 6 6 9 . 3 6 7 7 . 5

L 1 M3 PLUS j OTHER I LIQUID i ASSETS I

~ ~ 6 7 2 : " 2 T ~ T 6 7 6 . 2 | 6 8 0 . 2 | 6 8 4 . 4 | 6 8 9 . 0 | 6 9 4 . 6 i 7 0 1 . 0 | 7 0 7 . 5 | 7 1 3 . 0 1 7 1 9 . 4 | 7 2 4 . 0 | 7 2 8 . 9 |

7 3 3 . 0 I 736 .6 | 7 4 0 . 3 ! 7 4 3 . 8 | 7 4 4 . 4 | 7 4 6 . 8 | 7 4 6 . 8 | 747 .6 | 7 5 1 , 0 | 7 5 3 . 4 1 7 5 9 . 3 | 7 6 3 . 5 |

7 6 6 . 0 | 7 6 5 . 8 | 768 .6 I 7 7 3 . 3 I 7 7 6 . 9 | 7 7 9 . 8 | 7 8 7 . 0 | 7 9 4 . 0 | 8 0 0 . 1 | 8 0 6 . 1 | 810 .7 | 8 1 6 . 3 |

i Ml | CURRENCY , I TRAVELERS I CHECKS, I DEMAND | DEPOSITS I AND OTHER I CHECKABLE I DEPOSITS T ^ ~ T 9 T 7 3 I 184 .9 I 185 .4 I 1 8 9 . 3 1 186 .5 i 1 9 0 . 2 1 191 .9 1 191 .4 1 193 .9 1 1 9 6 . 3 1 199 .6 1 2 0 4 . 8

1 205 .9 1 199 .3 1 199 .8 I 203 .6 1 199 .4 I 2 0 2 . 3 1 2 0 3 . 3 1 2 0 1 . 5 1 2 0 3 . 2 1 2 0 5 . 0 1 2 0 7 . 0 1 211 .4

1 2 1 2 . 9 1 2 0 4 . 0 1 2 0 5 . 5 i 2 1 0 . 1 1 2 0 6 . 2 1 208 .9 1 2 1 0 . 1 1 2 1 0 . 0 1 2 1 2 . 8 1 214 .4 1 216 .7 1 2 2 2 . 2

1 M2 Ml + OVERNIGHT RP fS AND EUROS, G/P 8 B/D

MMMFS, MMDAS 8

SAV 8 SM. TIME DEP.

"" 53771 5 2 8 . 2 531 .6 5 3 6 . 9 5 3 5 . 5 5 4 2 . 3 5 4 6 . 3 547 .6 5 5 3 . 2 5 5 8 . 5 562 .6 5 6 9 . 8

573 .6 5 6 9 . 2 5 7 2 . 9 5 7 7 . 5 573 .6 578 .8 580 .7 5 7 8 . 5 581 .4 583 .8 5 8 6 . 8 5 9 2 . 4

5 9 3 . 9 585 .6 589 .6 5 9 4 . 9 5 9 3 . 1 5 9 9 . 5 6 0 2 . 7 6 0 4 . 4 6 1 0 . 0 6 1 5 . 3 6 1 9 . 7 6 2 9 . 3

1 M3 1 M2 PLUS 1 LARGE TIME DEP. , TERM RP f S, EUROS AND

INST ITUTION-ONLY

MMMFfS ~ 3 6 4 . 9

5 6 1 . 5 5 6 5 . 5 570 .6 5 6 9 . 3 575 .4 580 .7 5 8 4 . 5 5 9 0 . 2 5 9 6 . 5 6 0 1 . 9 6 1 0 . 1

6 1 2 . 1 6 0 6 . 3 6 0 9 . 0 6 1 3 . 3 6 0 8 . 9 6 1 2 . 1 610 .7 606 .7 6 0 8 . 1 6 0 9 . 4 6 1 3 . 1 6 1 8 . 3

6 1 8 . 3 6 1 0 . 4 6 1 5 . 8 6 2 4 . 3 6 2 3 . 8 6 2 9 . 1 6 3 7 . 2 643 .6 6 5 2 . 8 660 .6 6 6 6 . 5 6 7 8 . 3 |

i L 1 1 M3 PLUS 1 OTHER 1 LIQUID 1 1 ASSETS

57S72TH 6 7 5 . 9 | 6 8 1 . 1 | 6 8 7 . 3 | 6 8 7 . 5 | 6 9 3 . 1 | 6 9 8 . 9 7 0 5 . 0 7 1 1 . 1 | 7 1 8 . 0 | 7 2 4 . 2 7 3 2 . 0 1

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

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






1 Ml 1 CURRENCY , I TRAVELERS I CHECKS, I DEMAND I DEPOSITS I AND OTHER I CHECKABLE I DEPOSITS ] 2T7 T T " I 219 .7 I 2 2 1 . 1 1 2 2 2 . 3 I 224 .4 1 225 .9 1 2 2 7 . 3 1 2 2 8 . 0 I 228 .9 1 229 .6 I 2 3 0 . 3 I 230 .8

I 232 .6 I 234 .8 1 236 .8 1 2 3 8 . 1 I 2 3 8 . 4 1 2 3 9 . 3 1 2 4 1 . 3 1 2 4 3 . 5 1 245 .8 1 247 .7 1 2 4 9 . 1 ! I 252 .0

1 2 5 4 . 5 1 255 .0 I 254 .4 1 2 5 5 . 5 1 257 .7 | 1 259 .7 I 1 260 .4 ! 1 260 .8 1 260 .9 I 1 262 .0 1 2 6 4 . 0 1 265 .9

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

MMMFS, MMDAS &

SAV & SM. TIME DEP.

53-472" 6 4 2 . 5 6 5 1 . 3 6 6 1 . 2 6 6 9 . 2 674 .9 681 .4 6 8 7 . 5 6 9 4 . 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 8 0 5 . 1

813 .7 817 .8 818 .7 823 .6 830 .6 | 8 3 7 . 3 I 8 4 1 . 2 843 .6 844 .6 i 848 .4 854 .5 861 .0

i M3 M2 PLUS

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

INSTITUTION-ONLY

MMMFfS -~Tff57T~"~ 6 9 5 . 9

7 0 6 . 2 7 1 5 . 2 723 .6 7 3 0 . 3 7 3 8 . 3 7 4 4 . 2 7 5 1 . 8 7 6 0 . 2 7 6 8 . 4 7 7 6 . 2

7 8 3 . 3 7 9 2 . 9 8 0 0 . 3 8 0 9 . 0 8 1 6 . 3 8 2 4 . 8 8 3 5 . 5 846 .6 8 5 6 . 3 865 .7 875 .7 8 8 6 . 0

8 9 5 . 8 9 0 6 . 1 914 .8 9 2 3 . 3 932 .6 i 941 .0 ! 950 .4 9 5 9 . 1 965 .9 972 .0 977 .6 985 .0

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

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

9 1 1 . 0 | 920 .9 | 929 .6 I 938 .6 | 9 4 6 . 1 | 9 5 5 . 1 | 965 .6 | 976 .9 | 987 .0 | 997 .9 |

1010 .7 | 1023 .0 |

1 0 3 4 . 1 | 1045.6 | 1054 .8 | 1064.7 | 1 0 7 6 . 1 | 1 0 8 7 . 1 | 1097 .8 | 1108 .5 | 1117 .5 | 1125 .2 | 1133 .0 | 1141.7 |

1 Ml I CURRENCY , 1 TRAVELERS I CHECKS, 1 DEMAND I DEPOSITS I AND OTHER 1 CHECKABLE [ DEPOSITS T~Tf22T3 1 216 .6 1 218 .6 1 2 2 3 . 7 1 2 2 1 . 1 1 2 2 5 . 2 1 2 2 7 . 5 1 2 2 5 . 9 1 227 .7 1 2 2 9 . 1 1 2 3 1 . 2 1 2 3 6 . 9

! 2 3 7 . 5 1 2 3 1 . 4 1 2 3 4 . 2 1 2 3 9 . 5 1 234 .7 1 2 3 8 . 8 1 2 4 1 . 8 1 2 4 1 . 3 1 2 4 4 . 5 1 2 4 7 . 0 1 2 5 0 . 5 1 1 2 5 8 . 9

1 2 5 9 . 4 i 1 2 5 1 . 2 ! 1 251 .6 ! 1 2 5 7 . 0 1 1 253 .6 I 1 2 5 9 . 3 I 1 2 6 1 . 2 1 1 258 .6 1 1 2 5 9 . 5 1 I 2 6 1 . 4 1 1 265 .7 1 1 2 7 3 . 3 1

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

TIME DEP. "" 636.S

6 3 9 . 5 651 .6 6 6 5 . 4 6 6 8 . 3 6 7 7 . 7 6 8 4 . 3 6 8 5 . 7 6 9 1 . 7 6 9 7 . 7 7 0 3 . 8 7 1 3 . 6

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

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

1 M3 1 M2 PLUS I LARGE ITIME DEP. , ITERM RP f S, 1 EUROS AND I INST ITU-ITION-ONLY 1 MMMFfS

68S75 6 9 2 . 7 7 0 6 . 3 7 1 8 . 9 7 2 2 . 8 7 3 2 . 2 7 3 9 . 9 7 4 3 . 2 7 5 0 . 1 7 5 8 . 4 7 6 5 . 0 7 7 6 . 7

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

8 9 7 . 9 I 901 .8 I 914 .7 I 927 .9 I 931 .7 I 943 .6 I 9 5 3 . 3 | 959 .6 I 9 6 5 . 1 | 9 7 0 . 3 I 9 7 3 . 9 I 9 8 5 . 3 I

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

52iO~~| 8 2 9 . 1 8 3 9 . 9 8 5 0 . 4 | 851 .7 | 8 5 9 . 8 8 6 9 . 0 8 7 3 . 7 1 8 7 9 . 0 8 8 6 . 0 j 8 9 2 . 5 9 0 3 . 5 I

913 .7 9 1 8 . 5 9 3 1 . 1 9 4 3 . 3 9 4 5 . 5 I 9 5 6 . 5 | 966 .4 | 975 .8 | 984 .9 995 .8

1008 .0 1023.7 1

1036.4 I 1042 .5 1056 .2 1 1069.7 I 1075 .2 | 1088 .3 1098.6 1 1107 .8 1115 .8 1123.6 1 1130.7 1142.7 1


TABLE 1 MONEY STOCK MEASURES AND LIQUID ASSETS BILLIONS OF DOLLARS SEASfNALLY ADJUSTED NOT 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 Ml i I CURRENCY , I TRAVELERS 1 CHECKS, I DEMAND I DEPOSITS I AND OTHER I CHECKABLE I DEPOSITS 1 268.3 1 269.8 I 270.1 1 270.6 1 271.7 1 272.4 273.1 ! 274.1 275.3 276.8 277.5 1 277.3 1 278.1 1 280.1 279.7 282.5 286.3 286.8 288.3 289.1 288.7 291.4 291.1

292.4 294.6 295.8 297.8 299.8 299.7 300.8 302.8 303.5 306.9 i 307.5 310.4 !

1 M2 1 1 Ml + OVER-I NIGHT RPfS 1 AND EUROS, ! G/P & B/D 1 MMMFS, I MMDAS & ! SAV & SM. 1 TIME DEP. 1 870.3 1 876.5 I 879.2 1 881.5 1 884.8 ! 888.3 891.1 895.1 900.1 905.5 908.4

912.4 920.1 931.3 941.4 954.4 969.4 981.2 989.7 998.4 1004.6 1014.8 1023.1 1034.0 1047.8 1056.8 1068.3 1082.0 1086.3 1095.5 1108.8 1120.6 1135.8 1148.5 1163.6

1 M3 1 1 M2 PLUS 1 LARGE [TIME DEP., ITERM RP'S, I EUROS AND I INSTITUTION-ONLY I MMMFfS r T 9 3 T 2 I 1002.6 I 1010.8 1 1021.0 1 1029.6 1 1038.0 ! 1044.2 1048.5 1053.3 1059.0 1064.3 1070.4 1075.7 ! 1082.8 ! 1090.4 1096.0 1106.6 1118.9 1128.2 1135.0 1145.8 1153.8 1165.1 1172.2 1182.3 1194.1 1204.2 1216.5 1229.0 1236.1 1246.4 1258.7 1268.4 1282.2 1295.0 1311.8

L 1 M3 PLUS 1 OTHER | LIQUID 1 ASSETS I

1T5Z .T~T 1165.1 I 1175.3 I 1186.4 | ! 1195.6 | 1205.5 | 1213.2 | 1220.7 | 1228.7 | 1236.3 | 1242.2 I 1249.2 I 1253.8 | 1259.2 | 1267.1 | 1274.4 | 1286.8 | 1299.4 I 1309.5 | 1319.9 | 1332.4 | 1342.8 | 1357.9 | 1366.6 | 1379.2 | 1393.4 | 1403.5 | 1415.6 | 1429.7 | 1439.5 | 1451.8 | 1462.9 | 1471.1 I 1487.2 | 1500.2 | 1515.9 |

1 Ml 1 CURRENCY , 1 TRAVELERS 1 CHECKS, I DEMAND 1 DEPOSITS I AND OTHER I CHECKABLE I DEPOSITS T~"271.8 1 264.1 1 266.5 1 271.6 1 266.3 I 271.5 1 273.5 1 271.0 1 272.6 1 274.8 1 278.8 1 285.2 I 281.8 I 273.3 1 276.4 1 281.4 1 278.0 1 286.0 1 288.0 1 286.3 1 287.8 1 288.5 1 293.5 1 299.0 1 296.8 1 289.0 1 291.4 1 299.9 1 295.1 1 299.4 1 302.3 1 301.0 1 302.5 1 307.0 1 309.7 1 318.6

1 M2 1 Ml + OVERNIGHT RP'S AND EUROS, G/P & B/D MMMFS, MMDAS & SAV 8 SM. TIME DEP. ~ g-SFTtr 865.8 876.4 884.8 880.1 888.8 893.1 890.1 892.0 897.2 902.6 909.6

913.4 914.9 930.6 947.4 952.8 973.3 986.3 989.0 995.7 1002.5 1012.0 1024.3 1034.9 1041.5 1055.3 1074.9 1080.0 1089.8 1100.7 1108.2 1118.8 1134.9 1145.7 1164.9

M3 M2 PLUS LARGE TIME DEP., TERM RP'S, EUROS AND INSTITUTION-ONLY MMMF'S ~ n g w r 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 1105.2 1121.6 1132.2 1135.9 1144.8 1152.1 1162.0 1173.8 1183.5 1187.2 1202.6 1222.1 1227.1 1238.4 1250.5 1259.1 1267.3 1281.1 1292.5 1314.2

1 L 1 M3 PLUS OTHER j LIQUID ASSETS |

1154.3 T 1161.2 1176.1 1191.5 | 1194.5 | 1206.3 1214.3 1 1220.5 | 1227.3 1235.2 1240.4 1 1250.5 | 1255.5 1254.4 1267.0 1279.8 1285.4 1300.5 1311.3 1 1319.1 1330.1 1341.5 1 1356.5 1369.1 1381.2 1388.1 j 1403.5 1422.1 1428.1 1440.0 1453.4 1 1461.4 | 1468.5 1486.1 1498.9 1519.0 1



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...

1 Ml 1 CURRENCY , TRAVELERS CHECKS, DEMAND DEPOSITS AND OTHER CHECKABLE DEPOSITS ~ "31373 ~ 315.5 317.4 320.0 320.5 322.1 324.6 326.2 328.4 331.5 333.2 335.3 338.8 339.3 340.8 344.3 347.6 350.0 352.0 353.6 357.6 358.7 360.5 363.0 363.2 364.4 367.2 372.1 372.4 377.4 381.2 383.8 386.2 387.1 387.6 388.7

M2 1 Ml + OVERNIGHT RPfS AND EUROS, G/P & B/D MMMFS, MMDAS 8 SAV 8 SM. TIME DEP. 1188.3 1199.3 1211.2 1221.7 1230.3 1241.2 1249.9 1259.7 1269.5 1277.9 1286.6 1296.2 1301.2 1308.3 1316 8 1325.9 1333.4 1341.9 1349.3 1362.4 1371.6 1379.0 1388.9 1395.1 1401.9 1 1411.9 1 1425.4 1433.6 1448.3 1460.5 1469.8 1481.5 1487.1 1490.1 ! 1497.5

M3 M2 PLUS LARGE TIME DEP., TERM RP'S, EUROS AND INSTITUTION-ONLY MMMFS ~~i5237r~" 1335.6 1347.9 1360.7 1374.7 1387.5 1402.1 1414.5 1428.3 1443.6 1458.3 1472.6

1487.1 1497.8 1512.6 1527.6 1543.1 1554.8 1569.3 1582.5 1598.4 1612.6 1630.8 1646.4 1657.7 1669.1 i 1682.5 ! 1697.0 1707.6 1726.2 1744.2 1759.6 1782.3 1794.6 1796.1 1803.2

L 1 M3 PLUS 1 OTHER | LIQUID I ASSETS I

"~T529.4 T 1544.9 | 1559.4 | 1574.6 I 1589.6 | 1604.2 I 1621.5 1 1637.0 I 1652.7 I 1670.1 | 1687.4 I 1704.1 I 1722.0 | 1734.9 | 1749.9 | 1766.7 | 1782.9 I 1795.6 I ! 1812.0 | 1 1827.9 | 1847.2 I 1864.1 I 1886.8 | 1909.0 I 1923.1 | 1937.9 I 1 1958.8 I 1 1980.1 I 1997.9 I 2027.0 I 1 2047.4 1 2062.7 I 2089.0 I 2102.7 | 2105.3 | 1 2114.8 I

1 Ml 1 CURRENCY , I TRAVELERS I CHECKS, I DEMAND I DEPOSITS I AND OTHER I CHECKABLE J DEPOSITS T 317.7 "" 1 309.0 1 312.2 1 322.7 1 315.6 I 321.7 I 326.3 I 324.3 I 327.7 1 332.0 1 335.5 1 344.1 1 343.4 I 331.9 1 334.9 1 347.5 I 342.4 1 349.4 1 353.9 1 351.8 1 357.0 1 359.4 1 362.9 1 372.5 I 367.8 1 356.4 I 360.8 I 376.2 1 367.1 1 376.7 1 383.3 1 381.9 1 385.7 1 387.7 1 389.8 1 398.3

1 M2 1 Ml + OVERNIGHT RP'S AND EUROS, G/P & B/D MMMFS, MMDAS & SAV 8 SM. TIME DEP. TT77:9~ 1180.8 1196.8 1218.3 1219.0 1232.9 1246.2 1249.5 1259.0 1270.2 1275.8 1288.8 1297.4 1292.5 1304.7 1323.8 1322.0 1334.8 1346.7 1349.3 1362.5 1373.6 1377.8 1392.3 1396.8 1391.9 1407.3 i 1432.6 1428.6 1448.6 1465.1 1470.4 1482.0 1489.8 1489.7 ! 1501.5

1 M3 M2 PLUS LARGE TIME DEP., TERM RP'S, EUROS AND INSTITUTION-ONLY MMMFfS 1323.T~ 1328.2 1345.8 1366.8 1371.9 1388.8 1405.8 1414.6 1427.4 1443.4 1456.9 1476.8 1489.3 1490.1 1510.2 1533.4 1539.1 1554.1 1571.7 1582.4 1597.4 1613.0 1630.9 1652.9 1660.6 1661.6 1680.0 1703.1 1702.9 1723.7 1745.1 1759.8 1781.1 1795.3 1797.0 1810.6

1 L 1 M3 PLUS 1 OTHER LIQUID 1 ASSETS

"1531.6 | 1539.1 | 1558.9 | 1582.0 | 1587.7 1604.2 1 1623.0 | 1635.0 | 1649.9 1669.2 | 1686.6 1708.9 1 1725.2 | 1729.0 1749.5 1774.1 1780.3 1794.1 1 1812.1 1825.2 1844.0 1863.2 1 1886.9 | 1915.6 1927.4 1 1932.9 1959.0 1 1988.2 1995.2 | 2024.0 2045.2 2059.0 2084.8 | 2101.5 2105.9 2122.5 1



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 1 CURRENCY , I TRAVELERS I CHECKS, 1 DEMAND 1 DEPOSITS I AND OTHER 1 CHECKABLE I DEPOSITS I 37T7T I 394.7 1 394.2 1 387.8 1 388.2 1 393.5 1 398.0 1 406.0 1 411.4 1 416.1 1 418.4 1 414.2 1 416.5 1 418.8 1 423.1 1 430.4 1 428.0 1 427.7 1 429.8 1 432.7 1 433.1 1 434.4 1 437.5 1 441.1 1 448.7 1 446.1 I 446.5 1 450.3 1 450.4 1 450.7 1 451.6 1 456.7 I 462.6 1 470.9 1 477.0 1 479.9

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

MMMFS, MMDAS 8 SAV 8 SM. TIME DEP.

T5U7 72~"'~ 1520.5 1526.5 1522.1 1531.9 1552.2 1572.8 1589.0 1603.1 1615.8 1629.2 1630.3 1639.6 1651.6 1669.3 1689.9 1696.4 1705.6 1717.6 1733.6 1744.6 1758.8 1775.8 1792.8 1812.2 1815.6 1826.0 1838.2 1850.8 1861.8 1874.4 1892.6 1908.7 1923.7 1937.7 1952.6

1 M3 M2 PLUS LARGE

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

TION-ONLY MMMFfS 1838.0 1846.1 1846.5 1859.0 1878.9 1901.1 1918.0 1931.5 1949.8 1972.4 1987.4 2012.8 2031.0 2048.1 2073.1 2089.8 2107.4 2131.6 2151.0 2171.8 2192.6 2213.1 2233.6 2259.1 2268.0 2285.0 2307.3 2322.3 2340.4 2359.5 2382.9 2401.7 2423.6 2436.0 2443.5

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

jTSjrTj p 2154.8 | 2166.9 | 2175.8 I 2188.9 I 2202.9 | 2220.9 I 2241.7 | 2259.2 I 2277.2 I 2303.6 I 2323.3 I 2352.0 | 2375.1 | 2387.1 | 2407.0 | 2428.9 I 2452.0 | 2477.2 | 2499.3 |

1 2524.5 I 2552.4 | 2576.0 I 2593.7 I

1 2625.6 I 2646.8 I 2664.8 | 2687.4 | 2708.7 | 2729.2 | 2752.4 |

! 2774.0 | 2790.7 | 2818.8 | 2832.9 | 2850.1 |

1 Ml 1 CURRENCY , I TRAVELERS I CHECKS, I DEMAND 1 DEPOSITS I AND OTHER I CHECKABLE I DEPOSITS I 386.0 I 387.5 1 392.3 I 383.0 I 392.8 1 400.2 I 404.0 1 410.5 1 416.6 1 420.7 1 424.1 1 421.1 1 409.9 1 416.6 1 435.6 1 422.8 1 427.1 1 432.1 I 430.3 1 431.7 1 434.4 1 439.7 I 451.4 1 453.5 1 437.1 1 440.2 I 455.6 1 445.4 1 450.5 I 454.0 1 454.2 I 460.6 I 470.5 1 479.1 I 490.9

M2 Ml + OVER-NIGHT RPfS AND EUROS, G/P 8 B/D

MMMFS, MMDAS & SAV 8 SM. TIME DEP.

~nr5TT973 1509.5 1521.7 1529.1 1526.3 1551.9 1577.3 1589.7 1603.0 1618.4 1629.4 1634.8 1642.0 1640.7 1665.1 1697.4 1690.4

1 1705.2 1721.8 1733.8 1743.0 1760.6 1776.4 1797.9

! 1815.4 1 1805.5

1823.1 1 1845.9

1844.8 1861.6

! 1878.5 ! 1891.8 1 1905.0 1 1923.9 1 1938.2 i 1958.6

1 M3 1 M2 PLUS | LARGE I

TIME DEP.,1 TERM RPfS,I EUROS AND I INSTITU- I

TION-ONLY I MMMF'S | IETTJ | 1830.7 i 1843.8 ! 1852.4 1854.1 1875.4 1900.7 1918.0 1930.2 1951.1 1974.2 1995.1 2016.6 2024.4 2046.1 2079.5 2084.7 2103.3 2129.3 2150.8 2169.5 2193.4 2215.7 2242.3 2263.3 2261.6 2283.7 2313.3 2317.4 2336.9 2356.3 2382.0

I 2398.5 2423.7

! 2439.2 2453.3

1 L 1 M3 PLUS 1 OTHER LIQUID ASSETS

2138.1 | 2150.7 2168.0 2184.0 1 2186.2 2199.0 1 2217.1 2237.3 2254.7 2276.4 2304.8 2331.4 2358.4 1 2372.0 1 2389.0 2415.1 2424.9 2447.6 2471.7 1 2495.1 2519.1 2551.3 2577.9 2602.9 2631.3 2642.3 j 2666.8 2694.7 2703.1 2726.6

! 2748.3 1 1 2771.5 | 1 2787.1 | 1 2819.2 I 2835.7 1 2856.4 I



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... 1985 JAN...

FEB...| MAR...1 APR...! MAY...| JUN...| JUL...| AUG...1 SEP...| OCT...| NOV...| DEC...|

1 Ml 1 CURRENCY , I TRAVELERS I CHECKS, I DEMAND I DEPOSITS I AND OTHER I CHECKABLE 1 DEPPS I IS. 483.6 489.1 494.9 498.6 505.0 508.7 513.8 516.8 519.1 523.9 525.6 527.1 530.7 533.3 536.5 539.0 542.1 546.1 546.0 547.3 550.7 549.6 554.2 558.5 562.9 569.3 | 572.2 1 575.7 | 582.5 | 590.9 | 596.2 | 604.8 I 611.5 | 614.1 | 620.0 | 626.5 |

1 M2 1 Ml + OVER-I NIGHT RP'S I AND EUROS, I G/P 8 B/D I MMMFS, I MMDAS & I SAV & SM. 1 TIME DEP. 2007.1 2044.7 2061.5 2078.2 2094.5 2108.1 2120.4 2129.7 2142.2 2163.2 2176.1 2186.0 2199.5 2215.8 2227.4 2242.6 2256.5 2268.5 2277.5 2291.8 2309.8 2323.6 2348.3 2373.8 2399.9 | 2421.8 | 2429.4 | 2434.4 | 2451.9 | 2479.0 | 2496.1 | 2515.4 | 2529.5 | 2538.3 | 2550.6 | 2565.5 |

1 M3 1 M2 PLUS 1 LARGE ITIME DEP., ITERM RPfS, 1 EUROS AND 1 INSTITU-ITION-ONLY MMJjF'S "2477.3 2506.1 2523.4 2543.2 2559.5 2581.5 2599.1 2613.0 2632.6 2652.4 2679.5 2697.3 2716.2 2740.6 2764.6 2789.8 2814.9 2837.5 2862.1 2878.8 2901.7 2926.3 2955.7 2986.6 3013.5 3033.8 I 3046.6 ! 3052.2 ! 3070.3 | 3098.7 | 3113.9 | 3132.7 | 3153.1 I 3166.1 | 3180.8 | 3199.1 |

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

1 __J. ! 2887.4 | 2916.7 | 2938.9 I 2966.8 I 2985.6 | 3009.1 | 3039.7 I 3059.9 | 3080.5 | 3098.5 | 3127.9 | 3163.5 I

3189.2 | 3216.3 | 3253.5 | 3287.3 | 3321.5 | 3356.0 | 3390.6 | 3416.3 | 3450.9 | 3473.9 | 3499.0 || 3532.3 | 3557.6 | 3583.8 || 3612.7 || 3618.7 || 3636.9 || 3665.3 || 3684.2 || 3713.3 || 3743.4 || 3762.7 || 3799.6 ||

1 Ml I CURRENCY , I TRAVELERS I CHECKS, 1 DEMAND 1 DEPOSITS ! AND OTHER I CHECKABLE L..ffiE05IXSL. 488.7 479.7 488.3 504.4 499.7 509.0 516.4 513.9 516.8 523.0 527.6 538.8

536.1 523.2 529.7 544.9 536.6 547.1 549.0 544.6 548.4 548.2 555.9 I 570.5 568.4 | 558.7 | 565.0 | 581.7 | 576.5 | 592.7 | 599.6 | 602.0 | 609.1 | 612.1 | 621.6 | 639.8 |

| M2 1 Ml + OVER-I NIGHT RPfS I AND EUROS, I G/P & B/D I MMMFS, I MMDAS & I SAV & SM. [TIME DEP, 2011.8 2035.7 2060.1 2086.4 2088.0 2108.4 2124.5 2127.3 2136.5 2161.5 2176.0 2192.8 2205.7 2208.0 2227.6 2250.9 2249.4 2269.5 | 2282.0 ! 2288.2 ! 2302.5 1 2320.4 | 2347.3 | 2380.8 ! 2407.3 | 2415.3 | 2430.9 | 2443.1 | 2444.1 | 2480.7 | 2501.0 | 2510.9 | 2521.0 | 2533.7 | 2549.0 | 2573.6 |

1 M3 | M2 PLUS I LARGE ITIME DEP., [TERM RPfS, I EUROS AND I INSTITU-ITION-ONLY MMMf,fS._ 2482.1 2498.9 2522.6 2549.7 2554.2 2579.4 2596.5 2611.1 2627.9 2651.4 2682.7 2707.9

2722.0 2733.1 2764.4 2795.9 2809.3 2836.5 2859.1 2875.7 2896.3 2924.5 2959.3 2997.9 3019.9 i 3026.4 | 3046.9 | 3058.2 | 3064.3 | 3098.6 | 3111.4 | 3128.6 | 3146.6 | 3163.1 I 3184.3 | 3211.8 |

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

|"*28T3.T 1 I 2911.2 | I 2940.9 | 1 2974.2 | 2977.7 | 3007.6 | 3037.0 | 3057.9 | 3076.2 3098.4 1 3130.8 | 3170.1 |

3194.7 1 3209.7 | 3256.2 | 3294.4 3311.5 1 3355.5 3389.1 3414.9 j 3447.4 | 3473.5 | 3501.9 | 3537.5 | 3562.8 3581.9 3616.1 3626.2 1 3625.2 3665.6 1 3684.2 3711.9 1 3739.7 | 3761.1 3801.8 |


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

1959 JAN... FE. .. MAR... APR... MAY... JUN... JUL... AUG... SEP... OCT... MOV... DIC...


1961 JAN... FEB MAR... APR...I MAY...! JUN...| JUL... AUG...1 SEP... OCT... NOV... DEC...

CURRENCY

" 2877 28. a 28.8 28.8 28.9 29.1 29.0 29.1 29.0 29.0 29.0 29.0 29.0 29.0 29.0 29.0 29.0 29.0 28.9 29.0 29.0 29.0 29.0 28.9 28.9 28.9 28.9 28.9 | 28.9 I 28.9 1 29.0 ! 29.1 1 29.2 29.4 29.4 29.5

NONBANK TRAVELERS CHECKS 075 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 1 0.4 0.4 0.4 0.4 0.4 0.4

DEMAND DEPOSITS

110.7 111.2 111.5 111.4 112.3 112.7 113.2 113.4 112.5 112.1 112.0 111.6 111.7 111.6 111.5 111.2 111.3 111.3 111.9 113.0 112.9 112.7 112.6 112.5 112.9 113.5 113.8 114.0 114.6 114.8 114.8 115.2 115.4 115.7 116.2 116.5

_ _ 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 0.0

NONTRANSACTION COMPONENTS I IN M2

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

IN M3 ONLY 27T~ 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

COMMER-CIAL 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 55.5 56.0 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 INSTITU-TIONS 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 99.8 100.8 101.5 102.4 103.4 104.1 104.9 106.1 106.7 107.6 108.6 109.2 110.2 111.3

TOTAL

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

SMALL TIME DEPOSITS T AT


AT THRIFT INSTITU-TIONS

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 3.7

TOTAL |

11.7 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 14.4 14.7 15.0 15.4 15.5 14.9 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...


I CURRENCY

1 29.6 1 29.7 1 29.8 I 30.0 I 30.0 1 30.1 1 30.2 1 30.2 I 30.3 1 30.4 1 30.5 I 30.6 1 30.7 I 30.9 1 31.0 1 31.2 I 31.3 I 31.5 I 31.7 I 31.8 I 32.0 1 32.1 I 32.3 1 32.5 I 32.6 1 32.7 I 32.9 I 33.0 I 33.2 I 33.5 I 33.5 1 33.7 1 33.9 I 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

116.5 116.9 117.1 117.3 117.7 117.5 117.2 117.3 117.0 117.3 117.8 118.2 118.5 119.0 119.1 119.4 120.0 119.9 120.7 120.9 120.9 121.4 122.3 121.7 122.1 122.6 122.5 122.7 123.1 123.1 124.3 125.1 125.8 126.3 126.8 127.0

OTHER CHECKABLE DEPOSITS

576 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

NONTRANSACTION COMPONENTS

j IN M2 1 IN M3

| ONLY 191.0 1 576~~ 193.3 | 6.0 195.7 | 6.3 197.9 I 6.5 199.4 | 6.7 201.2 | 7.0 203.1 I 7.1 205.0 | 7.2 207.0 | 7.6 209.2 | 7.9 211.2 | 8.2 213.5 I 8.8 215.6 | 9.1 217.7 1 9.3 219.9 | 9.6 222.2 I 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 | 13.3 241.9 | 13.7 243.6 | 13.8 245.5 | 14.1 247.4 | 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

1 SAVINGS DEPOSITS i AT 1 COMMER-

CIAL BANKS 64.6 65.0 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 i 77.4 i 77.7 78.2 78.6 1 79.1 ! 79.4 79.9 1 80.4 80.9 ! 82.1 82.9

AT THRIFT

INSTITU-TIONS 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 i 145.1 146.1 147.5 149.0 149.9 151.1 152.4

TOTAL

17676 178.0 179.7 181.0 182.4 184.1 185.5 187.0 188.8 190.3 192.7 194.8 196.3 198.1 200.1 201.6 203.3 ! 205.2 i 206.5 207.9 i 209.5 | 210.3 i 212.6 214.4 ! 215.6 I 217.2 ! 218.9 220.3 ! 222.1 I 224.1 | 225.5 ! 227.4 1 229.4 | 230.8 | 233.2 235.2 1

1 SMALL TIME D E P O S I T S T 1 AT ! COMMER-

CIAL 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 1 20.0 1 19.7 19.9 ! 20.1 | 20.3 ! 20.5 1 20.7 | 20.8 I 21.3 | 21.6 I 21.9 ! 22.3 1 22.5 I 22.2 1 22.4 !

I A T I THRIFT IINSTITU-i TIONS 1 378~" 1 3.8 1 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 1 5.5 ! 5.6 5.7 ! 5.8 I 5.8 ! 5.9 | 5.9 1 6.0 | 6.1 | 6.2 I 6.3 I 6.4 | 6.5 | 6.7 | 6.8 |

I TOTAL |

! 15.6 ! 16.5 1 17.4

18.1 18.2 18.6 18.9 19.2 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 28.9 29.2



T?5JAN... FEB... MAR... APR... MAY... JIM... JUL . . . AUG... SEP... OCT... NOV... DEC...

1966 JAN... FE8... MAR... APR... HAY... JIM... JUL... AUG... SEP... OCT... NOV... DEC...

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

CURRENCY

3475 34.6 34.7 34.7 34.9 35.0 35.2 35.4 35.7 35.9 36.2 36.3 36.6 36.8 36.9 37.1 37.3 37.4 37.6 37.8 37.9 38.0 38.2 38.3 38.6 38.8 38.9 39.0 39.2 39.3 39.4 39.6 39.8 40.0 40.1 40.4

NONBANK TRAVELERS CHECKS 575 0.5 0.5 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 0.6 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


oTT 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 COMPONENTS IN M2

265.5 268.0 270.0 271.9 273.8 276.1 278.2 280.5 282.7 285.1 287.6 289.8 291.6 293.3 294.8 295.9 297.1 297.7 298.9 300.2 301.7 303.1 304.4 306.3 308.3 310.2 312.8 316.2 319.7 323.1 326.5 329.6 332.3 335.0 556.9 339.2

1 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 23.2 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 |


AT THRIFT INSTITU-TIONS 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

TOTAL

236.9 238.8 240.7 242.1 243.7 245.7 247.0 248.8 250.8 252.3 254.8 256.9 257.6 258.3 258.1 256.0 255.1 254.7 254.3 253.2 253.1 252.2 252.6 253.1 252.7 252.9 253.9 255.1 256.7 258.3 259.5 260.8 262.0 262.6 263.4 263.7

SMALL AT

COMMER-CIAL 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

1 49.3 49.7 50.7

. TIME DEPOSITS T AT

THRIFT INSTITU-TIONS

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

1 24.6 25.7 27.1

TOTAL |

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

1 72.0 1 73.9 1 75.4 1 77.8



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...|

1 1 I CURRENCY 1 1 1_ 1 4T7I 1 40.8 1 41.0 1 41.4 1 41.5 1 41.8 1 42.0 I 42.3 1 42.6 1 42.8 1 43.1 I 43.4

43.6 1 43.9 1 44.1 44.2 44.4 44.7 44.9 45.1 45.3

45.6 45.9 46.1 | 46.4 | 46.5 | 46.7 | 46.9 | 47.3 | 47.6 | 47.9 | 48.1 | 48.4 | 48.6 | 48.8 | 49.2 |

I NONBANK I TRAVELERS I CHECKS 1 077 I 0.7 I 0.7 I 0.7 I 0.7 I 0.7 1 0.7 1 0.7 1 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 |

I DEMAND I DEPOSITS

I 144.5 I 145.0 I 145.6 I 146.4 1 147.7 I 148.8 I 149.7 1 150.7 1 151.2 1 152.4 1 154.0 |

155.1 I 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 1

1 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 |

1 NONTRANSACTION 1 COMPONENTS 1 \ I IN M2 1 IN M3 | | ONLY 1 341.3 | 33.1 I 343.5 I 33.3 | 345.4 | 33.7 | 347.3 | 33.2 1 349.0 I 33.3 I 351.2 | 33.3 I 353.5 | 35.0 I 356.1 I 36.6 1 359.1 1 37.2 ! 362.0 | 38.6

364.2 I 39.2 366.9 | 39.9 368.7 I 38.8 370.3 | 37.2 372.0 | 36.1 373.3 | 35.4 373.8 | 35.0 375.1 | 33.6 376.1 I 30.7 376.9 I 28.0 378.2 | 26.7 378.9 | 25.7 381.4 | 26.1 383.7 | 25.5 I 383.1 I 24.0 | 381.4 | 24.7 | 381.5 | 26.3 | 382.3 I 29.7 | 384.8 | 30.7 | 387.6 | 30.2 | 390.4 | 35.3 | 394.1 I 38.8 | 398.5 | 42.0 | 402.7 | 44.6 | 406.5 | 46.9 | 411.5 | 49.3 |

1 SAVINGS DEPOSITS J 1 AT I COMMER-I CIAL j BANKS I 9473 I 94.5 I 94.7 I 94.8 I 94.8 I 94.8 I 94.7 1 94.9 1 95.2 95.4

95.8 96.1 96.1 95.9 95.7 95.3 95.0 94.8 94.1 93.9 93.9 93.8 93.8 ! 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 |

r ~AT I THRIFT I INSTITU-1 TIONS 1 168.9 I 169.0 I 169.6 I 169.5 1 169.7 I 170.1 I 169.9 I 170.3 1 171.3 171.3 !

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 |

j 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 i 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 |

I SMALL TIME DEPOSITS T AT COMMER

CIAL 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 i 65.1 ! 66.0 I 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-1 TIONS 1 28.1 I 29.4 1 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 1 44.2 ! 45.3 | 46.7 | 47.7 | 48.8 | 49.4 | 52.2 I 55.5 | 58.8 | 61.7 | 63.3 | 65.3 | 66.9 | 68.1 I 69.3 | 70.6 | 71.8 |

I TOTAL |

h 79.8 1 82.2 I 83.4 1 84.9 1 86.5 1 88.2 1 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



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

Jim... JUL... AUG... SEP... OCT... NOV... DEC... 1973 JAN... FEB... MAR APR...! MAY...1 JUN...! JUL...1 AUG...I SEP...1 OCT...! NOV...I DEC... I

I CURRENCY

5975 1 49.8 ! 50.0 50.3 ! 50.6 51.0 51.5 51.8 52.1 52.3 52.4 52.6 53.0 53.2 53.5 53.6 54.0 54.3 54.6 54.9 55.4 55.8 56.3 56.8 57.2 57.5 57 .9 58.4 I 58.8 I 59.3 1 59.5 j 59.9 I 60.3 ! 60.6 61.0 61.6 I

I NONBANK [TRAVELERS 1 CHECKS T75 ! 1.0 1.0 1.0 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.2 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

I DEMAND [DEPOSITS

I 167.2 I 168.8 ! 169.9 1 170.8 1 172.6 173.6 174.5 ! 174.9 I 175.6 ! 176.1 176.5 176.9 178.3 180.2 181.9 183.1 183.0 183.6 185.4 187.2 189.0 190.4 191.3 193.7 195.8 195.8 194.9 195.4 197.2 I 198.7 199.2 1 199.2 | 198.9 199.6 201.2 202.4

OTHER CHECKABLE DEPOSITS 1 "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 I 0.3 ! 0.3 0.3 0.3 0.3 0.3

1 NONTRANSACTION S CQMPONENTS IN M2

1 416.5 422.8 430.2 438.8 444.8 449.0 454.1 459.5 465.5 470.8 476.7 481.9 487.2 493.2 498.9 503.7 508.0 513.4 521.0 528.3 535.1 541.7 547.5 553.2 559.2 562.8 564.3 568.1 | 572.9 I 577.6 ! 580.7 1 582.8 583.6 586.4 590.5 595.1 |

IN M3 ONLY 50.9 53.4 54.9 54.0 54.4 55.4 56.9 56.7 57.3 59.7 61.5 63.5 63.5 64.9 64.6 67.3 70.0 72.1 73.1 74.8 75.4 76.2 79.0 80.9 82.1 88.4 96.1 99.7 101.9 103.7 109.2 115.5 121.3 123.6 123.2 124.0

I SAVINGS DEPOSITS ! AT COMMER-! CIAL I BANKS ! 99.7 101.2 103.3 105.2 106.1 106.9 107.6 108.6 109.7 110.7 111.7 112.8

114.1 115.4 116.3 117.0 117.4 118.3 119.3 120.9 122.3 123.2 124.0 124.8 125.0 124.7 124.5 124.6 i 125.3 126.0 126.3 126.1 126.3 127.0 127.6 128.0

AT THRIFT INSTITUTIONS 163.8 164.9 166.1 167.6 169.6 171.4 173.2 174.8 176.2 177.5 178.5 179.4 180.6 181.8 183.2 184.3 185.3 186.7 188.4 190.2 191.8 193.4 195.1 196.6 197.7 198.4 199.1 199.4 1 199.8 1 200.7 201.1 1 199.8 198.5 198.5 198.2 198.8

TOTAL

263.5 266.1 269.5 272.8 275.7 278.2 280.7 283.4 285.9 288.2 290.2 292.2 294.6 297.2 299.5 301.3 302.7 305.0 307.7 311.2 314.1 316.6 319.1 321.4 322.7 323.1 323.6 323.9 325.1 326.6 327.4 325.9 324.9 325.5 325.8 326.7

I SMALL TIME DEPOSITS T ! AT COMMER-! CIAL | BANKS 80.2 82.0 83.8 86.0 87.3 88.1 89.1 90.1 91.3 92.1 93.8 94.7

95.5 96.5 97.7 97.8 98.4 99.6 101.9 103.3 104.8 106.1 107.0 108.2 110.3 110.8 110.6 112.0 113.3 114.4 114.4 116.0 114.3 113.5 115.2 116.8

AT THRIFT INSTITUTIONS 73.6 75.5 77.8 80.0 81.7 83.2 84.9 86.7 88.6 90.7 92.8 95.0 97.4 99.8 101.9 104.0 106.3 108.5 111.0 113.6 116.1 118.9 121.4 123.4 125.9 128.2 129.4 131.2 133.5 135.6 137.2 139.4 142.1 144.3 146.8 149.0

TOTAL |

153.9 157.5 161.6 165.9 169.0 171.3 174.0 176.8 180.0 182.8 186.6 189.7 193.0 196.3 199.7 201.8 204.8 208.1 212.9 216.9 220.9 225.0 228.4 231.6 236.2 239.0 240.0 243.1 246.8 250.0 251.6 255.4 256.4 257.8 262.0 265.8



1974 J A N . . . F E B . . . MAR... A P R . . . MAY... JUN. . . J U L . . . AUG. . . S E P . . . O C T . . . NOV. . . D E C . . .

1975 J A N . . . F E B . . . MAR... A P R . . . MAY... J U N . . . J U L . . . AUG. . . S E P . . . O C T . . . NOV. . . D E C . . .

1976 J A N . . . F E B . . . MAR.. . ! A P R . . . | MAY. . . | JUN. . . | J U L . . . | AUG. . . | S E P . . . | O C T . . . | N O V . . . | D E C . . . |

I CURRENCY

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

6 6 . 7 6 7 . 4 6 7 . 9

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

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

I NONBANK [TRAVELERS 1 CHECKS

1 ~T75 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 . 0 2 . 1 2 . 1 2 . 2 I 2 . 2 ! 2 . 2 i 2 . 3

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

1 DEMAND DEPOSITS

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

1 OTHER 1 CHECKABLE IDEPOSITS

073 1 0 . 3 1 0 . 4 1 0 . 4 1 0 . 4 1 0 . 4 1 0 . 4 1 0 . 4 1 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 i 1 . 2 ! 1 . 4 | 1 . 5 | 1 .7 I 1 . 8 | 2 . 0 | 2 . 2 | 2 . 3 | 2 . 5 | 2 . 7 |

1 NONTRANSACTION 1 COMPONENTS

1 1 IN M2 1 59876 1 6 0 2 . 0 1 6 0 6 . 8 1 6 0 9 . 1 1 6 1 0 . 9 ! 6 1 3 . 1 1 6 1 5 , 8 1 6 1 8 . 0 1 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 . 2 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 . 3 i 7 8 6 . 6 i 7 9 4 . 7 ! 8 0 6 . 0 | 8 1 7 . 1 1 8 2 8 . 9 1 8 4 1 . 0 | 8 5 3 . 3 |

I IN M3 I ONLY

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

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

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

| SAVINGS DEPOSITS

1 AT 1 COMMER-i CIAL i BANKS

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

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

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

1 AT I THRIFT I INSTITU-I TIONS 1 1 9 9 . 0 I 1 9 9 . 0 I 1 9 9 . 5 I 1 9 9 . 7 1 1 9 9 . 3 I 1 9 9 . 1 I 1 9 9 . 2 I 1 9 8 . 8 1 1 9 8 . 8 ! 1 9 9 . 6 1 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 I 2 3 4 . 2 I 2 3 6 . 0 | 2 3 7 . 7 | 2 3 8 . 9 | 2 4 0 . 6 | 2 4 2 . 7 | 2 4 4 . 7 | 2 4 7 . 1 | 2 4 9 . 7 | 2 5 1 . 5 |

I TOTAL

1 327.6 I 3 2 7 . 8 I 3 2 8 . 8 I 3 2 9 . 6 I 3 2 9 . 8 I 3 3 0 . 4 I 3 3 1 . 7 I 3 3 2 . 0 1 3 3 2 . 5 1 3 3 4 . 3 I 3 3 6 . 2 1 3 3 8 . 5

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

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

1 SMALL TIME DEPOSITS T

AT 1 COMMER-! CIAL | BANKS

1 1 7 . 5 1 1 8 . 5 1 2 0 . 2 1 2 0 . 3 1 2 0 . 5 1 2 0 . 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 8 . 1 , 1 3 9 . 0 | 1 4 0 . 4 I 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 . 5 | 1 4 8 . 1 | 1 5 0 . 9 | 1 5 2 . 9 | 1 5 4 . 4 | 1 5 5 . 5 |

1 AT I THRIFT IINSTITU-1 TIONS 1 1 5 0 . 8 I 1 5 2 . 7 I 1 5 4 . 3 I 1 5 5 . 6 I 1 5 6 . 6 I 1 5 8 . 0 1 1 5 9 . 4 I 1 6 0 . 3 I 1 6 1 . 3 1 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 | 2 0 8 . 8 | 2 1 2 . 4 | 2 1 5 . 4 | 2 1 8 . 2 | 2 2 1 . 3 | 2 2 4 . 8 | 2 2 8 . 3 | 2 3 1 . 6 | 2 3 5 . 3 |

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




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 CURRENCY

1 8T73 ! 81.9 I 82.3 I 83.1 I 83.6 I 84.2 I 85.1 I 85.6 I 86.3 I 87.1 I 87.7 I 88.6 I 89.2 I 90.0 I 90.6 I 91.3 I 92.0 I 92.8 I 93.3 I 94.0 I 95.0 1 95.8 I 96 .6 I 97.6 I 98.2 I 98.9 I 99.5 I 100.4 I 100.9 1 101.9 1 102.7 I 103.7 I 104.7 I 105.5 I 105.9 1 106.4

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

226.3 227.8 229.2 230.8 230.8 231.7 233.0 234.0 235.3 237.4 238.4 239.4 242.2 241.8 242.5 245.1 247.5 248.9 250.3 251.2 254.0 254.1 253.7 253.5 251.3 250.9 251.8 255.1 254.0 257.2 259.5 260.4 261.3 261.2 261.1 261.1


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

10.2 11.1 12.3 13.0 13.8 14.6 15.4 16.1 16.5 16.7 16.9 17.4

NONTRANSACTION COMPONENTS IN M2

863.9 872.8 881.9 891.1 901.2 908.1 916.6 923.7 931.3 938.0 944.8 951.3 957.4 961.9 967.7 972.5 978.3 983.5 990.0 995.6 1004.8

1012.9 1018.5 1025.9 1031.9 1037.4 1044.7 1053.2 1061.2 1071.0 1079.4 1086.1 1095.3 1100.1 1102.5 1108.8

IN M3 ONLY 146.7 147.3 148.6 149.5 153.0 157.2 160.9 164.7 168.6 174.1 180.4 185.9 191.0 196.6 204.1 210.8 217.2 221.4 227.4 233.2 236.0 241.0 251.8 257.5 262.6 267.2 270.6 271.7 274.0 277.8 283.7 289.8 300.8 307.4 306.0 305.7

SAVINGS DEPOSITS AT COMMER

CIAL BANKS 205.4 207.5 209.4 211.1 212.4 212.7 214.1 216.0 217.1 217.6 218.5 218.6 219.7 219.9 220.2 220.6 221.5 221.7 220.9 221.6 222.6 221.9 219.7 216.4 212.8 210.2 208.5 207.3 206.2 206.5 207.0 207.6 206.5 202.8 197.4 194.9


TOTAL

459.2 463.4 466.3 469.9 472.6 474.3 477.4 481.9 485.1 487.4 490.7 492.2 494.8 496.5 497.5 498.3 499.4 498.1 493.9 494.5 495.6 493.6 489.1 482.0 473.0 466.7 463.1 458.9 455.3 455.9 456.1 457.1 453.0 441.9 429.6 423.9

SMALL TIME DEPOSITS AT COMMER

CIAL BANKS 156.8 158.3 160.2 162.0 163.9 165.4 166.2 166.2 166.1 166.2 166.5 167.5 168.4 169.4 170.2 170.8 171.7 173.1 174.6 175.8 177.9 180.0 182.2 185.2 189.1 191.4 193.9 198.5 202.6 206.4 209.5 213.5 217.2 222.7 231.2 235.8


TOTAL

396.2 401.1 406.5 411.8 417.5 423.0 427.5 431.1 435.2 438.7 442.0 445.7 449.0 451.9 455.4 459.3 463.1 470.1 479.0 485.4 493.5 501.3 511.1 521.5 533.2 543.1 552.3 563.0 570.6 577.3 582.6 589.1 598.8 611.2 627.4 635.3



1980 J A N . . . F E B . . . MAR.. . APR. . . MAY. . . J U N . . . J U L . . . AUG. . . S E P . . . OCT. . . NOV. . . DEC. . .

1981 J A N . . . F E B . . . MAR.. . APR. . . MAY. . . JUN. . . J U L . . . AUG. . . S E P . . . OCT.. . NOV. . . DEC. . .

1982 J A N . . . F E B . . . MAR.. . APR. . . | MAY. . . I J U N . . . I J U L . . . I A U G . . . | S E P . . . | O C T . . . | NOV, . . | D E C . . . |

I CURRENCY

107.4 108 .3 109.0 109 .3 110 .3 111 .2 112 .1 113.5 114 .1 115 .2 116.3 116.7

116.9 117.7 118 .3 119 .3 119.8 120 .1 121.0 121.4 121.6 122 .1 122.9 124 .1

125.0 ! 125 .5 125.9 127 .1 | 128.3 ! 128.9 1 129.7 | 130.6 I 131 .5 I 132.7 i 133 .1 | 134.3 |

I NONBANK I TRAVELERS I CHECKS

1 378 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 .2 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 I 4 .4 i 4 .4 | 4 .3 |

I DEMAND I DEPOSITS

262.2 1 264.5 1 262.9 1 256.4 1 255.2

258.2 260.4 265.4 268.7 271.0 270.6 265.3

251.9 244 .1 242.0 242.2 239.0 236.7 236.2 236.6 235.0 235 .1 234.7 234.6

237.5 233.6 232.2 232 .1 231.5 230.0 229.6 230.9 ! 232.7 235.9 237.5 i 237.9 1

1 OTHER I CHECKABLE 1 DEPOSITS

1 17.7 ! 18 .0

18 .3 1 18 .3 1 18.9

20 .3 21.6 23 .2 24.7 25 .9 27 .5 28 .0

43 .4 52.7 58.6 64.7 65 .0 66.7 68 .4 70 .4 7 2 . 2 72 .9 75.6 78 .0

81 .8 82 .6 84 .0 86.7 86 .2 87 .4 87 .9 90.8 i 94 .0 1 97 .9 i

102.0 | 103.4 |

1 NOTTTRANSACTION 1 COMPONENTS .

1 1 IN M2 1116 .1

1 1125.8 i 1132.3 1 1134.2 ! 1143.7

1158.7 1174.9 1183.0 1191.7 1199.6 1210.7 1216.2

1223 .1 1232.8 1246.2 1259.5 1268.4 1277.9 1287.8 1300.9 1511.5 1324.5 1338.2 1351.8

1363.5 1369.5 1379.5 1388.0 1400.5 1411.1 1422.7 1435.9 ! 1446 .1 1 1452.8 1460.7 i 1472.7 !

I IN M3 I ONLY

I 310.9 ! 317 .4 i 319.7 1 324.5 ! 327 .2

326.8 328 .3 329.0 328 .4 3 3 4 . 1 343 .2 3 5 7 . 1

373 .2 379.4 378.8 383.2 393 .4 401.7 414.0 417 .4 427 .2 433.8 437 .4 440.7

446.9 ! 452 .4 459.0 469 .1 1 471.5 ! 478.6 ! 485 .1 | 490 .3 | 493.0 i 499.9 1 498 .3 | 490.9 I

| SAVINGS DEPOSITS 1 1 AT I COMMER-I CIAL 1 BANKS 1 192.4 1 189 .1

183.8 177 .3

i 176.5 181.0 186.7 191.4 193.2 193.9 193 .1 185.8

177.3 173.3 171.4 171.3 169 .1 166.8 166.2 163.8 161.2 159.2 I 158.9 i 159.0 !

159.6 | 159.0 | 158.8 | 159.0 | 159.0 | 158.8 | 158.3 | 159.4 | 160.6 | 163.5 | 166.5 | 163.7 |

1 AT ~ 1 THRIFT I INSTITU-1 TIONS 1 225 .2

221 .4 216.0 208.6 205 .2 209.6 216.0 223 .3 226 .4 226.0 223.8 215.7

206 .5 202.6 201 .2 202.0 198.9 195.6 195.2 191.6 188.4 | 185.5 ! 185.6 ! 185.8 |

188.2 | 187 .1 | 185.8 | 185.7 | 185.8 | 186 .1 | 185.5 | 186.4 | 187.5 | 193.2 | 197.8 | 194.2 |

1 TOTAL

l 417.6 410.5 399.8 385.9 381.8 390.5 402.8 414.7 419.6 419.9 416.9 401 .4

383.8 375.9 372.6 373 .3 367.9 | 362.4 I 361 .4 i 355.4 | 349.6 | 344.7 | 344 .5 | 344.8 |

347.9 | 346 .1 | 344.6 | 344.7 | 344.8 | 344.9 | 343.8 | 345.8 | 348 .1 | 356.6 | 364 .3 | 357.9 |

I SMALL TIME D E P O S I T S f

1 AT 1 COMMER-! CIAL | BANKS

239.8 245 .5 254.6 266 .5 2 7 0 . 1 269 .0 267.9 266.8 267.8 270 .5 277.6 286.7

296 .3 301.9 306 .2 308.6 312.9 317.9 321 .0 327.7 333.6 340.8 ! 345 .9 I 348 .4 !

350.4 | 356.4 | 363 .2 | 369 .5 | 374.8 | 378 .5 | 384.8 | 387 .3 | 389 .3 | 386.8 | 386 .5 | 380.4 |

I AT I THRIFT I INSTITU-1 TIONS 1 401.5 I 405.3 I 410.9 I 419.2 1 425.0 i 425.2

422.7 420.8 423 .1 425.5 433.5 443.5

452.0 456.4 459.2 458.9 462 .1 466.3 464.7 467.9 471.9 475.8 477.2 476.7 !

474 .1 | 477.4 | 480.7 | 482.9 | 484.6 | 486.0 | 488.9 | 488.9 | 489.7 | 484.3 | 482.6 | 472.4 |

1 TOTAL |

I 641 .3 1 650 .8 I 665 .4 1 685.7 1 6 9 5 . 1 ! 6 9 4 . 1

690.6 687.6 690 .9 696 .0 7 1 1 . 1 730 .2

748 .3 758 .3 765 .4 767 .4 775 .0 784 .2 785.7 795.6 805 .5 816.6 823 .0 8 2 5 . 1

824.6 833.7 843.9 852 .4 859 .4 864 .4 873.7 876 .2 878.9 8 7 1 . 1 869 .0 852.8



1983 J A N . . . F E B . . . MAR... A P R . . . MAY.. . J U N . . . J U L . . . AUG. . . S E P . . . O C T . . . NOV. . . DEC. . .

1984 J A N . . . F E B . . . MAR... A P R . . . MAY.. . J U N . . . J U L . . . AUG. . . S E P . . . O C T . . . NOV. . . D E C . . .

1985 J A N . . . F E B . . . MAR... A P R . . . MAY.. . J U N . . . J U L . . . AUG. . . S E P . . . O C T . . . NOV. . . D E C . . .

I CURRENCY

1 135.5 I 1 3 6 . 8 I 1 3 8 . 1 I 1 3 9 . 4 I 1 4 0 . 5 I 1 4 1 . 4 I 1 4 2 . 4 I 1 4 3 . 1 I 1 4 4 . 6 I 1 4 6 . 0 I 1 4 7 . 2 I 1 4 8 . 3

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

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

NONBANK TRAVELERS

CHECKS

472 4 . 3 4 . 5 4 . 6 4 . 6 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

5 . 3 5 . 3 5 . 4 5 . 5 5 . 5 5 . 7 5 . 8 5 . 9 5 . 9 5 . 9 5 . 9 5 . 9

DEMAND DEPOSITS

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

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

2 4 9 . 0 2 5 1 . 2 2 5 1 . 4 2 5 1 . 8 2 5 5 . 4 2 5 9 . 0 26 0 . 4 2 6 3 . 1 2 6 6 . 4 2 6 6 . 0 2 6 7 . 8 2 7 1 . 5


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

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

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

NONTRANSACTION COMPONENTS

IN M2

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

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

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

IN M3 ONLY

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

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

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

SAVINGS DEPOSITS |

AT COMMER

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

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

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

AT THRIFT

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

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

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

TOTAL

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

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

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

SMALL TIME DEPOSITS T

AT COMMER

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

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

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

AT THRIFT

INSTITUTIONS

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

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

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

TOTAL |

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

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

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


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...I

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

LARGE TIME DEPPS: 1 AT ~~~~~ I COMMERCIAL 1 BANKS I 1.6 1 1.5 1 1.5 1 1.5 1 1.5 1.5 1.5 1.4 1.4 1.3 1.3 1.2 1.2 1.2 1.3 I 1.3 1.3 1.4 i 1.5 I 1.6 | 1.7 I 1.8 i 1.9 ! 2.0 I 2.2 I 2.4 I 2.5 I 2.7 I 2.9 | 3.1 | 3.4 | 3.6 | 3.7 | 3.9 | 4.0 | 3.9 |

1 AT 1 THRIFT 1 INSTITUTIONS 1 0.0 I 0.0 1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1 0.0 | 0.0 | 0.0 I 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 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 1 TOTAL 1 176 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 1.3 1.3 ! 1.4 i 1.5 I 1.6 I 1.7 I 1.8 | 1.9 | 2.0 | 2.2 I 2.4 I 2.5 I 2.7 | 2.9 I 3.1 | 3.4 | 3.6 | 3.7 | 3.9 I 4.0 I 3.9 |

\ SAVINGS I BONDS I 47.7 1 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 i 45.7 I 45.7 i 45.7 ! 45.6 | 45.6 | 45.6 | 45.6 I 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 |

1 SHORT-TERM I TREASURY I SECURITIES I 34.0 I 33.3 i 33.5 34.1 ! 34.9 35.9 37.2 38.3 38.9 39.2 39.3 38.6

39.2 39.6 j 39.6 I 39.3 I 38.9 I 39.1 I 38.9 I 37.7 | 38.1 | 37.9 I 37.2 I 36.7 I 36.9 I 36.5 | 36.1 | 36.2 | 36.1 | 35.9 | 36.2 | 35.9 | 35.7 | 36.1 | 36.6 | 37.0 1

I BANKERS I ACCEPTANCES

o 1 0.6 1 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 1.1 1

I COMMERCIAL I PAPER 371 1 3.2 ! 3.3 3.3 3.4 3.5 3.5 3.6 3.6 3.7 3.7 3.6 3.9 4.1 4.3 4.4 4.5 4.7 4.8 4.9 4.9 5.0 5.1 5.1 5.1 5.0 5.0 5.0 5.0 4.9 5.0 4.9 4.9 5.0 5.0 5.2




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

1964 JAN... FEB... MAR...i APR... MAY...! JUN...I JUL...I AUG...I SEP... I OCT...| NOV. . . I DEC...I

1 LARGE TIME DEPPS] 1 AT 1 COMMERCIAL 1 BANKS 1 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 I 12.9 | 13.2 I 13.5 I 13.9 I 14.5 I 14.9 1 15.2 I

1 AT I THRIFT 1 INSTITUTIONS I 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 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 i 0.0 0.0 0.0 0.0 1 0.0 j 0.0 ] 0.0 i 0.0 I 0.0 1 0.0 1 0.0

:TS 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 12.0 12.5 12.9 13.2 13.5 13.9 14.5 14.9 15.2

1 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

i SHORT-TERM ! TREASURY ! 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 38.6 39.4 39.4 39.0 38.5

1 BANKERS 1 ACCEPTANCES 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 1.3

COMMERCIAL | PAPER | 574 1 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 I



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

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

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

1 LARGE TIME DEPPS! 1 AT I COMMERCIAL 1 BANKS 1 l5T9 I 16.4 1 16.6 1 17.0 1 17.3 1 17.9 1 18.5 1 19.1 1 19.8 1 20.6 1 20.8 21.2 21.4 21.4 21.8 23.0 23.6 24.1 25.1 25.1 I 24.9 | 23.7 | 22.6 ! 23.1 i 25.3 | 27.1 | 28.1 | 28.3 I 28.3 | 28.9 | 29.3 | 29.6 | 30.1 | 30.0 | 30.6 | 30.9 |

1 AT 1 THRIFT 1 INSTITUTIONS 1 oTo 1 0.0 1 0.0 1 0.0 I 0.0 1 0.0 1 0.0 1 0.0 1 0.0 1 0.0 0.0 0.0 0.0 0.0 ! 0.0 ! 0.0 I 0.0 I 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 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 1 TOTAL 1 1579 1 16.4 I 16.6 ! 17.0 i 17.3 17.9 18.5 19.1 19.8 20.6 20.8 21.2

21.4 21.4 1 21.8 1 23.0 1 25.6 1 24.1 I 25.1 1 25.1 1 24.9 1 23.7 I 22.6 I 23.1 I 25.3 I 27.1 I 28.1 I 28.3 I 28.3 I 28.9 | 29.3 I 29.6 I 30.1 | 30.0 | 30.6 | 30.9 |

I SAVINGS 1 BONDS 1 4971 I 49.2 49.2 49.3 49.3 49.4 49.5 49.5 49.5 49.6 49.6 49.6

49.7 49.7 49.7 49.8 49.8 49.9 50.0 50.0 50.1 i 50.1 | 50.1 I 50.2 I 50.2 | 50.3 I 50.4 | 50.5 I 50.6 | 50.6 | 50.7 | 50.8 | 50.9 | 51.0 | 51.1 | 51.2 |

1 SHORT-TERM I TREASURY I SECURITIES 1 3875 I 38.1 I 38.6 I 39.0 I 39.6 I 40.3 I 40.7 I 40.7 I 40.4 I 40.2 1 40.7 1 40.7 1 41.3 41.6 41.4 41.5 42.0 42.1 41.1 40.1 40.4 i 42.3 | 43.8 I 43.2 I

41.6 | 40.4 | 39.8 | 38.7 | 37.2 | 36.2 | . 35.7 | 36.4 | 37.0 | 37.6 | 38.3 | 38.7 |

I BANKERS I ACCEPTANCES 1 T73 I 1.3 1 1.5 1 1.5 1 1.5 1 1.4 1 1.4 1 1.5 1 1.5 1 1.5 1 1.5 1 1.6 ! 1.6 1.6 1.6 1.6 1.6 1.6 1.7 1.8 1.8 1 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 |

I COMMERCIAL I PAPER 1 972 1 9.1 I 9.2 1 9.4 1 9.7 I 9.8 1 10.0 1 10.2 I 10.2 1 10.3 1 10.4 1 10.2 1 10.3 10.5 I 10.8 | 11.2 11.4 11.4 11.8 12.5 12.7 I 12.8 I 13.6 I 14.4 I

15.1 | 15.5 | 16.0 | 16.5 | 16.8 | 17.1 | 17.0 | 17.0 | 17.1 | 17.2 | 17.2 | 17.8 I



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


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

i LARGE TIME DEPPS] 1 AT 1 COMMERCIAL 1 BANKS 1 30.7 1 30.9 1 31.4 1 30.8 I 30.6 1 30.4 1 31.9 1 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 1 44.4

1 AT 1 THRIFT ! INSTITUTIONS I 0.0 1 0.0 1 0.0 ! 0.0 i 0.0 1 0.0 1 0.0

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

:TS 1 TOTAL

3077 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 19.1 19.3 20.7 24.1 25.4 25.1 30.9 34.5 37.7 40.4 42.8 45.2

1 SAVINGS 1 BONDS ! 5T72

51.3 i 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 51.6 51;6 51.7 I 51.8 1 51.9 1 52.0 1

SHORT-TERM TREASURY SECURITIES

40JO 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 6 0.7 59.1 57.8 57.5 57 .5 56 .5 54.0 53.2 51.3 1 48.9

BANKERS ACCEPTANCES

j 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 3.5 3.5 3.3 3.1 I 3.2 3.3 1 5.5 I

1 COMMERCIAL | PAPER | 1875 T 18.5 | 18.7 | 18.5 I 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 1 28.0 | 29.4 | 30.6 | 31.9 | 33.2 | 34.0 | 35.0 | 36.1 | 37.4 | 38.5 | 39.5 | 39.9 | 38.7 | 37.8 | 36.9 | 35.7 | 34.9 | 34.5 |



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. . . i SEP...| OCT. . . I NOV...I DEC...I

I LARGE TIME DEPOS! 1 ' AT I COMMERCIAL i BANKS 1 5672 1 48.6 1 50.1 1 47.9 48.7 49.9 51.1 50.7 51.1 53.2 54.4 56.1 56.6 57.6 57.1 58.7 62.0 63.4 64.0 65.3 66.2 66.9 69.3 70.8 71.2 76.7 84.2 87.7 89.7 90.5 95.2 101.0 105.8 107.2 I 106.9 I 107.5 I

1 AT I THRIFT 1 INSTITUTIONS I O I 0.9 I 0.9 I 1.0 ! 1.1 1 1.1 1 1.2 1 1.3 1.3 1.4 I 1.5 1 1.5 1.6 1.7 1.7 1.8 1.9 2.0 2.1 2.2 2.2 2.3 2.4 2.5 2.5 2.6 | 2.7 1 2.8 ! 2.9 2.9 I 3.0 | 3.1 I 3.2 I 3.3 I 3.4 | 3.6 I

[TS 1 TOTAL

4775 1 49.5 1 51.0 48.9 49.8 51.0 52.3 52.0 52.4 54.6 55.8 57.7 58.2 59.2 58.8 60.6 63.9 65.4 66.0 67.5 68.4 69.2 71.7 73.3 1 73.7 79.3 I 86.8 I 90.5 1 92.5 i 93.5 I 98.2 I 104.1 I 109.1 I 110.5 I 110.4 | 111.1 1

r SAVINGS I BONDS 1 52.2 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 55.3 55.6 55.8 56.1 56.4 56.7 57.0 57.3 57.6 57.9 58.2 58.4 58.7 59.0 59.3 I 59.5 1 59.7 I 59.8 I 60.0 I 60.2 | 60.4 I

I SHORT-TERM I TREASURY I SECURITIES 1 4871 I 45.7 I 43.2 I 42.1 1 39.8 1 39.9 1 42.0 I 41.5 39.0 37.4 ! 36.3 36.1

36.2 36.3 36.9 36.6 I 36.8 I 36.7 1 35.8 35.9 I 36.2 ! 37.2 39.3 | 40.7 | 41.6 | 43.0 | 43.8 | 44.8 | 46.0 | 47.2 | 47.8 | 48.7 | 49.2 | 48.9 | 48.9 | 49.4 |

I BANKERS I ACCEPTANCES ! 3.6 3.4 3.3 3.5

Z.7 3.9 4.0 4.3 4.6 4.1 3.9 3.8 3.8 4.0 4.0 4.0 3.8 3.5 3.2 3.2 3.2 3.3 ^.5 3.5 3.4 3.4 i 3.5 | 3.6 | 3.5 | Z . 7 | 4.0 | 4.2 | 4.6 | 4.9 | 4.9 | 5.0 |

I COMMERCIAL I PAPER j 3471 I 33.6 1 33.0 I 32.6 1 32.4 I 31.8 I 31.4 I 31.7 ' 32.1 32.5 i 32.5 ! 32.7

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 i 34.3 I 34.3 i 35.0 | 36.0 | 36.1 | 36.8 | 38.0 | 39.5 | 41.4 | 41.9 |



T974JAN. . . FEB. . . MAR... APR... MAY... JUN... JUL... AUG... SEP... OCT.. . NOV. . . DEC... 1975 JAN... FEB.. . MAR... APR... MAY... JUN... JUL... AUG... SEP... OCT... MOV... DEC... 1976 JAN... FEB.. . MAR... APR... MAY... JUN... JUL... AUG... SEP... OCT... NOV... DEC...

1 L/ 1 AT I COMMERCIAL I BANKS 1 1 1 0 . 6 1 114.6 ! 115.5 I 122.8 I 128.3 1 132.6 1 135.7 1 136.5 1 137.0 I 137.5 I 136.7 1 139.4 I 140.7 1 139.8 I 136.3 1 131.6 1 129.1 1 126.8 f 124.5 1 122.4 1 122.9 I 124.1 1 125.0 1 123.4 I 120.4 I 118.0 I 118.6 1 118.4 1 115.2 I 118.3 1 119.2 1 115.5 1 113.4 I 111.4 1 110.2 I 110.3

\RGE TIME DEPOS: AT THRIFT INSTITUTIONS 3.7 3.8 4.0 4.1 4.2 4.3 4.3 4.4 4.5 4.8 5.1 5.4 5.6 5.9 6.1 6.3 6.3 6.3 6.2 6.2 6.2 6.3 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

:TS TOTAL 114.3 118.5 119.5 126.9 132.4 136.8 140.0 141.0 141.5 142.2 141.8 144.8 146.3 145.7 142.4 137.9 135.4 133.1 130.8 128.6 129.1 130.4 131.3 129.7 126.9 124.4 125.0 124.8 121.7 124.9 126.1 122.7 120.9 119.0 117.9 118.1

SAVINGS BONDS 6075 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 51.3 49.0 49.2 50.1 51.9 53.6 55.7 58.8 60.6 62.9 66.5 68.5 70.6 71.8 70.9 70.1 70.7 72.5 73.6 71.8 70.5 72.9 72.3 69.8

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 | 4374 | 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...I DEC...I

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

I LARGE TIME DEPOSl 1 AT 1 COMMERCIAL 1 BANKS 1 109.7 1 110.2 1 110.2 1 110.1 1 111.0 1 114.5 1 117.7 120.4 123.0 127.1 131.1 134.8 138.1 141.3 145.9 150.9 156.1 159.9 164.1 167.1 168.5 170.0 176.3 178.6 180.7 182.0 181.5 179.9 179.0 i 177.5 1 178.8 1 180.6 ! 186.2 I 191.1 1 190.8 I 190.0 I

1 AT 1 THRIFT 1 INSTITUTIONS 1 778 I 7.8 I 8.0 I 8.3 1 8.6 1 8.9 1 9.2 1 9.5 1 9.7 1 9.9 1 10.0 10.2 10.7 11.3 12.0 12.8 13.4 13.9 14.3 14.8 15.4 1 15.7 ! 16.1 1 16.5 I 17.2 1 18.0 I 18.7 | 19.4 | 20.5 | 22.2 | 23.9 | 25.2 | 26.4 | 28.1 | 30.4 | 32.1 I

[TS 1 TOTAL

11775 1 118.0 1 118.2 1 118.4 1 119.6 1 123.4 1 127.0 1 129.9 132.7 137.0 141.1 145.0 148.8 152.6 157.9 163.7 169.6 173.9 178.4 181.9 183.9 185.7 192.4 i 195.1 i 197.9 i 200.1 ! 200.2 I 199.3 I 199.5 I 199.7 I 202.7 I 205.8 | 212.6 | 219.2 | 221.2 | 222.1 I

l I SAVINGS I BONDS I 72.2 I 72.6 I 73.1 I 73.5 I 73.9 1 74.3 I 74.8 1 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 1 80.0 | 80.1 I 80.3 I 80.4 I 80.5 I 80.7 | 80.8 | 80.8 | 80.8 I 80.8 | 80.7 | 80.6 | 80.4 | 80.0 | 79.6 I

I SHORT-TERM I TREASURY I SECURITIES 6977 1 72.1 I 72.6 1 73.0 1 72.0 1 71.1 1 72.4 ! 74.6 75.1 75.3 76.8 78.2 79.2 79.4 77.5 76.6 75.0 73.9 73.8 75.5 77.7 78.2 I 78.5 I 81.1 I 82.1 I 83.6 I 88.7 | 94.3 | 99.4 | 106.9 | 106.0 | 102.2 | 103.2 | 103.9 | 104.8 | 107.8 |

I BANKERS I ACCEPTANCES TT75 1 12.0 1 12.3 1 12.8 1 13.3 1 13.6 1 13.8 1 13.8 1 13.9 i 13.9 13.9 14.1 14.5 15.3 16.1 16.6 16.8 17.4 17.8 18.0 18.0 i 18.4 I 20.4 | 22.0 | 22.2 I 22.0 | 21.9 | 21.7 | 21.7 | 22.4 | 23.9 | 26.2 | 27.5 | 27.7 | 27.9 | 27.2 |

I COMMERCIAL I PAPER 1 5272 I 52.7 1 53.5 1 54.7 1 55.7 1 57.6 1 58.5 I 59.0 ! 60.0 1 61.5 1 62.3 62.9

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



I98tiJAN... 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...

LARGE TIME DEPOS] ! AT COMMERCIAL BANKS 191.1 193.3 195.5 198.9 199.6 195.2 190.9 190.9 193.6 197.2 204.6 214.1 224.4 228.2 225.9 224.2 230.4 237.2 242.5 246.9 248.9 248.5 248.1 247.6 250.7 254.4 256.5 260.9 261.3 265.0 268.4 269.6 268.5 270.5 269.4 262.1

1 AT I THRIFT 1 INSTITUTIONS 33.5 1 34.9 I 36.0 37.2 38.3 1 39.0 39.7 40.5 41.6 43.0 43.4 44.8 45.9 46.5 47.0 47.8 49.3 49.7 50.5 51.6 52.5 53.2 53.6 54.2 55.3 56.7 58.0 58.7 59.2 60.0 60.6 61.1 62.1 63.5 65.6 65.8

:TS TOTAL 224.6 228.1 231.4 236.1 237.9 234.2 230.6 231.3 235.2 240.2 248.0 259.0 270.3 274.7 272.9 272.0 279.7 286.9 293.0 298.5 301.5 301.7 301.7 301.8 305.9 311.1 314.5 319.6 320.5 325.0 329.0 330.8 330.6 334.0 334.9 327.8

SAVINGS BONDS 7879 78.1 76.9 75.3 74.2 73.7 73.5 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 68.0

SHORT-TERM TREASURY SECURITIES

109.5 111.6 115.3 124.7 127.4 123.2 120.7 124.9 126.9 126.0 129.0 133.4 137.7 143.3 138.2 134.3 136.3 138.4 138.4 139.9 143.4 150.1 153.4 149.6 152.8 161.9 162.5 164.0 166.5 167.3 168.8 169.7 171.0 175.9 180.6 184.4

BANKERS ACCEPTANCES 2773 28.0 28.9 29.2 29.5 30.0 29.4 29.3 30.5 31.2 31.8 32.1 32.4 33.4 34.7 36.0 36.7 37.4 38.1 38.2 38.2 38.4 39.4 39.9 40.4 40.7 40.0 40.4 41.4 41.7 41.7 40.8 41.3 43.2 43.5 44.3

COMMERCIAL | PAPER | 9875 T 99.2 I 99.6 I 100.0 I 98.8 | 97.0 | 96.2 | 96.2 | 97.2 | 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 | 105.5 | 108.5 | 109.7 | 108.1 | 110.9 | 112.3 | 114.9 | 113.1 | 109.2 | 108.4 | 105.0 | 109.9 |



1 9 8 3 J A N . . . F E B . . . M A R . . . A P R . . . M A Y . . . J U N . . . J U L . . . A U G . . . S E P . . . O C T . . . NOV. . . D E C . . .

1 9 8 4 J A N . . . F E B . . . M A R . . . A P R . . . MAY. J U N . . . J U L . . . A U G . . . S E P . . . O C T . . . NOV. . . D E C . . .

1 9 8 5 J A N . . . F E B . . . M A R . . . APR. . . I M A Y . . . i J U N . . . I J U L . . . I AUG. . . I S E P . . . 1 O C T . . .1 N O V . . . I D E C . . . I

1 LARGE T IME DEPPS' 1 AT I COMMERCIAL 1 BANKS 1 244 .7 1 2 3 3 . 1 1 2 2 7 . 0 I 226 .6 I 222 .7 1 2 2 6 . 4 1 2 2 3 . 5 1 2 2 5 . 9 1 2 2 6 . 5 1 2 2 4 . 4

2 2 7 . 2 228 .7

2 3 0 . 8 2 3 1 . 4 233 .7 2 3 7 . 4 2 4 3 . 3 2 4 9 . 5 2 5 4 . 0 2 5 6 . 1 258 .7 2 6 3 . 2 2 6 2 . 8 263 .7

2 6 3 . 1 2 6 3 . 8 2 6 8 . 2 2 7 2 . 3 1 2 6 9 . 3 ] 2 6 7 . 3 | 2 6 4 . 0 | 2 6 8 . 0 | 2 7 2 . 4 | 2 7 4 . 3 | 276 .7 | 2 7 9 . 1 |

1 AT 1 THRIFT 1 INSTITUTIONS 1 62?8 I 62 .7 1 6 5 . 0 1 6 9 . 1 1 7 2 . 9 1 75 .7 1 80 .7 I 85 .7 i 91 .0

95 .8 98 .3

101 .1

105.7 111.0 115 .1 120.0 125.0 130 .2 135.7 139.0 138.8 142.8 146.6 I

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