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^25?V/-/ FEDERAL RESERVE statistical release "fSfSS?: H.9 (511) For immediate r e l e a s e December 12, 1980 WEEKLY SUMMARY OF BANKING AND CREDIT MEASURES Averages of daily figures Levels Week ended 4 weeks ended Dec. 10 Dec. 3 Dec. 10 Nov. 12 Millions of dollars, seasonally adjusted Reserve aggregates 1 Total reserves Nonborrowed reserves Required reserves Monetary base2 39,578 37,792 39,268 158,900 40,569 38,427 39,688 159,901 30,188 38,157 39,685 159,393 42,222 40,575 41,951 161,899 Reserve aggregates (adjusted) 3 Total reserves Nonborrowed reserves Required reserves Monetary base2 39,557 37,771 39,247 158.879 40,548 38,406 39,667 159.880 40,,164 38,,133 39,,661 159,,369 39,349 37,702 39,077 158,125 Week ended Dec. 3p 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 paper* 3-month CD rate (secondary market) 3-month Eurodollar rate U.S. Government bond rate5 Nov. 26p 4 weeks ended Dec. 3p Nov. 5 p Billions of dollars, seasonally adjusted 388.7 388.9 413.9 413.9 Week ended Percent change Average of 4 weeks ended December 10, 1980 from 4 weeks averages 13 weeks 26 weeks 52 weeks previous previous previous Seasonally adjusted annual rates 18.4 14.3 8.2 5.1 7.3 7.8 16.1 12.7 7.5 11.4 9.2 U 4 Average of 4 weeks ended December 3, 1980 from 4 weeks averages 13 weeks 26 weeks 52 weeks previous previous previous Seasonal y adjusted annual rates 389.2 387.5 414.3 411.8 4 weeks ended Not seasonally adjusted 1786 111 18.82 16.17 18.02 18.73 19.46 12.58 2142 108 17.72 14.67 16.81 17.34 18.16 12.48 2031 107 17.30 14.67 16.43 17.00 17.61 12.45 1647 80 13.59 12.46 13.45 j. 3.95 14.87 ,2.20 I n c l u d e s r e q u i r e d 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 Ed> Act c o r p o r a t i o n s and b e g i n n i n g November 13, 1980, a t o t h e r d e p o s i t o r y i n s t i t u t i o n s . E f f e c t i v e No * 13, 1980 r e q u i r e d r e s e r v e s of member banks and Edge Act c o r p o r a t i o n s were reduced about $ 4 . 3 b i l l .oil .ad r e q u i r e d r e s e r v e s of o t h e r d e p o s i t o r y i n s t i t u t i o n s were i n c r e a s e d about $1.4 b i l l i o n due t o the 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 of 1980. 2 I n c l u d e s 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 d e p o s i t o r y i n s t i t u t i o n s i n t h e c u r r e n t week and v a u l t cash used to meet r e s e r v e r e q u i r e m e n t s h e l d two weeks e a r l i e r ) ; c u r r e n c y o u t s i d e t h e U.S. T r e a s u r y , F e d e r a l Reserve banks and t h e v a u l t s of commercial b a n k s ; and v a u l t cash of nonmember b a n k s . 3 Reserve a g g r e g a t e s s e r i e s have been a d j u s t e d t o remove d i s c o u n t i n u i t i e s a s s o c i a t e d w i t h 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 and changes i n o t h e r r e s e r v e r e q u i r e m e n t r e g u l a t i o n s . 4 On December 3, 1980 b a n k - r e l a t e d commercial p a p e r o u t s t a n d i n g was $25,118 m i l l i o n , 5 Yield a t 20-year c o n s t a n t m a t u r i t y . 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 changes a r e a t s e a s o n a l a d j u s t e d annual r a t e s , n o t compounded. p— I n d i c a t e s p r e l i m i n a r y d a t a . S p e c i a l c a u t i o n should be t a k e n i n i n t e r p r e t i n g week-to-week changes i n money supply d a t a , which a r e 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 s u b s e q u e n t weeks and months. 1
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