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FEDERAL RESERVE statistical release •Mm;- For Immediate Release January 31, 1980 H.9 (511) WEEKLY SUMMARY OF BANKING AND CREDIT MEASURES Averages of daily figures Levels Week ended 4 weeks ended Jan. 30 Jan. 23 J an. 30 Jan • 2 Billions of dollars, seasonally adjusted Percent change Average of 4 weeks ended January 30, 1980 from 4 weeks averages 13 weeks I 26 weeks 52 week: previous I previous previous Seasonally adjusted annual rates Reserve aggregates1 Total reserves Nonborrowed reserves Required reserves Monetary b a s e 2 43,697 41 876 43',322 155,447 43,203 42 006 42 ,*960 154,648 43,612 42 368 43^260 155,033 43,512 42 104 . 43,074 153,950 lliylliiii Reserve aggregates (adjusted) 3 Total reserves Nonborrowed reserves Required reserves Monetary b a s e 2 43,423 41,602 43,048 155,173 42,975 41,778 42,732 154,420 43,387 42,143 43,035 154,808 43,211 41,803 42,773 153,649 8.2 11.2 4.0 10.7 17.3 3.5 7.3 10.3 3.6 10.2 7.9 7.7 Average of 4 weeks ended January 23, 1980 from 4 weeks averages 13 weeks 26 weeks 52 weel previous previous previou Seasonal y adjusted annual rates Week ended Jan. 23p Monetary aggregates M-1 (Currency plus demand deposits) M-2 (M-1 plus time deposits at commercial banks other than large time CD's) Time deposits, all commercial banks Other reserve measures and interest rates Member bank borrowings ($ mil.) Includes seasonal borrowings of: Federal funds rate 3-month Treasury bill rate 90 day dealer placed commercial paper4 3-month CD rate (secondary market) 3-month Eurodollar rate U.S. Government bond rate5 Jan. 16p 4 weeks ended Jan. 23p Dec. 26p Billions of dollars, seasonally adjusted Mi 380.3 383.2 382.3 381.6 2.0 4.9 6.0 954.9 670.9 957.5 669.9 955.4 667.6 951.7 664.8 5.3 9.0 8.3 12.3 8.6 8.0 Week ended 4 weeks ended Jan. 30 | Jan. 23 "" Jan. 30 | Jan. 2 Not seasonally adjusted 1821 87 13.54 12.21 13.06 13.40 14.41 11.09 1197 78 13.77 12.08 13.02 13.36 14.20 10.72 1244 75 13.79 11.99 13.03 13.40 14.34 10.65 1408 77 13.81 12.09 13.30 13.47 14.53 10.20 1 Includes required reserves against deposits at member banks and Edge Act corporations; against bank related commercial paper; and marginal reserves against selected borrowings of member banks, Edge Act corporations and agencies and branches of foreign banks. Marginal required reserves averaged $ 244 million in the week ending January 30, 1980 and $ 229 million in the week ending January 23, 1980 2 Includes total reserves (reserve balances of member banks, Edge Act corporations and agencies and branches of foreign banks in the current week and vault cash held two weeks earlier); currency outside the U.S. Treasury, Federal Reserve banks and the vaults of commercial banks and vault cash of nonmember banks. 3 Reserve aggregates series have been adjusted to remove discontinuities associated with marginal reserve requirements and changes in other reserve requirement regulations. 4 On January 23, 1980 bank-related commercial paper outstanding was $ 21,539 million. 5 Yield at 20-year constant maturity. Source: U.S. Treasury. NOTE: All percentage changes are at seasonally adjusted annual rates, not compounded. p-Preliminary; special caution should be taken in interpreting week-to-week changes in money supply data, whicl are often highly volatile and subject to revision in subsequent weeks and months.