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FEDERAL

RESERVE

statistical

For Immediate Release

WEEKLY SUMMARY OF BANKING AND CREDIT MEASURES
(Averages of daily figures)

H.9
(Rev. 9/77)

Week ended
J u l y 12 j J u l y
Reserve Aggregates^
37.26
36.35
37.45

Total reserves
Nonborrowed reserves
Required reserves

38,90
37.70
38.10

4 Weeks ended
July 11 | June I T
($ Bil., SA)
37.94
36.68
37.65

37.39
36.50
37.19

Week ended
Wfeeks ended
July 5
J u n e 28 I J u l y 5
June 7
($ Bil., SA)

Monetary Aggregates

%

J u l y 1 3 , 1978

Per cent Change (Seasonally Adjusted Annual Rates)

Levels

Average of 4 weeks ended J u l y 1 2 , 1978
13 weeks previous j26 weeks previous

12.8
2.3

11.6

354.8

349.9

351.3

349.5

11.5

847.4
579.6
6.2

841.4
577.3
3.3

842.2
577.6
4.4

837.5
575.4
2.7

9.3
9.9

Other Reserve Measures & Interest Rates

Week ended
4 Weeks ended
J u l y 12 I J u l y 5
J u l y 1 2 j June 14
(NSA)

Member bank borrowings ($ mil.)
Includes seasonal borrowings of:
Federal funds rate
3-month Treasury bill rate
90-119 day dealer placed commercial paper 2/
3-month CD rate (secondary market) 3/
90-day CD rate (primary offering) 4/
3-month Euro-dollar rate
U.S. Government bond rate 5/
MSA—not seasonally adjusted

904
130
7.72
7.15
7.84
8.11
8.00
8.46
8.71

1194
140
7.72
6.99
7.78
8.07
8.00
8.63
8.65

1252
132
7.69
6.94
7.76
8.04
7.94
8.56
8.62

9.3
5.5
9.1

from 4 week averages
| 52 weeks previous

8.2
5.4

8.1

Average of 4 weeks ended J u l y 5 , 1978
from 4 waeks averages'
13 weeks previous
| 26 weeks previous |52 weeks previous

(Currency plus demand deposits)
(M. plus time deposits at cot Brcial banks
other than large time CD's)
Time deposits, all commercial banks
U.S. Government demand deposits, member banks

1/

release

8.0

8.1

8.1

8.5
12.3

11.5

885
109
7.44
6.57
7.30
7.56
7.44
7.99
8.48

SA—seasonally adjusted

Includes required reserves against Eurodollar borrowings and bank-related commercial paper.
„ „
Reserve aggregates reflect changes in Regulation D. Per
cent annual rates of growth for required reserves and other reserve aggregates have been adjusted to remove the effect of these structural changes.
On
J u l y 5, 1978
bank-related commercial paper amounted to 11,639 million.
Simple average of offering rates of negotiable certificates of deposit with 3-month maturity in secondary market.
ranges* the amninl interest rates most often quoted on new offerings of negotiable certificates of deposit in denominations of $100,000 or more.
Yield at 2fr-year constant maturity. Source: TT.S. Treasury
10TB: All percentage changes are at seasonally adjusted annual rates, not compounded.

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