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r FEDERAL RESERVE statistical release H.9 (511) For Immediate Release WEEKLY SUMMARY OF BANKING AND CREDIT MEASURES Averages of daily figures December 5, 1980 Levels Week ended 4 weeks ended Dec. 3 Nov. 26 Dec. 3 Nov. 5 Millions of dollars, seasonally adjusted Reserve aggregates 1 Total reserves Nonborrowed reserves Required reserves Monetary base 2 Reserve aggregates (adjusted) 3 . REVISED * Total reserves Nonborrowed reserves Required reserves Monetary base 2 40,654 38,512 39,689 160,007 40,427 38,212 40,091 159,586r 40,904 38,803 40,373 160,300 41,952 40,545 41,720 161,392 40,632 38,490 39,667 n.a. 40,401 38,186 40,065 n.a. 40,162 38,061 39,631 n.a. 39,101 37,694 38,869 n.a. Week ended 4 weeks ended Nov. 19p Nov. 26p Nov. 26p Oct. 29 Billions of dollars, seasonally adjusted Monetary aggregates M-1A (Currency plus demand deposits) M-1B (M-1 A plus other checkable deposits) 389.6 414.7 388.5 413.5 389.3 414.3 386.9 411.0 Percent change Average of 4 weeks ended December 3, 1980 from 4 weeks averages 52 weeks 13 w e e k s 2 6 weeks previous previous previous Seasonally adjusted annual rates 8.6 14.1 21.3 6.6 a. 5 7.7 7.8 18.4 12.3 n.a. n.a. n.a. Average of 4 weeks ended November 26, 1980 from 4 weeks averages 52 weeks 13 weeks 26 weeks previous previous previous Seasonal y adjusted annual rates 9.8 12.4 11.6 14.5 4 weeks ended Dec. 3 Not seasonally adjusted 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 rateS 1 2142 110 17.72 14.67 16.81 17.34 18.16 12.48 2215 115 17.43 14.21 16.04 16.54 16.98 12.36 2101 103 16.26 13.95 15.63 16.11 16.85 12.46 1878 72 13.09 11.91 12.81 13.28 14.03 11.88 Includes required reserves against deposits at member banks and Edge Act corporations and beginning November 13, 1980, at other depository institutions. Effective November 13, 1980 required reserves of member banks and Edge Act corporations were reduced about $4.3 billion and required reserves of other depository institutions were increased about $1.4 billion due to the implementation of the Monetary Control Act of 1980. 2 Includes total reserves (reserve balances of depository institutions in the current week and vault cash used to meet reserve requirements held two weeks earlier); currency outside the U.S. Treasury, Federal Reserves 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 November 26, 1980 bank-related commercial paper outstanding was $25,375 million. 5 Yield at 20-year constant maturity. Source: U.S. Treasury. NOTE: All percentage changes are at seasonal adjusted annual rates, not compounded. p—Indicates preliminary data. 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. r--revised. * Reserve aggregates adjusted data, current and historical, have been revised to reflect reserve changes associated with the implementation of the Monetary Control Act in early November. Historical data will be published with the H.3 release early next week. n.a.-Not available. 5.8 7.8
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