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FEDERAL RESERVE statistical release H.9 (511) For Immediate Release August 22, 1980 WEEKLY SUMMARY OF BANKING A N D CREDIT MEASURES Averages of daily figures Levels Week ended 4 weeks ended August 20 August 13 Reserve aggregates Total reserves Nonborrowed reserves Required reserves Monetary base2 41,161 40,817 40,768 158,493 39,905 39,515 39,816c 156,879 40,585 40,037 40,232c 157,601 43,624 43,312 43,349 159,351 Reserve aggregates (adjusted)- Revised 3 Total reserves Nonborrowed reserves Required reserves Monetary base 2 41,133 40,789 40,740 158,465 39,878 38,488 39,789 156,851 40,557 40,010 40,205 157,574 40,118 39,806 39,843 155,844 August 20 July 23 Millions of dollars, seasonally adjusted Week ended 4 weeks ended August 13p[August 6p August 13p July 16p Billions of dollars, seasonally adjusted Monetary aggregates M-1A (Currency plus demand deposits) M-1B (M-1A plus other checkable deposits) 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 paper* 3-month CD rate (secondary market) 3-month Eurodollar rate U.S. Government bond rate5 a ™ # ml 379.3 401.1 382.9 377.1 372.4 404.5 398.4 392.7 Week ended 4 weeks ended August 20 I August 13 August 201 July 23 Not seasonally adjusted 344 6 9.35 8.96 9.54 9.82 10.64 11.05 390 6 8.85 8.60 8.96 9.33 10.33 10.95 548 7 9.20 8.60 8.98 9.27 10.09 10.81 Percent change Average of 4 weeks ended August 20, 1980 from 4 weeks averages 13 weeks 52 weeks 26 weeks previous previous previous Seasonal y adjusted annual rates 3.8 3.1 5.9 13.4 8.2 7.4 2.4 2.9 5.5 9,4 7.4 8.1 Average of 4 weeks ended August 13, 1980 from 4 weeks averages 52 weeks 13 weeks 26 weeks previous previous previous Seasonal y adjusted annual rates 11.8 14.0 A^L 2.7 3.9 _Li2_ 312 6 9.08 7.94 8.36 8.63 9.36 10.21 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. Effective July 24, 1980 the 5 percent marginal reserve requirement on managed liabilities and the 2 percent supplementary reserve requirement against large time deposits was removed. These actions reduced required reserves about $3.2 billion. 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. Historical data have been revised to incorporate revised estimates of the impact of the removal of the 2 percent supplementary reserve requirement effective July 24, 1980. 4 On August 13, 1980 bank-related commercial paper outstanding was 22,872 million. 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. c—corrected.
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