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0OfCOW-' FEDERAL RESERVE statistical release For Immediate Release April 11, 1980 H.9 (511) WEEKLY SUMMARY OF BANKING AND CREDIT MEASURES Averages of daily figures Levels Week ended 4 weeks ended Apr. 2 Apr. 9 Apr. 9 Mar. 12 Millions of dollars, seasonally adjusted Reserve aggregates 1 Total reserves Nonborrowed reserves Required reserves Monetary base2 45,341 42,955 44,954 158,140 44,248 41,986 43,850 157,318 44,283 41,706 43,998 157,243 43,673 41,124 43,418 156,208 Reserve aggregates (adjusted) 3 Total reserves Nonborrowed reserves Required reserves Monetary base 2 43,290 40.904 42,903 156,088 43,739 41,477 43,341 156,809 43,432 40,855 43,147 156,393 43,222 40,772 43,067 155,858 Week ended Monetary aggregates M-1A (Currency plus demand deposits) M-1B (M-1A plus other checkable deposits) 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 paper* 3-month CD rate (secondary market) 3-month Eurodollar rate U.S. Government bond rate5 4 weeks ended Apr. 2 Mar. 26 Apr. 2 Mar. 5 Billions of dollars, seasonally adjusted 374.3 391.5 374.4 391.3 375.0 392.0 375.8 392.4 Percent change Average of 4 weeks ended April 9, 1980 from 4 weeks averages 13 weeks 26 weeks 52 weeks previous previous previous Seasonally adjusted annual rates 6.4 2.0 6.9 -10.4 0.5 2.3 2.6 6.2 6.9 6.5 8.4 7.3 Average of 4 weeks ended April 2, 1980 from 4 weeks averages 13 weeks 26 weeks 52 weeks previous previous previous Seasonal y adjusted annual rates 3.7 4.2 4.0 4.5 6.4 7.5 Week ended 4 weeks ended Apr. 9 Apr. 2 Apr. 9 I Mar. 12 Not seasonally adjusted 2386 154 19.04 14.54 17.61 17.88 19.45 11.99 2262 165 19.39 14.80 17.22 17.97 19.60 12.48 2577 163 18.11 14.94 17.19 17.88 19.26 12.35 2550 116 15.53 14.17 15.15 15.78 16.87 12.54 :«=0g3H==5S :::::: 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 $2011 million in the week ending April 9, 1980 and $469 million in the week ending April 2, 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 April 2, 1980 bank-related commercial paper outstanding was $21,828 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-lndicates preliminary data. Special caution should be taken in interpreting week-to-week changes in money supply data, which are often highly volatile and subject to revision in subsequent weeks and months.
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