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.•'ol£Ov»'-. F E D E R A L R E S E R V E statistical release For Immediate Release WEEKLY SUMMARY OF BANKING AND CREDIT MEASURES (Averages of daily figures) April 6, 1978 H.9 (Rev. 9/77) Per cent Change (Seasonally Adjusted Annual Rates) Levels 4 Weeks ended Week ended April 5" March 29 April 5 | March ($ Bil., SA) Reserve Aggregates^ 36.89 36.59 36.55 Total reserves Nonborrowed reserves Required reserves Monetary Aggregates Other Reserve Measures & Interest Rates 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) 4J 3-month Euro-dollar rate U.S. Government bond rate 5/ \J 36.73 36.43 36.51 36.78 36.40 36.57 4 Weeks ended Week ended March 29 March 22 March 29| March 1 ($ Bil., SA) M 1 (Currency plus demand deposits) Ml (M plus time deposits at commercial banks other than large time CD's) Time deposits, all commercial banks U.S. Government demand deposits, member banks N S A — n o t seasonally adjusted 36.69 36.30 36.45 341.3 340.7 821.9 562.8 2.9 821.5 562.9 3.8 340.0 820.1 562.2 3.4 Average of 4 weeks ended April 5, 1978 13 weeks previous |26 weeks previous 4.4 7.3 4.8 6.3 8.5 6.4 from 4 week averages | 52 weeks previous 6.3 5.8 6.4 Average of 4 weeks ended March 29, 1978 from 4 waeks averages 13 weeks previous | 26 weeks previous |52 weeks previous 339.3 4.2 4.9 6.9 816.9 557.1 3.0 6.4 13.0 6.6 13.8 12.0 8.2 4 Weeks ended Week ended April 5 1 March 29 April 5 I March 8 (NSA) 304 45 6.86 6.39 6.76 6.95 6.80 7.40 8.31 386 51 6.82 6.27 6.75 6.86 6.74 7.34 8.24 305 46 6.81 6.29 6.75 6.87 6.76 7.30 8.22 377 52 6.78 6.42 6.76 6.89 6.75 x 7.30 8.23 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. 2/ On March 29, 1978 bank-related commercial paper amounted to 10,024 million. 3/ Average of range of offering rates of negotiable certificates of deposit with 3-month maturity in secondary market. 4/ Posted ranges - the annual interest rates most often quoted on new offerings of negotiable certificates of deposit in denominations of $100,000 or more. 5/ Yield at 20-year constant maturity. Source: U.S. Treasury NOTE: All percentage changes are at seasonally adjusted annual rates, not compounded.