CFS Monetary Measures highlight shift in liabilities for December 2015…

Today we release CFS monetary and financial measures for December 2015. CFS Divisia M4, which is the broadest and most important measure of money, grew by 4.0% in December 2015 on a year-over-year basis versus 4.6% in November.

Higher rates are leading to the migration of liabilities away from time deposits.  For instance, the largest positive contributor to CFS Divisia M4 growth was commercial banks’ savings deposits (sweeps adjusted), contributing an increase of 2.6% in the last 12 months ending December 2015.  In contrast, the largest negative contributor to CFS Divisia M4 growth was commercial banks’ small time deposits, contributing a decrease of 0.4% in the last 12 months ending December 2015.

CFS Divisia indices can be found on our website at http://www.centerforfinancialstability.org/amfm_data.php. Broad aggregates are available in spreadsheet, tabular and chart form. Narrow aggregates can be found in spreadsheet form.

For Monetary and Financial Data Release Report:
http://www.centerforfinancialstability.org/amfm/Divisia_Dec15.pdf

Bloomberg terminal users can access our monetary and financial statistics by any of the four options:

1) {ALLX DIVM }
2) {ECST T DIVMM4IY}
3) {ECST} –> ‘Monetary Sector’ –> ‘Money Supply’ –> Change Source in top right to ‘Center for Financial Stability’
4) {ECST S US MONEY SUPPLY} –> From source list on left, select ‘Center for Financial Stability’

 

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