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•FEDERAL RESERVE statistical release For Immediate Release August 8, 1980 H.9 (511) -WEEKLY SUMMARY OF BANKING AND CREDIT MEASURES Averages of daily figures — Levels Week ended 4 weeks ended July 9 August 6 J u l y 30 August 6 Millions of dollars, seasonally adjusted 1 Reserve aggregates 1 Total reserves Nonborrowed reserves Required reserves Monetary base 2 40,807 39,979 39,727 157,632 40,541 39,912 39,977 157,148 42,069 41.533 41,577 158,434 43,700 43,381 43,414 158,942 Reserve aggregates (adjusted) 3 Total reserves Nonborrowed reserves Required reserves Monetary base 2 40,781 39,953 39,701 157,606 40,515 39,886 39,951 157,122 40,278 39,742 39.786 156.642 40,134 39,815 39,849 155.376 Week ended J u l y 30p July 23p 4 weeks ended J u l y 30p July 2 Billions of dollars, seasonally adjusted Monetary aggregates M-1A (Currency plus demand deposits) M-1B (M-1 A 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 paper4 3-month CD rate (secondary market) 3-month Eurodollar rate U.S. Government bond rate5 371.1 333.3 373.0 373.4 390.8 194.2 394.0 394.3 4 weeks ended Week ended August 6 | J u l y 9 J u l y 30 August 1> Not seasonally adjusted 828 7 9«.60 8 , ,65 9,.01 9,.33 10,.09 10,.76 629 7 8.98 8.19 8.42 8.61 9.30 10.46 536 7 9.06 8.19 8.55 8.80 9.50 10.45 Percent change Average of 4 weeks ended August 6 , 1980 from 4 weeks averages 52 weeks 13 weeks I 26 weeks previous previous | previous Seasonally adjusted annual rates 0.5 18.1 -1.6 8.2 2.1 5.5 5.9 7.0 1.2 4.7 6jl9 8.1 Average of 4 weeks ended J u l y 30, 1980 from 4 weeks averages 52 weeks 26 weeks 13 weeks previous previous previous Seasonal y adjusted annual rates 6.9 8.5 1.6 3.4 3.0 4.4 319 7 9,.19 7,.36 8,.18 8,.44 9 .27 9 .90 % 1 Includes required r e s e r v e s a g a i n s t d e p o s i t s a t member banks and Edge Act c o r p o r a t i o n s ; a g a i n s t bank r e l a t e d com mercial paper; and marginal r e s e r v e s a g a i n s t s e l e c t e d borrowings of member banks, Edge Act c o r p o r a t i o n s and a g e n c i e s and branches of f o r e i g n banks. E f f e c t i v e July 24, 1980 the 5 percent marginal r e s e r v e r e q u i r e m e n t on managed l i a b i l i t i e s and the 2 p e r c e n t supplementary r e s e r v e requirement a g a i n s t l a r g e time d e p o s i t s was removed These a c t i o n s reduced required r e s e r v e s about $ 3 . 2 b i l l i o n . 2 Includes t o t a l r e s e r v e s ( r e s e r v e b a l a n c e s of member banks, Edge Act c o r p o r a t i o n s and a g e n c i e s and b r a n c h e s of f o r e i g n banks i n the c u r r e n t week and v a u l t cash h e l d two weeks e a r l i e r ) ; currency o u t s i d e the U.S. Treasury, # Federal Reserve banks and the v a u l t s of commercial banks; and v a u l t cash of nonmember banks. 3 Reserve a g g r e g a t e s s e r i e s have been adjusted to remove 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 w i t h marginal r e s e r v e r e q u i r e ments and changes i n o t h e r r e s e r v e requirement r e g u l a t i o n s . 4 On July 30, 1980 b a n k - r e l a t e d commercial paper o u t s t a n d i n g was $ 2 2 , 4 3 7 m i l l i o n . 5 Y i e l d a t 20-year c o n s t a n t m a t u r i t y . Source: U . S . Treasury. NOTE: A l l percentage changes are a t s e a s o n a l l y adjusted annual r a t e s , not compounded. p - I n d i c a t e s preliminary d a t a . S p e c i a l c a u t i o n should be taken i n i n t e r p r e t i n g week-to-week changes in money # supply d a t a , which are o f t e n h i g h l y v o l a t i l e and s u b j e c t to r e v i s i o n i n subsequent weeks and months.
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