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FEDERAL RESERVE statistical release H.9 (511) For Immediate Release December 20, 1979 WEEKLY SUMMARY OF BANKING AND CREDIT MEASURES Averages of daily figures Levels Week ended Dec. 19 Dec. 12 4 weeks ended Dec. 19 Nov. 21 Millions of dollars, seasonally adjusted Reserve aggregates 1 Total reserves Nonborrowed reserves Required reserves Monetary base 2 Percent change Average of 4 weeks ended 43,321 41,636 43,153 153,415 43,838 42,547 43,252 153,764 43,465 41,761 43,184 153,335 43,193 41,016 42,898 152,911 42,993 41,309 42,825 153,088 43,441 42,149 42,855 153,367 43,055 41,351 42,774 152,925 42,711 40,594 42,476 152,489 December 19, 1979 from 4 weeks averages 13 weeks | 26 weeks 52 weeks previous | previous previous Seasonally adjusted annual rates Reserve aggregates (adjusted) 3 Total reserves Nonborrowed reserves Required reserves Monetary base2 Week ended Dec. 12p Monetary aggregates M-1 (Currency plus demand deposits) M-2 (M-1 plus time deposits at commercial banks other than large time CD's) Time deposits, all commercial banks Dec. 5p U.S. Government bond rate 5 Nov. 14p 379.1 379.5 377.8 946.3 945.0 661.9 945.0 661.1 940.2 655.7 Week ended Other reserve measures and interest rates Member bank borrowings ($ mil.) Includes seasonal borrowings of: Federal funds rate 3-month Treasury bill rate 90-119 day dealer placed commercial paper* 3-month CD rate (secondary market) 3-month Eurodollar rate Dec. 12p 379.9 Dec. 19 Dec. 12 12.21 13.69 13.82 14.79 10.23 1291 80 13.79 12.11 12.96 13.26 14.09 10.14 11.9 11.7 11.5 10.0 3.4 0.9 3.3 7.4 Average of 4 weeks ended December 12, 1979 from 4 weeks averages 13 weeks 52 weeks 26 weeks previous previous previous Seasonal y adjusted annual rates 3.7 6.8 5.2 4 weeks ended Dec. 19 Not seasonally adjusted 1684 83 13.90 8.1 4 weeks ended Billions of dollars, seasonally adjusted 661.6 13.6 10.7 13.6 1704 100 13.48 11.78 13.06 13.32 14.32 10.15 Nov. 21 2177 156 13.95 12.07 14.02 14.34 15.48 10.47 eases 1 Includes required reserves against deposits at member banks and Edge Act corporations; against bank related commercial paper; and marginal reserves against selected borrowings of member banks, Edge Act corporations and agencies and branches of foreign-banks. Marginal required reserves averaged $ 328 million in the week ending December 19, 19/9 and $ 3 9 8 million in the week ending Jecember 12,. 1979. 2 Includes total reserves (reserve balances of member banks, Edge Act corporations and agencies and branches of foreign banks in the current week and vault cash held two weeks earlier); currency outside the U.S. Treasury, Federal Reserve banks and the vaults of commercial banks; and vault cash of nonmember banks. 3 Reserve aggregates series have been adjusted to remove discontinuities associated with marginal reserve requirements and changes in other reserve requirement regulations. 4 On December 12, 1979 bank-related commercial paper outstanding was $20,183 million. 5 Yield at 20-year constant maturity. Source: U.S. Treasury. NOTE: All percentage changes are at seasonally adjusted annual rates, not compounded. P—Preliminary; special caution should be taken in interpreting week-to-week changes in money supply data, which are often highly volatile and subject to revision in subsequent weeks and months.
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