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F E D E R A L R E S E R V E Levels 36.36 35.67 35.74 Total reserves Nonborrowed reserves Required reserves 35.41 35.05 35.11 35.14 34.87 34.90 Week ended 4 Wks. ended July 27 I July 20 I July 27 I June 29 ($ Bil., SA) 326.6 329.0 321.8 327.5 Monetary Aggregates 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 785.8 785.7 559.9 559.5 519.3 520.5 3.8 3.5 Week ended August 3 1 July H Other Reserve Measures & Interest Rates Member bank borrowings ($ mil.) Includes seasonal borrowings of: 1/ 34.96 34.67 34.86 3/ 598 69 5.80 5.37 5.49 5.65 5.65 6.11 7.66 295 69 5.45 5.19 5.38 5.43 5.38 5.78 7.60 For Immediate Release August 4, 1977 Percent Week ended 4 Wks. ended August 3 |July 27 August 3 |July 6 ($ Bil., SA) Reserve Aggregates— N3A--Not Seasonally Adjusted release WEEKLY SUMMARY' OF BANKING AND CREDIT MEASURES (Averages of daily figures) H .9 (Rev. 1/76) 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) 5J 3-rmonth Euro-dollar rate U.S. Government bond rate 6/ statistical 783.1 557.3 519.4 2.9 772.8 552.7 514.9 4.0 4 Wks. ended August 3l July 6 (NSA) 365 62 5.48 5.23 5.41 5.50 5.42 5.86 7.62 273 56 5.40 5.02 5.40 5.41 5.30 5.76 7.62 Change (Seasonally Adjusfed A n m . n 1 Average of 4 Weeks Ended August 3. 1977from 4 Week Averages 13 weeks previous I 26 weeks previous I 52 weeks previous 6.9 3.8 5.7 3.9 2.2 3.4 Average of 4 Weeks Ended July 27. 1977 13 weeks previous | 26 weeks previous 4.7 4.0 4.3 from 4 Week Averages I 52 weeks previous 7.5 7.8 7.0 9.6 7.7 9.8 5.8 9.6 11.1 10.8 mwmmmmmm 6.5 10.7 mi SA--Seasonally \djusted . 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 July 27, 1977 bank-related commercial paper amounted to8,088 million. 4/ Average of range of offering rates of negotiable certificatea 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. All percentage changes are at seasonally adjusted annual rates, not compounded. NOTE:
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