[Economic Report of the President (1999)]
[Administration of William J. Clinton]
[Online through the Government Printing Office, www.gpo.gov]



MONEY STOCK, CREDIT, AND FINANCE


[[Page 408]]


Table B-70.--Components of money stock measures and liquid assets, 1959-98
[Averages of daily figures; billions of dollars, seasonally adjusted, except as noted]
--------------------------------------------------------------------------------------------------------------------------------------------------------
Savings   Money market  mutual
deposits,      fund  (MMMF)
Other       Small      including        balances
Travelers    Demand   checkable    denomi-       money   ---------------------
Year  and  month                         Currency    checks    deposits   deposits     nation      market
(OCDs)       time       deposit               Institu-
deposits\1\   accounts     Retail   tion only
(MMDAs)\2\
--------------------------------------------------------------------------------------------------------------------------------------------------------
December:
1959.......................................................       28.8        0.3      110.8        0.0        11.4        146.5        0.0        0.0

1960.......................................................       28.7         .3      111.6         .0        12.5        159.1         .0         .0
1961.......................................................       29.3         .4      115.5         .0        14.8        175.5         .0         .0
1962.......................................................       30.3         .4      117.1         .0        20.1        194.7         .0         .0
1963.......................................................       32.2         .4      120.6         .1        25.6        214.4         .0         .0
1964.......................................................       33.9         .5      125.8         .1        29.2        235.3         .0         .0
1965.......................................................       36.0         .5      131.3         .1        34.5        256.9         .0         .0
1966.......................................................       38.0         .6      133.4         .1        55.0        253.2         .0         .0
1967.......................................................       40.0         .6      142.5         .1        77.8        263.7         .0         .0
1968.......................................................       43.0         .7      153.6         .1       100.6        268.9         .0         .0
1969.......................................................       45.7         .8      157.3         .2       120.4        263.6         .0         .0

1970.......................................................       48.6         .9      164.7         .1       151.2        260.9         .0         .0
1971.......................................................       52.0        1.0      175.1         .2       189.8        292.2         .0         .0
1972.......................................................       56.2        1.2      191.6         .2       231.7        321.4         .0         .0
1973.......................................................       60.8        1.4      200.3         .3       265.8        326.7         .1         .0
1974.......................................................       67.0        1.7      205.1         .4       287.9        338.6        1.7         .2
1975.......................................................       72.8        2.1      211.6         .9       337.8        388.8        2.8         .5
1976.......................................................       79.5        2.6      221.6        2.7       390.7        453.2        2.5         .6
1977.......................................................       87.4        2.9      236.8        4.2       445.5        492.2        2.6        1.0
1978.......................................................       96.0        3.3      250.6        8.5       520.9        481.9        6.7        3.4
1979.......................................................      104.8        3.5      257.7       16.8       634.2        423.8       34.8       10.2

1980.......................................................      115.4        3.9      261.5       28.1       728.5        400.2       63.4       15.9
1981.......................................................      122.6        4.1      231.4       78.7       823.1        343.9      152.4       38.6
1982.......................................................      132.5        4.1      234.0      104.1       850.9        400.1      185.2       49.4
1983.......................................................      146.1        4.7      238.4      132.1       784.0        684.9      137.5       41.4
1984.......................................................      156.2        5.0      243.7      147.4       888.8        704.7      166.5       62.1
1985.......................................................      167.9        5.6      266.6      179.8       885.7        815.2      176.8       64.5
1986.......................................................      180.7        6.1      302.1      235.6       858.4        940.9      210.4       85.1
1987.......................................................      196.8        6.6      286.8      259.5       921.0        937.4      224.6       92.1
1988.......................................................      212.3        7.0      286.8      280.9     1,037.1        926.3      245.9       92.5
1989.......................................................      222.7        6.9      279.3      285.3     1,151.4        893.7      321.7      110.7

1990.......................................................      246.8        7.8      277.4      293.9     1,172.7        923.8      357.2      138.8
1991.......................................................      267.3        7.8      289.6      332.5     1,065.3      1,045.2      372.2      186.8
1992.......................................................      292.9        8.1      339.5      384.4       868.3      1,187.4      354.0      209.8
1993.......................................................      322.2        7.9      385.2      414.5       782.6      1,219.5      355.6      212.6
1994.......................................................      354.3        8.5      384.0      403.9       817.4      1,149.9      385.0      203.1
1995.......................................................      372.4        8.9      391.0      356.4       933.0      1,134.7      454.9      253.9
1996.......................................................      394.9        8.6      403.6      275.9       948.8      1,271.7      522.8      310.3
1997.......................................................      425.5        8.2      397.1      245.2       969.6      1,397.5      603.2      376.2
1998p......................................................      460.1        8.3      376.7      247.2       953.2      1,604.5      762.4      511.6

1997:Jan.....................................................      396.9        8.6      402.2      273.2       950.1      1,281.4      528.5      309.9
Feb......................................................      399.6        8.6      402.4      268.2       951.1      1,288.9      535.0      319.8
Mar......................................................      401.6        8.4      402.4      262.5       951.5      1,300.4      542.8      325.9
Apr......................................................      403.5        8.3      397.3      259.1       952.9      1,317.2      552.8      328.5
May......................................................      406.0        8.2      396.6      253.4       956.4      1,320.6      553.1      331.8
June.....................................................      408.0        8.0      398.3      251.1       960.4      1,325.8      559.0      338.3
July.....................................................      410.5        8.3      398.4      248.4       962.9      1,331.4      565.4      342.7
Aug......................................................      412.6        8.3      401.9      248.2       964.4      1,343.0      578.9      348.4
Sept.....................................................      415.6        8.1      391.9      247.8       965.7      1,359.7      590.3      356.6
Oct......................................................      418.3        8.2      389.6      245.8       967.5      1,374.7      595.2      363.4
Nov......................................................      421.9        8.1      394.5      244.6       968.4      1,384.5      601.5      365.7
Dec......................................................      425.5        8.2      397.1      245.2       969.6      1,397.5      603.2      376.2

1998:Jan.....................................................      427.5        8.2      392.8      245.2       971.4      1,411.9      614.7      380.8
Feb......................................................      431.0        8.1      392.0      245.5       970.8      1,427.6      629.6      384.7
Mar......................................................      432.4        8.1      391.2      249.5       969.1      1,441.8      641.2      391.9
Apr......................................................      433.7        8.0      388.6      250.5       966.4      1,468.2      650.8      408.8
May......................................................      435.5        8.0      387.9      246.3       963.1      1,473.8      661.2      422.0
June.....................................................      438.2        7.8      383.2      245.4       962.3      1,484.9      672.3      432.1
July.....................................................      441.3        7.7      378.1      244.8       960.2      1,503.0      675.1      430.2
Aug......................................................      443.8        7.8      374.3      243.2       958.3      1,517.8      693.6      443.3
Sept.....................................................      449.6        7.9      373.7      241.2       958.3      1,537.8      721.5      457.5
Oct......................................................      453.4        8.1      374.2      243.1       958.8      1,556.9      740.3      480.7
Nov......................................................      456.8        8.2      376.3      246.5       957.3      1,577.7      750.8      498.5
Decp.....................................................      460.1        8.3      376.7      247.2       953.2      1,604.5      762.4      511.6
--------------------------------------------------------------------------------------------------------------------------------------------------------
\1\Small denomination deposits are those issued in amounts of less than $100,000.
\2\Data prior to 1982 are savings deposits only; MMDA data begin December 1982.

See next page for continuation of table.


[[Page 409]]


Table B-70.--Components of money stock measures and liquid assets, 1959-98--Continued
[Averages of daily figures; billions of dollars, seasonally adjusted, except as noted]
----------------------------------------------------------------------------------------------------------------
Over-
night and
Large        term      Over-                 Short-
denomi-      repur-   night and                term     Bankers    Commer-
Year and month              nation      chase       term     Savings    Treasury   accept-      cial
time       agree-     Euro-     bonds\4\   securi-    ances\4\   paper\4\
deposits\3\    ments     dollars               ties\4\
(RPs)      (net)
(net)
----------------------------------------------------------------------------------------------------------------
December:
1959...........................         1.2         0.0        0.7       46.1       38.6        0.6        3.6

1960...........................         2.0          .0         .8       45.7       36.7         .9        5.1
1961...........................         3.9          .0        1.5       46.5       37.0        1.1        5.2
1962...........................         7.0          .0        1.6       46.9       39.8        1.1        6.8
1963...........................        10.8          .0        1.9       48.1       40.7        1.2        7.7
1964...........................        15.2          .0        2.4       49.0       38.5        1.3        9.1
1965...........................        21.2          .0        1.8       49.6       40.7        1.6       10.2
1966...........................        23.1          .0        2.2       50.2       43.2        1.8       14.4
1967...........................        30.9          .0        2.2       51.2       38.7        1.8       17.8
1968...........................        37.4          .0        2.9       51.8       46.1        2.3       22.5
1969...........................        20.4         4.9        2.7       51.7       59.5        3.3       34.0

1970...........................        45.1         3.0        2.4       52.0       49.0        3.5       33.2
1971...........................        57.6         5.2        2.9       54.3       36.1        3.8       32.3
1972...........................        73.3         6.6        3.9       57.6       40.8        3.5       35.1
1973...........................       111.0        12.8        5.8       60.4       49.4        5.0       41.6
1974...........................       144.7        14.2        8.5       63.3       52.8       12.6       49.7
1975...........................       129.7        14.7       10.2       67.2       68.5       10.7       48.1
1976...........................       118.1        25.1       15.4       71.8       69.9       10.8       52.2
1977...........................       145.2        32.9       21.9       76.4       78.4       14.1       64.1
1978...........................       195.6        44.6       35.1       80.3       81.4       22.0       80.9
1979...........................       223.1        47.7       49.8       79.5      108.2       27.1       99.7

1980...........................       260.2        57.4       57.7       72.3      133.9       32.0       99.5
1981...........................       303.9        65.3       77.0       67.8      149.4       39.9      103.8
1982...........................       324.9        67.4       89.8       68.0      182.9       44.5      108.3
1983...........................       316.5        94.5      104.8       71.1      213.2       45.0      136.5
1984...........................       403.2       105.4       96.9       74.2      261.9       45.4      157.3
1985...........................       422.4       119.9       94.0       79.5      298.2       42.1      208.9
1986...........................       420.2       143.3      103.9       91.8      275.8       37.1      231.2
1987...........................       467.0       172.6      108.2      100.6      249.5       44.5      272.7
1988...........................       518.3       189.0      117.0      109.4      266.8       40.2      334.3
1989...........................       541.5       158.0       95.2      117.5      324.0       40.7      344.6

1990...........................       481.0       138.8       88.7      126.0      334.1       36.2      354.4
1991...........................       416.6       119.5       79.3      137.9      328.8       23.9      335.2
1992...........................       353.5       128.6       66.9      156.6      344.7       21.0      365.7
1993...........................       333.6       158.8       66.3      171.5      340.8       14.9      387.1
1994...........................       363.4       183.3       80.8      180.2      382.9       14.1      405.0
1995...........................       419.6       182.4       88.6      184.7      469.2       11.4      441.3
1996...........................       491.2       194.2      109.2      186.9      454.8       12.4      498.5
1997...........................       572.9       236.1      145.3      186.4      429.6       12.1      606.3
1998...

1997:Jan.........................       496.6       197.2      112.3      186.7      442.8       12.2      510.5
Feb..........................       505.5       200.0      114.7      186.6      444.5       12.8      518.7
Mar..........................       516.8       198.6      116.8      186.5      446.3       13.3      526.1
Apr..........................       528.8       202.4      120.7      186.4      451.2       12.8      534.5
May..........................       531.0       204.1      126.7      186.3      458.6       13.0      541.1
June.........................       538.6       199.8      124.5      186.4      450.8       12.8      553.2
July.........................       550.5       207.4      126.6      186.4      433.5       12.7      563.6
Aug..........................       552.4       210.3      130.2      186.4      445.3       13.0      563.2
Sept.........................       559.7       209.8      132.4      186.4      445.0       12.9      563.9
Oct..........................       560.8       219.5      131.8      186.4      435.2       13.4      571.3
Nov..........................       567.3       233.9      135.7      186.4      441.5       13.0      581.3
Dec..........................       572.9       236.1      145.3      186.4      429.6       12.1      606.3

1998:Jan.........................       577.5       246.9      146.5      186.3      434.4       12.2      627.1
Feb..........................       592.8       241.7      140.3      186.3      455.1       11.2      640.2
Mar..........................       611.6       259.7      133.8      186.2      438.4       11.3      665.7
Apr..........................       610.7       259.7      134.3      186.1      410.7       13.0      674.2
May..........................       615.8       261.4      138.3      186.0      407.8       13.3      665.5
June.........................       623.9       254.3      139.9      186.0      396.6       13.4      686.2
July.........................       610.4       258.3      143.5      186.0      371.2       14.6      701.6
Aug..........................       616.4       265.5      148.3      185.9      374.3       14.8      697.7
Sept.........................       616.1       272.1      149.4      186.0      371.2       14.0      715.0
Oct..........................       614.6       267.5      152.8  .........  .........  .........  .........
Nov..........................       621.4       277.8      153.6  .........  .........  .........  .........
Dec..
----------------------------------------------------------------------------------------------------------------
\3\Large denomination deposits are those issued in amounts of more than $100,000.
\4\See footnote 1, Table B-69.

Note.--See also Table B-69.

Source: Board of Governors of the Federal Reserve System.