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*y>r y 1 ^ 3 ^ F E J L E - R - A , L 1 \ H 9 ^ (Re^/T/7: AUG & ,3 1913 R E S E R V s t a t i s t i c a l E r e l e a s e For Immediate Release WEEKLY SUMMARY OF BANKING AND CREDIT MEASURES (Averages of daily figures) August 23, 1973 Percent Change (Seasonal 1y AdjnsfP-ri Annnal Rafp.fi)_ Aug. 22 Reserve Aggregates 1/2/ Total reserves Nonborrowed reserves Required reserves Reserves Available to Support Pvt. Nonbank Deposits 33.73 31.82 33.77 31.73 4 Wks . ended 1 Aug. ~15 Aue» 22 I July 25 ($ Bil., SA) 33.93 32.23 33.65 31.98 Week ended Aug. 15 Monetary Aggregates M 1 (Currency plus demand deposits) MT (M. plus time deposits at commercial banks other than large time CD's) Adjusted credit proxy 3/ Time deposits, all commercial banks . Government demand deposits, member banks 33.84 32.07 33.65 31.90 4 W k s . ended I Aug. 8 I A u g . 1 5 ($ Bil., SA) " 263.9 264.2 549.0 441.4 548.7 440.9 351.0 4.0 546.8 436.8 346.2 4.2 22,1 Aug. 15 Federal funds rate 3-month Treasury bill rate 90-119 day dealer placed commercial paper rate 4/ 3-month CD rate (secondary market) 5f 3-month Euro-dollar rate U.S. Government bond rate 6/ H5A--Not Seasonally Adjusted, JL/ 2135 163 10.52 8.81 10.25 10.71 11.31 I July 18 263.6 221 Other Reserve Measures & Interest Rates Member bank borrowings ($ mil.) I n c l u d e s s e a s o n a l b o r r o w i n g s of: 33.43 32.23 33.18 31.10 ^10.39 2038 153 10.47 .89 10.25 8.62 10.11 1916 10.81 11.43 7.74 10.55 11.40 Average of 4 Weeks Ended August 22. ' 73from 4 Week Averages 13 weeks previous 1 26 weeks previous I 52 weeks previous 5.9 16.2 6.7 7.1 J:I 7.4 10.9 8.7 4.3 A:l Average of 4 Weeks Ended Aug. 15. 1973 from 4 Week Averages 13 weeks previous | 26 weeks previous | 52 weeks previous J u l y 25 l lll 10.13 7.89 9.03 9.22 10.02 SA--Seasonally Adjusted. Includes required reserves against Euro-dollar borrowings and bank-related commercial paper. Reserves Available to Support Private. Nonbank Deposits are required reserves for private demand deposits, total time and savings deposits, nondeposit sources subject to reserve requirements and excess reserves. Reserve aggregates reflect the change in Regulation D effective November 9, 1972, which reduced required reserves by about $3.2 billion} and e f f e c t i v e July 19, 1973, w h i c h increased required r e s e r v e s by about $800 m i l l i o n . E f f e c t i v e July 12, 1973, 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 s on ineligible a c c e p t a n c e s increased required r e s e r v e s b y about $90 m i l l i o n . P e r cent a n n u a l rates of growth for required reserves- and other r e s e r v e aggregates h a v e b e e n adjusted to r e m o v e the effect of these s t r u c t u r a l c h a n g e s . ' 2/ Adjusted to include c e r t a i n r e s e r v e d e f i c i e n c e s on w h i c h penalties c a n be w a i v e d for.a t r a n s i t i o n period in c o n n e c t i o n w i t h b a n k a d a p t i o n to R e g u l a t i o n J as amended e f f e c t i v e N o v e m b e r 9, 1972. T h e adjustment amounted to $ 4 5 0 m i l l i o n from N o v e m b e r 9 to D e c e m b e r 27, 1972; $279 m i l l i o n f r o m D e c e m b e r 28, 1972 to M a r c h 28, 1973; $172 m i l l i o n from M a r c h 29, 1973 to June 27, 1973; and $ 1 1 2 m i l l i o n t h e r e a f t e r . " 3/ Includes m e m b e r b a n k d e p o s i t s , 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 . E u r o d o l l a r b o r r o w i n g s of U.S. b a n k s , and c e r t a i n n o n d e p o s i t items. 4/ On A u g u s t 15 b a n k - r e l a t e d c o m m e r c i a l paper a m o u n t e d , t o $ 4,825 m i l l i o n . 5/ A v e r a g e of range of o f f e r i n g rates of n e g o t i a b l e c e r t i f i c a t e s of deposit w i t h 3-month m a t u r i t y in second m a r k e t . 6/ D a i l y a v e r a g e yield on 2 0 - y e a r b o n d s . Source: 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 are at seasonality-ad-justed annual r a t e s , not c o m p o u n d e d . ^
@FedFRASER