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FEDERAL RESERVE statistical release [[[[ •f For Release at 4:10 p.m. EOT H.9(511) AUGUST 6 , WEEKLY SUMMARY OF BANKING AND CREDIT MEASURES Averages of daily figures Percent change Average of 4 weeks ended Levels 4 weeks ended Week ended AUG Reserve aggregates (adjusted) 1 Total reserves 2 Nonborrowed reserves Nonborrowed reserves plus extended credit 3 Required reserves Monetary base 4 JULY AUG 4 P JULY 2 8 P 4P Millions of dollars, seasonally adjusted 41,676 40,996 41,016 41,343 173,376 41,749 41,201 41,225 41,417 172,799 1982 41,462 40,867 40,903 41,173 172,623 . 7P 41,550 40,393 40,488 41,180 172,374 AUGUST 4 , 1 9 8 2 P from 4 weeks averages 52 weeks 13 weeks 26 weeks previous previous previous Seasonally adjusted annual rates 0.8 10.8 8.7 1.0 6.2 4.5 7.1 7.2 4.6 0.3 5.2 4.4 0.8 6.2 5.9 Average of 4 weeks ended 4 weeks ended Week ended JUNE 3 0 P JULY 2 8 P JULY 2 1 P JULY 2 8 P Billions of dollars, seasonally adjusted M1 Sum of currency, travelers checks, demand deposits, and other checkable deposits. 450.5 451.4 451.4 JULY 2 8 Not seasonally adjusted 680 548 20 24 166 11.15 9.92 11.25 11.63 12.68 13. 53 450.6 4 weeks ended Week ended 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 8 3-month CD rate (secondary market) 3-month Eurodollar rate U.S. Government bond rate 6 JULY 2 8 , 1 9 8 2 P from 4 weeks averages 52 weeks 261 weeks 13 weeks previous previous previous Seasonally adjusted annual rates 188 11.02 10.51 11.68 12.08 13.08 13.58 JULY liiiiilllilliil 596 206 37 11.87 10.84 12.31 12.80 13.72 13.62 liiBiiiiiie 14.42 12.63 14.34 14.87 15.80 14.29 Hi::!:::!:::::!! : ll^ iiiiiiii RESERVE AGGREGATES INCLUDE REQUIRED RESERVES OF MEMBER BANKS AND EDGE ACT CORPORATIONS AND OTHER DEPOSITORY I N S T I T U T I O N S . DISCONTINUITIES ASSOCIATED WITH THE IMPLEMENTATION OF THE MONETARY CONTROL ACT, THE INCLUSION OF EDGE ACT CORPORATION .RESERVES, AND OTHER CHANGES I N REGULATION D HAVE BEEN REMOVED. BEGINNING WITH THE WEEK ENDED DECEMBER 3 1 , 1 9 8 1 RESERVES AGGREGATES HAVE BEEN REDUCED BY SHIFTS OF RESERVABLE L I A B I L I T I E S TO INTERNATIONAL BANKING F A C I L I T I E S ( I B F S ) . 2 RESERVE BALANCES WITH FEDERAL RESERVE BANKS (WHICfl EXCLUDE jRBQUIRBD CLEARING BALANCES) PLUS VAULT CASH AT INSTITUTIONS WITH REQUIRED RESERVE BALANCES PLUS VAULT CASH EQUAL TO REQUIRED RESERVES AT OTHER INSTITUTIONS 3 EXTENDED CREDIT CONSISTS Of BOBBOBIBG AT THE DISCOUNT BINDOS OHDEB THE TBBHS AND CONDITIONS ESTABLISHED FOB THE EXTENDED CBEDIT PBOGBAH TO HELP DEPOSITOBX INSTITUTIONS DEAL WITH SUSTAINED LIQUIDITY PBESS0BES. BECAUSE THERE I S NOT THE SAHE NEED TO BEPAI SUCH B0BB0WIN6 PBOBPTLI AS THEBE I S BITH TBADITIONAl SBOBTTEBB ADJOSTBENT CBEDIT, THE HONEI HABKET IHPACT OP EXTENDED CBEDIT I S S I H I L A B TO THAT OP BONBOBBOBED .RESERVES. 4 INCLUDES RESERVE BALANCES AND REQUIRED CLEARING BALANCES AT FEDERAL RESERVE BANKS I N THE CURRENT WEEK PLUS VAULT CASH HELD TWO WEEKS EARLIER USED TO S A f l S F Y RESERVE REQUIREMENTS AT ALL DEPOSITORY I N S T I T U TIONS PLUS CURRENCY OUTSIDE THE U . S . TREASURY, FEDERAL RESERVE BANKS, THE VAULTS OF REPOSITORY I N S T I T U TIONS, AND SURPLUS VAULT CASH AT DEPOSITORY I N S T I T U T I O N S . 5 ON JULY 2 8 , 1 9 8 2 BANK-RELATED COMMERCIAL PAPER OUTSTANDING WAS $ 37,327 MILLION. 6 YIELD AT 20-YEAR CONSTANT.MATURITY. SOURCE: U . S . TREASURY. NOTE: ALL PERCENTAGE CHANGES ARB AT SEASONALLY ADJUSTED ANNUAL RATES, NOT COMPOUNDED. P—INDICATES PRELIMINARY DATA. SPECIAL CAUTION SHOULD BE TAKEN I N INTERPRETING WBEK-IOWEEK CHANGES I N MONEY SUPPLY DATA, WHICH ARB OFTEN HIGHLY VOLATILE AND SUBJECT TO REVISION I V SUBSEQUENT WEEKS AND MONTHS. 1
@FedFRASER