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FEDERAL RESERVE statistical release For Immediate Release February 21, 1980 H.9 (511) WEEKLY SUMMARY OF BANKING AND CREDET MEASURES Averages of daily figures Levels Week ended Feb. 20 Feb. 13 4 weeks ended Feb. 20 Jan. 23 Billions of dollars, seasonally adjusted Reserve aggregates 1 Total reserves Nonborrowed reserves Required reserves Monetary base 2 44,426 42,232 43,596 156,751 42,638 41,402 42,809 154,573 43,429 41,927 43,056 155,428 43,578 42,432 43,182 154,712 Reserve aggregates (adjusted) 3 Total reserves Nonborrowed reserves Required reserves Monetary base 2 44,113 41,919 43,283 156,438 42,326 41,090 42,497 154,261 43,120 41,618 42,747 155,118 43,308 42,162 42,913 154,442 Week ended 4 weeks ended Feb. 13p Feb. 6p Feb. 13p Jan. 16p Billions of dollars, seasonally adjusted Monetary aggregates M-lA(Currency plus demand deposits) 376.2 M-1B(M-1 plus o t h e r c h e c k a b l e d e p o s i t s 392.8 377.0 393.1 374.4 390.6 372.8 389.4 Percent change Average of 4 weeks ended February 20, 1980 from 4 weeks averages 52 weeks 26 weeks 13 weeks previous previous previous Seasonal y adjusted annual rates 4.9 11.9 4.2 7.6 9.1 7.0 8.3 9.0 4.1 3.1 3.9 7.9 Average of 4 weeks ended February 1 3 , 1980 from 4 weeks averages 52 weeks 26 weeks 13 weeks previous previous previous Seasonal ly adjusted annual rates 5.9 6.2 5.5 5.9 7.1 8.6 4 weeks ended Week ended Feb. 20 | Jan. 23 Feb. 20 1 Feb. 13 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 rate 5 2194 100 14.87 12.93 13.64 14.23 15.26 12.39 1236 91 13.64 12.10 13.07 13.44 14.46 11.86 1503 88 13.71 12.33 13.21 13.62 14.61 11.71 1147 69 13.92 11.95 13.07 13.40 14.38 10.43 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 $ 254 million in the week ending February 2 0 , 1980 and $ 262 million in the week ending February 1 3 , 1980 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 February 13,1980bank-related commercial paper outstanding was $ 2 2 , 0 0 1 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 - 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 i n 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 t o r e v i s i o n i n subsequent weeks and months.
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