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F

E

D

E

R

A

L

R

E

S

E

R

V

E

s t a t i s t i c a l

r e l e a s e

*%%%:%

•S

Percent Change (Seasonally Adjusted Annual Rai-p.sV

Levels
4 Wks. ended

Week ended

August 17
Reserve Aggregate!W
35.72
34.82
35.51

Total reserves
Nonborrowed reserves
Required reserves

11

($ B i K , SA)
35.65
35.07
35.55

Week ended
August 10" (August
M. (Currency plus demand deposits)
M_ (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

327.2

35.30
35.01
35.02

Wks . ended

328.7

328.2

323.7

777.4
787.1
786.0
554.4
558.7
558.2
517.5
521.3
522.0
2.8
3.5
4 Wks. ended
Week ended
August 17 [August 10 [August 17 July 20
(NSA)

Other Reserve Measures & Interest Rates

f3A--Not Seasonally Adjusted

35.65
35.06
35.42

1 July 20

J j.ugust IB- [July 13
(F Bil., SAT

Monetary Aggregates

Member bank borrowings ($ mil.)
Includes seasonal borrowings of:
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/

For Immediate Release
August 18, 1977

WEEKLY SUMMARY OF BANKING AND CREDIT tCASURES
(Averages of daily figures)

H.9
(Rev. 1/76)

900

3/

99
5.94
5.57
5.80
5.97
5.88
6.46
7.71

Average of 4 Weeks EndedAueust 17. 1977 from 4 Week Averages
13 weeks previous
1 26 weeks previous \ 52 weeks previous

8.1
3.0
7.6

5.8
2.9
5.9

4.9
3.6
4.9

Average of 4 Weeks Ended August 10, 1977 from 4 Week Averages
13 weeks previous
| 26 weeks previous
[ 52 weeks previous ~
9.4

SL4

7.3

10.9

10.4
7.1
9.6

11.1

10.0
11.6

6.7

11.1

584
74
5.70
5.40
5.60
5.76
5.65

6.21
7.67
SA--Seasonally \djusted.

1/ 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.
2/
Includes member bank deposits, loans sold to bank-related institutions, Euro-dollar borrowings of U.S. banks, and certain nondeposit items.
3/ On August 10, 1977
bank-related commercial paper amounted to 8235 million.
kj
Average of range of offering rates of negotiable certificates of deposit with three month maturity in secondary market.
5/ Posted rates • the annual interest rates most often quoted on new offerings of negotiable certificates of deposit in denominations of $100,000 or more.
6/ Yield at 20-year constant maturity. Source: U.S. Treasury.
NOTE:
All percentage changes are at seasonally adjusted annual rates, not compounded.