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LJr FEDERAL RESERVE statistical release H.9 (511) For Immediate Release April 25, 1980 WEEKLY SUMMARY OF BANKING AND CREDIT MEASURES Averages of daily figures Levels Week ended April 23 April 16 Percent change Average of 4 weeks ended 4 weeks ended April 23 March 26 Millions of dollars, seasonally adjusted Reserve aggregates 1 Total reserves Nonborrowed reserves Required reserves Monetary base 2 45,135 42,580 44,870 158,088 44,760 42,484 44,521 157,398 44,836 42,466 44,561 157.707 43,641 40,739 44,098 156,474 Reserve aggregates (adjusted) 3 Total reserves Nonborrowed reserves Required reserves Monetary base 2 43,691 41,136 43,426 156,644 43,147 40,871 42,908 155.785 43,419 41,049 43,143 156>290 43,243 40,341 42,992 1#,076 Week ended April 16p Monetary aggregates M-1A (Currency plus demand deposits) M-1B (M-1 A plus other checkable deposits) 4 weeks ended April 9P April 16 P| March 19p 373.1 390.9 373.3 390.7 Billions of dollars, seasonally adjusted 370.8 389.0 375.2 392.0 April 23, 1980 from 4 weeks averages 13 weeks 26 weeks 52 weeks previous previous previous Seasonal y adjusted annual rates 1.5 6.0 6.3 2.6 6.1 4.9 8.1 Average ot 4 weeks ended -10.1 2.6 2.6 ill April 16, 1980 from 4 weeks averages 13 weeks 26 weeks 52 weeks previous previous previous Seasonal y adjusted annual rates 0.5 1.4 2.9 3.6 5.3 6.3 Week ended April 23 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 2555 159 17.56 12.78 15.33 15.56 17.10 10.97 4 weeks ended A p r i l 21 r M a r c h ?fi \ A j i r i l 16 lot seasonally adjusted 2276 140 18.35 13.89 16.88 17.13 18.54 11.41 2370 155 18.59 14.00 16.76 17.14 18.67 11.71 2902 146 16.66 15.14 16.57 17.31 18.43 12.46 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 $ 1407 million in the week ending April 23, 1980 and $1573 million in the week ending April 16, 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 16, 1980 bank-related commercial paper outstanding was $ 21,737million. 5 Yield at 20-year constant maturity. Source: U.S. Treasury. NOTE: All percentage changes are at seasonally adjusted annual rates, not compounded. p— Indicates 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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