"Other Checkable Deposits"

Well this surprised me:

Graph #1

I found the "Currency Component of M1 Plus Demand Deposits" quite by accident. The blue line. The red line is M1. What's the difference?

M1 is made up of four things:

• Notes and Coins in Circulation
• Demand Deposits
• Traveler's Checks
• Other Checkable Deposits

The red line includes all four. The blue line includes only the first two. The gap between the red and blue lines is due to Traveler's Checks and Other Checkable Deposits. I looked at Traveler's Checks -- TVCKSSL -- some time back. Small potatoes.

If I add Traveler's Checks to the blue line, the gap between red and blue will be entirely due to "Other Checkable Deposits". Here you go:

Graph #2

Not much different, is it?

But I want to see the growth and change of Other Checkable Deposits as a portion of M1.

Graph #3