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&anahaIL .y^Qf GQw; F E D E R A L R E S E R V E s t a t i s t i c a l For Immediate Release WEEKLY SUMMARY OF BANKING AND CREDIT MEASURES (Averages of daily figures) H.9 (Rev. 9/77) r e l e a s e February 10, 1978 Levels Per cent Change (Seasonally Adjusted Annual Rates) Week ended 4 Weeks ended *Feb. 8 | Feb. 1 *Feb. 8 jJan. 11 ($ Bil., SA) Average of 4 weeks ended February 8, 1978 from 4 week averages 13 weeks previous 126 weeks previous I 5% weeks previous Reserve Aggregates^ 37.40 36.90 37.00 Total reserves Nonborrowed reserves Required reserves 36.95 36.48 36.69 36.39 35.85 36.14 Week ended 4 Weeks ended *Feb. 1 | Jan. 25 ~*Feb. 1 | Jan. 4 C$ Bil., SA) Monetary Aggregates M- (Currency plus demand deposits) MI (M plus time deposits at commercial banks other than large time CD's) Time deposits, all commercial banks U.S. Government demand deposits, member banks 335.7 337.4 336.7 811.6 812.8 811.8 553.0 2.0 551.6 551.3 3.0 2.8 Week ended Feb. 8 I Feb. 1 Member bank borrowings ($ mil.) Includes seasonal borrowings of: Federal funds rate 3-month Treasury bill rate 90-119 day dealer placed commercial paper 2/ 3-month CD rate (secondary market) 3/ 90-day CD rate (primary offering) kj 3-month Euro-dollar rate U.S. Government bond rate 5/ 13.1 23.2 11.4 9.6 9.6 9.0 7.3 6.1 6.8 Average of 4 Weeks e n d e d p e b r u a r v 1978 from 4 waeks averages 13 weeks previous | 26 weeks previous |52 weeks previous 336.3 4.0 5.6 7.3 807.7 547.0 3.6 6.2 13.9 6.9 12.0 8.7 11.2 4 Weeks ended I Feb. 8 I" Jan. 11 TNSAJ Other Reserve Measures & Interest Rates N S A — n o t seasonally adjusted 37.24 36.74 36.91 495 48 6.75 6.44 6.76 6.88 6.75 7.20 8.19 469 44 6.80 6.42 6.76 6.90 6.82 7.36 8.17 493 38 6.76 6.46 6.78 6.95 6.84 7.32 8.18 540 41 6.62 6.19 6.67 6.79 6.74 7.24 7.99 SA—seasonally adjusted Includes required reserves against Eurodollar borrowings and bank-related commercial paper. Reserve aggregates reflect changes in Regulation D. Per cent annual rates of growth for required reserves and other reserve aggregates have been adjusted to remove the effect of these structural changes. 2J On February 1, 1978 bank-related commercial paper amounted to$9,171 million. 2/ Average of range of offering rates of negotiable certificates of deposit with 3-month maturity in secondary market. 4/ Posted ranges - the annual interest rates most often quoted on new offerings of negotiable certificates of deposit in denominations of $100,000 or more. $ J Yield at 20-year constant maturity. Source: U.S. Treasury NOTE: All percentage changes are at seasonally adjusted annual rates, not compounded. * Data from the Boston Federal Reserve District have been estimated. Reserve aggregate data for the week of February 8 and monetary aggregate data for the week of February 1, may be subject to larger than usual revisions. 1/
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