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F E D E R A L R E S E R V s t a t i s t i c a l E For Immediate Release WEEKLY SUMMARY OF BANKING AND CREDIT MEASURES (Averages of daily figures) H.9 (Rev. 1/76) 4 Wks. ended Week ended Apr-n ^ lAoril 6 lApril 13 I March 16 ($ Bil., SA) Reserve Aggregates—^ 34.26 34.22 33,97 Total reserves Nonborrowed reserves Required reserves 34.58 34.51 34.30 Monetary Aggregates 319.1 M. (Currency plus demand deposits) MI (M, plus time deposits at commercial banks other than large time CD's) Adjusted credit proxy 2/ Time deposits, all commercial banks U.S. Government demand deposits, member banks 34.46 34.33 34.19 34.21 34.18 34.01 4 Wks. ended Week ended Apr-M A I March id April 6 ($ Bil., SA) 314.1 316.2 I March 9 314.1 750.9 540.3 499.8 502.8 2.7 * 2.8 2.0 2.6 4 Wks. ended Week ended -i April J 3 - March 16 April n I April 6 (NSA) 754.7 541.2 503.1 Member bank borrowings ($ mil.) Includes seasonal borrowings of: 3 8 Federal funds rate 3-month Treasury bill rate 90-119 day dealer placed commercial paper rate 3-month CD rate (secondary market) 4/ 90-day CD rate (primary offering) 5/ 3-month Euro-dollar rate U.S. Government bond rate 6/ 4.65 4.58 4.75 4,84 4.75 5.27 7.77 Other Reserve Measures & Interest Rates V 4.60 4.56 4.75 4.85 4.71 5.18 7.72 756.7 543.7 HI 4.69 4.58 4.75 4.82 4,73 5.19 7.74 OOCM CNH 761.5 546.5 504.9 April 14, 1977 Percent Change (Seasonally Adjusted Annual Ralefi)- Levels N5A--Not Seasonally Adjusted r e l e a s e 4.67 4.65 4.75 4.84 4.72 5.10 7.72 SA--Seasonally \djusted. Avera^e of 4 Weeks Ended April 13. 1977 from 4 Week Averages 13 weeks previous 1 26 weeks previous 1 52 weeks previous -1.8 -2.8 -1.1 2.9 2.7 2.7 4.1 3.7 3.7 Average of 4 Weeks Ended April 6. 1977 13 weeks previous | 26 weeks previous from 4 Week Averages | 52 weeks previous —m • 4.0 5.5 5.9 8.2 10.5 6.9 10.6 2.7 8.7 5.2 9.6 12.0 m Includes required reserves against Euro-dollar 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. Includes member bank deposits, loans sold to bank-related institutions, Euro-dollar borrowings of U.S. banks, and certain nondeposit items. On April 6, 1977 bank-related commercial paper amounted to 7807 million. Average of range of offering rates of negotiable certificates of deposit with three month maturity in secondary market. Posted rates = the annual interest rates most often quoted on new offerings of negotiable certificates of deposit in denominations of $100,000 or more. Yield at 20-year constant maturity. Sources U.S. Treasury. I NOTE: All percentage changes are at seasonally adjusted annual rates, not compounded. 1/ %