Full text of H.9 Weekly Summary of Reserves and Interest Rates : August 15, 1980

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FEDERAL RESERVE statistical release

For immediate r e l e a s e
August 15, 1980

H.9 (511)
WEEKLY SUMMARY OF BANKING AND CREDIT MEASURES
Averages of daily figures

Levels

Week ended

4 weeks ended

J u l y 16
August 6 August 13
August 13
Millions of dollars, seasonally adjusted
Reserve aggregates 1
Total reserves
Nonborrowed reserves
Required reserves
Monetary base2

39,876
39,486
39,500
156,89 7

40,725
39,897
39,727
15 7 , 7 9 8

41,078
40,527
40,597
157,807

43,747
43,443
43,417
159,193

Reserve aggregates (adjusted) 3
Total reserves
Nonborrowed reserves
Required reserves
Monetary base 2

39,846
39,456
39,470
156,868

40, ,699
39.,871
39,,701
157.,772

40,169
39,619
39,688
156,898

40,,180
39.,877
39,,851
155 ,627

Week ended

4 weeks ended

August 6p J u l y 9p
August 6p J u l y 30p
Billions of dollars, seasonally adjusted
Monetary aggregates
M-1A (Currency plus demand deposits)
M-1B (M-1 A plus other checkable deposits)

- ' C3"A>.
• c M

381.5
403.1

373.3
394.2

375.6
396.7

371.9
392.0

Percent change
Average of 4 weeks ended
August 13, 1980
from 4 weeks averages
52 weeks
26 weeks
13 weeks
previous
previous
previous
Seasonally adjusted annual rates

5..1
2..6
6,.5
6..4
4,.4
1..3
8 .1
7..2
Average of 4 weeks ended
August 6 , 1980
from 4 weeks averages
52 weeks
26 weeks
13 weeks
previous
previous
previous
Seasonal y adjusted annual rates

0,.1
14,.1
- 2 , .3
8,.3

9.9
11.7

2.4
4.3

3.6
4.9

4 weeks ended
Week ended
August 13 | August 6 A u s u s t 13 I J u l y 16
Not seasonally adjusted
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 p a p e r 4
3-month CD rate (secondary market)
3-month Eurodollar rate
U.S. Government bond rate5

390
6
8.85
8.60
8.96
9.33
10.33
10.95

828
7
9.60
8.65
9.01
9.33
10.09
10.76

550
7
9.03
8.34
8.69
8.96
9.72
10.61

303
6
9.18
7.75
3.29
8.58
9.38
10.07

1 I n c l u d e s r e q u i r e d r e s e r v e s a g a i n s t d e p o s i t s a t member b a n k s and Edge Act c o r p o r a t i o n s ; a g a i n s t bank r e l a t e d comm e r c i a l p a p e r ; and m a r g i n a l r e s e r v e s a g a i n s t s e l e c t e d b o r r o w i n g s of member b a n k s , Edge Act c o r p o r a t i o n s and
a g e n c i e s and b r a n c h e s of f o r e i g n b a n k s . E f f e c t i v e J u l y 24, 1980 t h e 5 p e r c e n t m a r g i n a l r e s e r v e r e q u i r e m e n t on
managed l i a b i l i t i e s and t h e 2 p e r c e n t s u p p l e m e n t a r y r e s e r v e r e q u i r e m e n t a g a i n s t l a r g e t i m e d e p o s i t s was removed.
These a c t i o n s r e d u c e d r e q u i r e d r e s e r v e s a b o u t $ 3 . 2 b i l l i o n .
2 I n c l u d e s t o t a l r e s e r v e s ( r e s e r v e b a l a n c e s of member b a n k s , Edge Act c o r p o r a t i o n s and a g e n c i e s and b r a n c h e s of
f o r e i g n b a n k s i n t h e c u r r e n t week and v a u l t c a s h h e l d two weeks e a r l i e r ) ; c u r r e n c y o u t s i d e t h e U.S. T r e a s u r y ,
F e d e r a l R e s e r v e b a n k s and t h e v a u l t s of commercial b a n k s ; and v a u l t c a s h of nonmember b a n k s .
3 Reserve a g g r e g a t e s s e r i e s h a v e b e e n a d j u s t e d t o remove d i s c o n t i n u i t i e s a s s o c i a t e d w i t h m a r g i n a l r e s e r v e r e q u i r e ments and c h a n g e s i n o t h e r r e s e r v e r e q u i r e m e n t r e g u l a t i o n s .
4 On August 6 , 1980 b a n k - r e l a t e d c o m m e r c i a l p a p e r o u t s t a n d i n g was $ 2 2 , 6 3 3 m i l l i o n .
5 Yield at 20-year c o n s t a n t m a t u r i t y .
S o u r c e : U.S. T r e a s u r y .
NOTE: A l l p e r c e n t a g e c h a n g e s a r e a t s e a s o n a l l y a d j u s t e d a n n u a l r a t e s , n o t compounded.
p-Indicates preliminary data.
S p e c i a l c a u t i o n s h o u l d be t a k e n i n i n t e r p r e t i n g w e e k - t o - w e e k c h a n g e s i n money
s u p p l y d a t a , which a r e o f t e n h i g h l y v o l a t i l e and s u b j e c t t o r e v i s i o n i n s u b s e q u e n t weeks and m o n t h s .