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.ASSte.-. FEDERAL RESERVE statistical release ** H.9(511) f^AL • For Release at 4:15 p.m. Eastern Time August WEEKLY SUMMARY OF RESERVES AND INTEREST RATES 5, 1983 Averages of dally figures Levels 4 weeks ended Week ended Aug 3P July 27P Aug 3P July 6P Millions of dollars, seasonally adjusted Reserve aggregates (adjusted)1 Total reserves 2 Nonborrowed reserves Nonborrowed reserves plus extended credit 3 Required reserves Monetary base 4 42,042 40,727 41,172 41,474 185,845 41,946 40,557 41,021 41,563 1 8 5 , 173 41,888 40,617 41,067 4 1 , 4 50 185,100 3 July 27 Aug 3 July 1 6 Not seasonally adjusted Other reserve measures and Interest rates Discount window borrowing ($ mil.) Includes: seasonal borrowings of extended credit of Federal funds rate 3-month Treasury bill rate 90 day dealer placed commercial paper 5 3-month CD rate (secondary market) 3-month Eurodollar rate U.S. Government bond rate 6 1 1315 192 445 9.59 9 . 31 9.49 9.71 1 0 . 30 11.99 1389 203 464 9.46 9.08 9.27 9.52 10.04 11.64 1271 190 451 9.42 9.15 9.33 9.57 10. 1 1 11.69 7.4 5.7 6.8 7.0 8.9 9.7 5.4 6.8 9.9 10.0 5.2 1.0 1. 1 5.5 7.8 4 weeks ended Week ended Aug 4 1,891 39,926 41,057 41,366 184,594 Percent change Average of 4 weeks ended August 3 , 1983P from 4 weeks averages 26 weeks 52 weeks 13 weeks previous previous previous Seasonally adjusted annual rates 1965 130 1131 9.07 8 . 86 9.07 9.26 9.72 1 1 . 16 i i i l l l i i l ! UlgllUN#;#1BIIIIIIIII SIBlSllilH lllililPlli i R e s e r v e a g g r e g a t e s i n c l u d e r e q u i r e d r e s e r v e s o f member b a n k s a n d E d g e A c t C o r p o r a t i o n s a n d o t h e r d e p o sitory institutions. 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 with t h e i m p l e m e n t a t i o n of t h e Monetary C o n t r o l Act, t h e i n c l u s i o n of Edge Act C o r p o r a t i o n r e s e r v e s , a n d o t h e r c h a n g e s i n R e g u l a t i o n 0 h a v e b e e n r e m o v e d . 2 R e s e r v e b a l a n c e s w i t h F e d e r a l R e s e r v e Banks p l u s v a u l t c a s h a t i n s t i t u t i o n s w i t h r e q u i r e d r e s e r v e balances plus v a u l t cash equal to required reserves at other i n s t i t u t i o n s . 3 E x t e n d e d c r e d i t c o n s i s t s of b o r r o w i n g a t t h e d i s c o u n t window u n d e r t h e t e r m s and c o n d i t i o n s e s t a b l i s h e d for the extended c r e d i t program to h e l p d e p o s i t o r y i n s t i t u t i o n s deal with s u s t a i n e d l i q u i d i t y pressures. Because t h e r e i s n o t t h e same need t o r e p a y such borrowing promptly as t h e r e i s with t r a d i t i o n a l s h o r t t e r m a d j u s t m e n t c r e d i t , t h e money m a r k e t i m p a c t o f e x t e n d e d c r e d i t i s s i m i l a r t o t h a t o f n o n b o r r o w e d reserves, 4 C o n s i s t s of r e s e r v e b a l a n c e s and s e r v i c e - r e l a t e d b a l a n c e s and a d j u s t m e n t s a t F e d e r a l R e s e r v e Banks i n t h e c u r r e n t week p l u s v a u l t c a s h h e l d t w o w e e k s e a r l i e r u s e d t o s a t i s f y r e s e r v e r e q u i r e m e n t s a t a l l d e p o s i t o r y i n s t i t u t i o n s p l u s c u r r e n c y o u t s i d e t h e Ti.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 , t h e v a u l t s o f d e p o s i t o r y i n s t i t u t i o n s , and s u r p l u s v a u l t cash a t d e p o s i t o r y i n s t i t u t i o n s . 5 On J u l y 2 7 , 19 83 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 w a s $ 3 5 , 9 8 0 m i l l i o n . 6 Yield at 20-year c o n s t a n t m a t u r i t y . Source: O.S. T r e a s u r y . Note: All p e r c e n t a g e changes 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 , not compounded. P—indicates preliminary data.
@FedFRASER