Beginning in 1973:Q2, series is zero. This series is an adjustment that was required because data for the money supply for 1959:Q4 through 1973:Q1 overstated cash items in process of collection; deposits generating these cash items had not been included in the gross deposit data entering into the calculation of the money supply. For a discussion of the adjustment, see ""Money Stock Measures and Related Data,"" paragraphs on Eliminating duplication, in FR Board volume Banking and Monetary Statistics, 1941-1970, p. 6.
Last edited on: 10/09/2009