Greenbook/Tealbook

Prefatory Note The attached document represents the most complete and accurate version available based on original copies culled from the files of the FOMC Secretariat at the Board of Governors of the Federal Reserve System. This electronic document was created through a comprehensive digitization process which included identifying the bestpreserved paper copies, scanning those copies, 1 and then making the scanned versions text-searchable. 2 Though a stringent quality assurance process was employed, some imperfections may remain. Please note that some material may have been redacted from this document if that material was received on a confidential basis. Redacted material is indicated by occasional gaps in the text or by gray boxes around non-text content. All redacted passages are exempt from disclosure under applicable provisions of the Freedom of Information Act. 1 In some cases, original copies needed to be photocopied before being scanned into electronic format. All scanned images were deskewed (to remove the effects of printer- and scanner-introduced tilting) and lightly cleaned (to remove dark spots caused by staple holes, hole punches, and other blemishes caused after initial printing). 2 A two-step process was used. An advanced optical character recognition computer program (OCR) first created electronic text from the document image. Where the OCR results were inconclusive, staff checked and corrected the text as necessary. Please note that the numbers and text in charts and tables were not reliably recognized by the OCR process and were not checked or corrected by staff. Content last modified 6/05/2009. CONFIDENTIAL (FR) SUPPLEMENT CURRENT ECONOMIC AND FINANCIAL CONDITIONS Prepared for the Federal Open Market Committee By the Staff Board of Governors of the Federal Reserve System June 14, 1968 SUPPLEMENTAL NOTES The Domestic Economy Unit auto sales and stocks. Dealer deliveries of new domestic autos dropped significantly in the first period of June to a seasonally adjusted annual rate of 7.9 units, 7 per cent below a year Trade sources indicate that the drop was due in part to earlier. fewer sales contests during the 10-day period this year compared to last year. Contract interest rates for conventional first mortgages on new homes in May rose by a record 25 basis points to a new high for the FHA series. The rise in the Middle Atlantic states was particularly striking, amounting to 60 basis points and reflecting in large part an upward structural adjustment in usury ceiling limits in Pennsylvania effective May 17. Increases in other regions, though less striking, ranged between 10 basis points in the North Central States (to an average contract rate of 7.0 per cent) and 25 basis points in the Northeast and West, where average rates reached 6.70 and 7.45 per cent, respectively. Comparable rates on first mortgages for existing homes showed a similar pattern in May, again with the major upward adjustment concentrated in the Middle Atlantic states. - 2 - CONTRACT RATES ON CONVENTIONAL FIRST MORTGAGES FOR HOMES IN 1968 (Per cent) New home mortgages Existing home mortgages All Middle Atlantic All regions States regions States January 6.75 6.00 6.80 6.00 February 6.75 6.00 6.80 6.00 March 6.80 6.15 6.80 6.15 April 6.90 6.30 6.95 6.40 May 7.15 6.90 7.20 6.90 Note: Middle Atlantic FHA series, rounded to nearest 5 basis points. While the May rise in contract rates for conventional home mortgages was sharp, all indications are that the concurrent increase in secondary market yields on FHA-insured mortgages was even more so. The increase reflected a sharp response to backed-up market pressures released by the belated and unprecedented 3/4 point increase in the regulatory ceiling rate, effective May 7, and the earlier shift to the new "auction" system for mortgages to be purchased under FNMA's secondary market operations. Because of the regulatory ceiling change, no direct measure is available from the Federal Housing Administration for the secondary market yield series based on the new 6-3/4 per cent However, if as now seems likely, the initial spurt contract rate. approached 50 basis points, this series may have soared to nearly 7-1/2 per cent in May. Moreover, while yields on Aaa corporate bonds also rose over the month as a whole in response to general market pressures, the yield-spread in favor of FHA-insured mortgages may have widened abruptly to about 90 basis points, the most attractive margin in about a year. - 3 The Domestic Financial Situation Over the past few days, yields on U.S. Government securities have drifted down slightly from the levels reported in the Greenbook. In the Treasury bill market, most of the 10 basis point rise in yields that had developed just as the Greenbook was going to press has now been erased. And yields on notes and bonds have slightly extended earlier declines from their May highs. The principal factor accounting for the easing of yields has been a further strengthening of market optimism regarding passage of the tax bill. In addition, System opera- tions which halted a tendency for money conditions to tighten and some reappearance of investor demand have contributed to the yield reversal on bills. -4- KEY INTEREST RATES 1967 May 21 1968 May 27 4.67 4.88 5.75 5.05 5.13 5.92 6.13 7.06 6.11 6.00 5.67 6.00 7.13 6.10 6.00 5.67* 6.00 6.88 5.91 6.00 5.50 (12/29) 5.70 (12/29) 5.25 5.30 6.00 6.15 6.00 6.20 6.00 6.10 5.60 5.88 6.00 5.55 5.13 5.00 5.13 5.40 6.08 6.25 6.13 6.26 5.87 6.13 6.25 6.25 5.71* 6.13 6.25 6.08 5.50 (12/29) 6.00 (12/29) 5.38 5.60 6.25 6.30 6.25 6.40 6.25 6.27 5.71 (12/29) 5.95 (12/29) 4.00 (12/29) 5.27 5.75 3.40 6.03 5.97 3.80 5.93 5.97 3.90 5.71* 6.00 3.70 5.91 (11/13) 5.72 5.70 6.21 5.66 6.02 5.57 5.88** 5.43** 6.25 (12/28) 6.98 (12/28) 6.13 6.76 6.27 7.03 6.29 7.10 6.28** 7.08** 6.55 (12/7) 6.70 (12/1) 6.53 6.68 6.62 6.84 6.61 Municipal Bond Buyer Index Moody's Aaa 4.45 (12/7) 4.15 (12/28) 4.33 3.98 4.52 4.25 4.71 4.35 4.56 4.25 FHA home mortgages 30-years 6.81 (Dec.) High Short-Term Rates 3-months Treasury bills (bid) Bankers' acceptances Euro-dollars Federal agencies Finance paper CD's (prime NYC) Highest quoted new issue Secondary market 6-months Treasury bills (bid) Bankers' acceptances Commercial paper Federal agencies CD's (prime NYC) Highest quoted new issue Secondary market 1-year Treasury bills (bid) Federal agencies Prime municipals 5.07 (12/5) 5.63 (12/29) 6.88 (11/28) 5.30 (12/29) 5.88 (1/6) (12/1) (12/29) (1/16) (12/29) Nov. 1/ 17- June 14 Intermediate and Long-Term Treasury coupon issues 5-years 20-years Corporate Seasoned Aaa Baa New Issue Aaa With call protection Without call protection 5.81 1/ Pre-devaluation yield levels. * - Noon quotations. **- June 13 close. (11/20) 6.77(Nov.) 6.94(Apr.) -- SUPPLEMENTAL APPENDIX A: REVISED SERIES ON MONEY SUPPLY, DEPOSITS. AND AGGREGATE MEMBER BANK RESERVES* Annual revisions of the series on money supply and related data, aggregate reserves, and member bank deposits have been completed, and revised data will be published in the Bulletin at the end of June. Seasonal factors have been updated for all series, and benchmark corrections for 1967 have been incorporated in the money supply series. In addition, the aggregate reserve series have been adjusted to the higher level of percentage reserve requirements which became effective in January 1968. Benchmark corrections for the money supply series and related data were the smallest since the daily average series were introduced in 1960. Adjustments to the June 1967 benchmark were insignificant. However, December benchmarks lowered the demand deposit component of the money supply by $200 million at the end of 1967 and increased commercial bank time deposits by a similar amount. Revisions due to changes in seasonal factors also were relatively small for the monthly average series by comparison with revisions in other recent years. The largest seasonal factor revisions were for commercial bank time deposits in the last three months of the year, for which increases in seasonal factors and corresponding reductions in the seasonally adjusted levels averaged three-tenths of one per cent. Revisions in weekly seasonal factors were much larger than those for the monthly series, especially for demand deposits, due mainly to new intramonthly patterns of remittances of withholding taxes and other tax payments which have developed over the last year or so. Weekly fluctuations in the demand deposit series and in the credit proxy have been smoothed considerably over the latest year, taking account of these changes. With this revision, levels of deposits and reserves to be used henceforth in the Greenbook and Bluebook have been reduced to reflect the discontinuity in time deposits which has been reflected in published data since June 1966. It may be recalled that balances accumulated for payment of personal loans were eliminated from time deposits effective June 9, 1966, thereby reducing time deposits, the credit proxy, and required reserves. Adjustments to eliminate this discontinuity will continue to be made in comparisons of data for periods spanning the break in series. * - Prepared by Edward R. Fry, Darwin L. Beck, and Mary F. Weaver, Banking Section, Division of Research and Statistics. SA - 2 TOTAL, NONBORROWED AND REQUIRED RESERVES (Dollar amounts in millions, based on monthly averages of daily figures) Total reserves S.A. N.S.A. Nonborrowed reserves S.A. N.S.A. Required reserves S.A. N.S.A. 1966--Jan. Feb. Mar. Apr. May June 1/ July Aug. Sept Oct. Nov. Dec. 22,785 22,857 22,888 23,118 23,192 23,149 23,293 23,029 23,065 22,954 22,915 22,895 23,263 22,720 22,659 23,049 23,006 23,056 23,363 22,707 22,996 22,954 22,892 23,467 22,325 22,376 22,331 22,490 22,486 22,472 22,552 22,336 22,319 22,243 22,303 22,286 22,861 22,242 22,108 22,423 22,284 22,383 22,597 21,979 22,230 22,221 22,281 22,910 22,456 22,507 22,512 22,714 22,773 22,780 22,864 22,710 22,689 22,629 22,593 22,600 22,905 22,349 22,354 22,691 22,636 22,734 22,955 22,369 22,598 22,652 22,503 23,075 1967--Jan. Feb. Mar. Apr. May June July Aug. Sept Oct. Nov. Dec. 23,217 23,471 23,869 23,910 23,952 24,105 24,342 24,627 24,786 25,121 25,275 25,153 23,705 23,330 23,654 23,838 23,760 24,009 24,415 24,282 24,712 25,121 25,250 25,782 22,770 23,107 23,668 23,775 23,874 23,982 24,279 24,586 24,721 25,020 25,142 24,848 23,316 22,968 23,455 23,704 23,659 23,886 24,328 24,193 24,622 24,995 25,117 25,544 22,875 23,134 23,383 23,529 23,531 23,660 23,960 24,259 24,452 24,810 24,947 24,914 23,332 22,972 23,219 23,529 23,390 23,589 24,056 23,895 24,354 24,835 24,847 25,437 1968--Jan. Feb. Mar. Apr. May 25,500 25,765 25,812 25,623 25,705 26,035 25,610 25,580 25,546 25,499 25,193 25,401 25,135 24,938 24,978 25,798 25,249 24,909 24,863 24,753 25,151 25,389 25,402 25,276 25,238 25,654 25,211 25,224 25,276 25,087 1/ Break in series due to redefinition of time deposits effective June 9, 1966, which reduced required reserves by $34 million. SA - 3 DEPOSITS SUPPORTED BY REQUIRED RESERVES AT ALL MEMBER BANKS (Dollar amounts in billion, based on monthly averages of daily figures) MONTHLY Total Member bank deposits (credit proxy) S.A. N.S.A. Time deposits S.A. N.S.A. Private demand deposits S.A. N.S.A. 1966--Jan. Feb. Mar. Apr. May June 2/ July Aug. Sept. Oct. Nov. Dec. 238.0 239.0 239.8 241.9 243.9 244.4 245.8 245.6 245.5 244.4 244.0 244.6 241.1 238.3 239.1 242.4 243.1 243.9 246.6 243.4 244.6 244.6 243.0 247.1 121.8 121.9 122.8 124.8 126.2 126.6 128.1 128.8 129.2 128.6 128.3 129.4 121.4 122.4 123.7 125.4 126.8 127.0 128.4 129.2 129.0 128.4 127.3 127.9 111.7 112.1 112.6 113.2 113.1 113.2 112.6 112.3 112.4 111.7 111.6 111.7 116.4 111.4 111.5 114.4 109.8 111.5 111.0 109.7 111.8 112.0 112.5 116.1 1967--Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. 247.7 251.0 254.0 255.8 257.2 259.5 262.4 266.1 268.4 270.8 272.9 273.2 250.9 250.2 253.2 256.3 256.5 258.9 263.2 263.7 267.3 271.1 271.9 275.9 131.5 133.3 135.3 137.2 138.7 140.8 142.8 144.6 146.3 147.4 148.6 149.9 131.1 134.0 136.3 137.9 139.4 141.3 143.1 145.2 146.0 147.0 147.6 148.1 111.4 112.6 113.6 113.0 114.5 116.0 116.7 117.5 117.6 118.2 118.7 118.6 1968--Jan Feb. Mar. Apr. May 274.7 277.0 278.0 276.9 277.3 278.3 276.2 277.1 277.5 276.4 149.9 150.2 151.2 151.3 151.5 149.4 151.0 152.2 152.1 152.2 119.4 119.7 120.1 120.4 122.1 2/ 2/ U.S. Govt. demand deposits S.A. N.S.A. 4.5 5.0 3.3 4.5 4.4 4.0 4.0 4.6 4.6 5.1 2.7 6.5 5.5 7.2 4.5 4.5 3.7 4.0 4.1 3.5 3.8 4.3 3.2 3.0 116.1 111.8 112.6 114.2 111.2 114.2 115.1 114.8 116.9 118.5 119.7 123.3 4.8 5.1 5.1 5.6 4.0 2.6 2.9 4.0 4.5 5.2 5.6 4.6 3.7 4.5 4.3 4.3 5.8 3.4 5.1 3.7 4.4 5.7 4.6 4.5 124.4 118.8 119.1 121.7 118.6 5.4 4.4 7.1 6.7 5.2 3.7 6.4 5.9 3.7 5.6 Break in series due to redefinition of time deposits effective June 9, 1966, which reduced total member bank deposits and time deposits by $850 million. SA - 4 DEPOSITS SUPPORTED BY REQUIRED RESERVES AT ALL MEMBER BANKS (Dollar amounts in billions, based on weekly averages Total Member 2/ bank deposits 2/Tme (credit proxy)depos S.A. N.S.A. S.A. N.S.A. eekly of daily figures) Private demand deposits S.A. N.S.A. U.S. Govt. demand deposits N.S.A. S.A. 246.5 246.9 247.0 248.3 253.4 251.4 249.8 249.9 130.6 130.8 131.2 132.1 129.4 130.0 130.9 132.0 111.7 111.6 111.4 112.2 119.5 117.5 116.5 114.0 4.2 4.5 4.4 4.5 3.9 2.4 5.0 4.0 249.3 250.2 250,8 251.4 250.9 251.2 250.0 249.6 132.6 132.8 133.3 133.6 132.8 133.4 133.9 134.3 111.5 112.0 112.5 113.0 114.0 113.1 111.9 110.9 5.3 5.3 5.0 4.8 4.0 4.7 4.1 4.4 22 29 251.6 252.1 253.2 255.0 255.2 250.0 250.3 251.5 255.7 254.9 133.8 134.4 135.1 135.6 135.9 134.6 135.4 136.2 136.5 137.0 113.2 113.4 113.5 113.7 113.3 110.8 111.3 112.7 114.5 111.8 4.6 4.2 4.6 5.7 6.0 4.6 3.7 2.6 4.8 6.1 Apr. 5 12 19 26 255.1 255.7 255.8 256.1 255.2 255.6 256.7 256.9 136.5 137.2 137.3 137.4 137.5 137.9 137.8 138.0 113.7 113.3 112.8 112.4 113.5 114.4 115.7 113.5 4.9 5.2 5.7 6.3 4.2 3.4 3.1 5.5 May 3 10 17 24 31 256.5 257.0 257.3 257.2 257.8 257.5 257.2 256.9 255.7 255.5 137.8 138.1 138.6 139.1 139.6 138.3 138.8 139.3 139.8 140.3 113.1 113.4 115.0 115.0 115.3 113.1 111.3 111.6 110.1 110.9 5.7 5.4 3.7 3.1 2.9 6.0 7.1 6.0 5.8 4.3 June 7 14 21 28 258.7 259.6 260.6 259.2 256.9 257.5 261.6 259.3 140.2 140.9 140.9 141.3 140.7 141.3 141.2 141.5 115.8 115.9 116.0 116.2 113.3 114.3 116.1 113.1 2.7 2.9 3.6 1.8 2.8 1.9 4.2 4.6 July 5 12 19 26 259.8 261.0 263.0 263.6 261.6 262.0 264.0 263.7 141.8 142.2 142.8 143.1 142.2 142.4 143.1 143.5 116.9 117.2 116.7 116.7 114.9 115.4 115.4 114.3 1.0 1.6 3.5 3.8 4.5 4.2 5.5 5.9 Aug. 2 16 23 30 264.6 265.6 265.9 266.3 266.5 264.7 264.6 263.6 263.2 262.8 143.5 144.2 144.6 144.8 145.4 144.1 144.8 145.1 145.4 145.8 117.1 117.2 117.3 117.5 117.7 115.7 115.0 115.2 114.0 114.3 4.1 4.2 3.9 4.0 3.5 4.8 4.9 3.3 3.8 2.7 6 13 20 27 268.6 268.7 268.0 268.2 265.6 266.3 267.7 268.3 145.9 146.2 146.3 146.6 146.1 146.2 145.8 146.0 118.0 118.0 116.7 117.4 115.8 117.4 117.9 116.1 4.7 4.6 5.0 4.2 3.7 2.7 4.1 6.2 1967--Jan. 4 11 18 25 Feb. 1 8 15 22 Mar. 1 8 15 9 Sept. SA - 5 Private Total Member bank deposits 2/ (credit proxy) S.A. N.S.A. eek Tme 2/ depositdeposits S.A. N.S.A. S.A. U.S. Govt. N.S.A. demand deposits S.A. N.S.A. demand 1967--Oct. 4 11 18 25 268.7 269.8 271.9 271.4 270.0 269.9 272.1 271.4 146.9 147.0 147.4 147.5 146.4 146.7 147.0 147.1 118.2 118.6 118.4 118.1 118.1 118.6 119.0 118.0 3.6 4.2 6.0 5.8 5.5 4.7 6.2 6.3 Nov. 1 8 15 22 29 272.2 272.6 272.7 273.4 273.1 272.0 272.3 270.9 272.2 271.6 148.0 148.2 148.6 148.8 149.4 147.4 147.4 147.5 147.5 147.9 117.9 118.6 118.4 118.8 118.8 118.8 119.8 119.8 119.6 119.3 6.2 5.7 5.7 5.7 5.0 3.6 5.8 5.1 4.9 4.5 Dec. 6 13 20 27 273.2 273.0 272.7 273.0 273.4 272.6 275.9 277.9 149.7 150.2 150.5 150.6 148.0 148.3 148.0 148.0 118.9 118.4 118.1 118.2 121.2 121.6 123.8 123.4 4.7 4.3 4.1 4.2 4.2 2.7 4.2 6.5 1968--Jan. 3 10 17 24 31 274.1 274.0 274.7 275.5 274.9 281.9 279.4 277.8 277.6 276.5 150.1 149.9 150.1 149.8 149.9 148.5 148.8 149.5 149.7 150.2 119.6 119.5 119.5 119.1 119.0 128.5 126.5 125.6 122.5 121.0 4.4 4.6 5.1 6.6 5.9 4.9 4.1 2.8 5.4 5.2 Feb. 7 14 21 28 276.0 276.1 276.1 279.3 277.7 275.1 274.2 277.2 149.8 150.0 150.3 150.6 150.3 150.8 151.0 151.5 119.3 119.6 119.8 119.8 121.0 118.9 118.4 117.0 6.8 6.5 6.1 8.9 6.5 Mar. 6 13 20 27 279.1 278.4 277.3 277.5 278.3 276.5 277.4 276.9 150.1 151.1 151.0 151.3 151.1 152.3 152.2 152.4 119.8 120.0 119.9 120.3 119.0 119.1 119.6 118.4 9.2 7.3 6.5 6.0 7.5 5.1 5.5 6.1 Apr. 3 10 17 24 277.4 276.6 276.7 276.1 279.3 277.9 151.6 151.5 151.4 151.0 152.5 152.4 152.0 151.6 120.3 120.1 121.7 120.0 119.6 120.6 124.9 121.9 5.5 5.0 5.5 5.7 4.6 3.2 2.4 4.4 1 276.3 8 15 277.2 277.1 277.7 275.8 276.4 275.5 151.5 151.5 151.5 151.6 151.3 152.1 152.1 152.3 152.3 152.2 120.0 120.9 121.3 122.8 123.3 120.0 119.1 118.5 118.2 117.9 4.8 4.8 3.8 3.1 3.1 5.0 6.5 5.0 5.9 5.3 May 22 29 2/ 278.6 276.7 276.6 277.4 277.7 Break in series due to redefinition of time deposits effective June 9, 1966, which reduced total member bank deposits and time deposits by $850 million. 5.4 4.8 8.7 SA - 6 MONEY SUPPLY AND TIME DEPOISTS AT ALL COMMERCIAL BANKS (Dollar amounts in billions, based on monthly averages of daily figures) Monthly 1966--Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. Money Supply S.A. N.S.A. Currency S.A. N.S.A. Private Demand Deposits S.A. N.S.A. Time Deposits Adjusted N.S.A. S.A. 167.9 168.6 169.2 170.3 170.3 170.5 169.9 170.0 170.5 170.2 170.2 170.4 173.0 167.7 167.8 171.5 166.7 168.6 168.0 167.0 169.7 170.5 171.5 175.8 36.6 36.7 36.9 37.1 37.3 37.4 37.6 37.8 37.9 38.0 38.2 38.3 36.5 36.4 36.5 36.8 37.0 37.3 37.8 37.8 37.9 38.1 38.5 39.1 131.4 131.9 132.3 133.2 133.0 133.1 132.3 132.2 132.6 132.1 132.0 132.1 136.5 131.3 131.2 134.7 129.7 131.4 130.1 129.2 131.8 132.4 133.0 136.7 147.7 148.3 149.6 151.8 153.6 154.1 155.9 156.9 157.7 157.3 156.9 158.1 147.4 148.7 150.4 152.4 154.2 154.4 156.2 157.4 157.4 157.1 156.1 156.9 1967--Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. 170.3 171.8 173.2 172.5 174.4 176.0 177.8 178.9 179.1 180.2 181.0 181.3 175.3 170.6 171.9 173.6 171.0 174.2 175.7 175.8 178.3 180.5 182.4 187.1 38.5 38.7 38.9 39.0 39.1 39.3 39.4 39.5 39.7 39.9 40.1 40.4 38.5 38.3 38.5 38.6 38.8 39.2 39.6 39.6 39.7 40.0 40.5 41.2 131.8 133.0 134.3 133.5 135.3 136.7 138.4 139.4 139.4 140.2 141.0 140.9 136.8 132.2 133.4 134.9 132.2 135.0 136.2 136.2 138.5 140.5 141.9 145.9 161.0 163.5 165.9 168.1 170.1 172.6 174.8 177.2 179.4 180.6 182.0 183.5 160.6 164.0 166.7 168.8 170.8 173.0 175.2 177.8 179.0 180.4 181.3 182.0 1968--Jan. Feb. Mar. Apr. May 182.3 182.7 183.4 184.4 186.1 187.6 181.4 182.0 185.6 182.5 40.6 40.7 41.1 41.4 41.6 40.5 40.3 40.7 41.1 41.4 141.7 141.9 142.2 143.0 144.5 147.1 141.1 141.2 144.6 141.2 184.1 185.2 186.7 187.1 187.6 183.7 185.8 187.6 187.9 188.3 3/ 3/ Break in series due to redefinition of time deposits effective June 9, 1966, which reduced time deposits adjusted by $1,140 million. SA - 7 MONEY SUPPLY AND TIME DEPOSITS AT ALL COMMERCIAL BANKS (Dollar amounts in billions, based on weekly averages of daily figures) Money Supply S.A. N.S.A. Weekly Currency S.A. N.S.A. 4 11 18 25 170.7 170.6 170.4 170.3 178.7 177.1 176.4 173.2 38.5 38.5 38.5 38.5 1 8 15 22 170.5 171.1 171.4 172.3 172.5 172.3 171.0 169.4 38.6 38.6 38.7 38.8 1 8 15 22 29 172.4 172.8 173.2 173.2 173.3 169.2 170.6 172.2 173.5 171.2 38.7 38.8 38.9 38.9 39.0 38.1 38.7 5 12 19 26 173.1 172.8 172.3 172.0 172.9 173.9 175.2 172.6 39.0 39.0 39.0 39.0 38.5 38.9 May 3 10 17 24 31 172.8 173.0 174.8 174.7 175.4 172.6 171.3 171.7 169.2 170.8 June 7 14 21 28 175.7 175.8 176.0 176.2 July 5 12 19 26 Aug. Private Demand Deposits S.A. N.S.A. Time Deposits Adjusted 3/ S.A. N.S.A. 38.9 38.9 38.5 38.1 132.2 132.1 131.9 131.8 139.8 138.2 137.9 135.0 159.3 159.9 160.7 161.6 158.7 159.4 160.4 161.6 37.9 131.9 132.5 132.7 133.6 134.6 133.8 132.5 131.1 162.4 162.8 163.4 163.9 162.5 163.1 163.9 164.4 133.7 133.9 134.3 134.3 134.3 131.2 131.9 133.6 134.9 132.8 164.1 164.8 165.6 166.2 166.9 164.8 165.7 166.6 167.0 167.6 38.4 134.1 133.8 133.3 133.0 134.4 135.0 136.6 134.2 167.5 167.8 168.0 168.5 168.2 168.7 168.7 169.0 39.0 39.1 39.1 39.1 39.2 38.5 39.1 38.9 38.8 38.7 133.7 133.9 135.7 135.6 136.2 134.1 132.2 132.8 130.5 132.1 168.8 169.4 170.0 170.5 171.4 169.5 170.1 170.7 171.2 171.9 173.1 174.8 176.3 172.7 39.3 39.3 39.3 39.4 39.3 39.4 39.3 39.0 136.4 136.5 136.7 136.8 133.9 135.4 137.0 133.7 171.8 172.4 172.8 173.1 172.3 173.0 172.9 173.3 177.5 178.0 177.7 177.8 174.6 175.8 176.1 174.6 39.4 39.4 39.4 39.4 39.5 39.8 39.5 39.3 138.1 138.6 138.3 138.4 136.1 136.0 136.6 135.3 173.8 174.0 174.9 175.3 174.2 174.4 175.2 175.7 2 9 16 23 30 178.2 178.6 178.8 178.9 179.1 176.7 176.1 176.5 174.5 175.2 39.4 39.5 39.5 39.6 39.7 39.2 39.9 39.7 39.6 39.3 138.9 139.1 139.3 139.3 139.4 137.5 136.2 136.8 134.9 135.9 175.9 176.7 177.0 177.4 178.0 176.4 Sept. 6 13 20 27 179.4 179.4 178.5 179.2 177.3 178.9 179.4 177.1 39.7 39.7 39.8 39.9 39.9 39.7 39.5 139.6 139.7 138.8 139.4 139.4 139.0 139.7 137.7 178.7 179.1 179.3 179.8 178.9 179.1 178.8 179.1 1967--Jan. Feb. Mar. Apr. 39.8 38.5 38.5 38.3 38.6 38.6 38.4 38.7 177.2 177.7 178.0 178.5 SA - 8 Weekly Money Supply S.A. N.S.A. Time Deposits Adjusted 3/ S.A. N.S.A. 140.1 140.3 140.3 140.1 139.8 140.2 140.9 139.8 180.2 180.4 180.7 180.8 179.6 180.1 180.5 180.6 4 11 18 25 179.8 180.2 180.2 180.0 179.4 180.5 181.0 179.7 39.7 39.9 39.9 40.0 39.6 40.2 40.1 39.9 1 15 22 29 180.4 180.9 180.9 181.1 181.1 181.4 182.6 182.9 181.9 181.9 40.0 40.0 40.0 40.2 40.2 39.7 40.4 40.4 40.6 40.6 140.5 140.9 140.9 140.9 140.9 141.8 142.2 142.4 141.3 141.3 181.2 181.3 181.6 182.2 182.9 181.1 181.1 181.3 181.1 181.6 6 13 20 27 181.2 181.0 180.9 181.4 184.8 185.4 187.7 187.6 40.2 40.3 40.3 40.5 40.9 41.2 41.2 41.6 141.0 140.7 140.6 140.9 143.9 144.2 146.5 146.0 183.3 183.6 183.5 183.5 181.8 182.1 181.9 182.0 3 10 17 24 31 182.3 182.4 182.7 182.2 182.1 191.6 189.7 189.4 185.5 183.9 40.5 40.5 40.6 40.6 40.6 40.9 41.0 40.6 40.3 39.9 141.8 141.8 142.1 141.6 141.5 150.7 148.7 148.8 145.2 144.0 183.9 183.9 184.0 184.0 184.3 182.6 183.0 183.7 184.0 184.7 7 14 21 184.4 182.0 180.6 178.7 40.7 40.8 40.8 40.8 40.4 28 182.4 182.7 182.8 182.9 40.5 40.3 40.1 141.8 141.9 142.0 142.1 144.0 141.5 140.3 138.6 184.5 185.0 185.3 185.7 184.9 185.6 185.9 186.5 Mar. 6 13 20 27 183.1 183.6 183.3 183.6 181.6 182.5 181.5 181.2 40.9 41.0 41.1 41.2 40.6 40.9 40.8 40.6 142.2 142.5 142.2 142.4 141.0 141.6 141.7 140.7 186.0 186.7 186.8 187.0 186.9 187.7 187.7 187.9 Apr. 3 10 17 24 183.9 183.9 186.0 183.8 183.0 184.5 189.7 185.4 41.2 41.3 41.3 41.4 40.8 41.4 41.3 40.9 142.7 142.6 144.7 142.4 142.2 143.1 148.3 144.5 187.3 187.0 187.1 186.9 188.2 188.1 187.8 187.4 May 1 8 15 22 29 183.7 184.8 185.1 186.9 187.5 183.7 183.5 183.8 181.5 181.7 41.5 41.5 41.6 41.8 41.8 40.7 41.5 41.4 41.4 41.2 142.3 143.3 143.4 145.1 145.8 143.0 142.0 141.3 140.1 140.5 187.3 187.4 187.6 187.7 187.6 188.0 188.1 188.3 188.5 188.4 1967--Oct. Nov. 8 Dec. 1968--Jan. Feb. 3/ Currency S.A. N.S.A. Private Demand Deposits S.A. N.S.A. Break in series due to redefinition of time deposits effective June 9, 1966, which reduced time deposits adjusted by $1,140 million. 

Federal Reserve (1968, June 17). Greenbook/Tealbook. Greenbooks, Federal Reserve. https://whenthefedspeaks.com/doc/greenbook_19680618_part1

@misc{wtfs_greenbook_19680618_part1,
  author = {Federal Reserve},
  title = {Greenbook/Tealbook},
  year = {1968},
  month = {Jun},
  howpublished = {Greenbooks, Federal Reserve},
  url = {https://whenthefedspeaks.com/doc/greenbook_19680618_part1},
  note = {Retrieved via When the Fed Speaks corpus}
}