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o* coy/ FEDERAL R E S E R V E statistical release For Immediate Release WEEKLY SUMMARY OF BANKING AND CREDIT MEASURES (Averages of daily figures) H.9 (Rev. 9/77) February 22, 1978 Levels Per cent Change (Seasonally Adjusted Annual Rates) 4 Weeks ended Week ended Feb. 22 | Feb. 15 Feb. 22 I Jan. 25 ($ Bil., SA) Average of 4 weeks ended February 22, 1978from 4 week averages 13 weeks previous |26 weeks previous [ 52 weeks previous Reserve Aggregates^ 36.88 36.43 36.47 Total reserves Nonborrowed reserves Required reserves % (Currency plus demand deposits) (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 Other Reserve Measures & 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 2/ 3-month CD rate (secondary market) 3/ 90-day CD rate (primary offering) 4/ 3-month Euro-dollar rate U.S. Government bond rate 5/ 1/ 37.11 36.68 36.77 36.90 36.41 36.61 Week ended 4 Weeks ended Feb. 15 | Feb. 8 |Feb. 15 |jan. 18 C$ Bil., SA) Monetary Aggregates NSA—not seasonally adjusted 37.30 37.01 36.13 11.8 16.9 10.3 7.8 6.8 7.4 Average of 4 weeks ended February 15, 1978from 4 waeks averages 13 weeks previous | 26 weeks previous | 52 weeks previous 336.1 337.3 336.7 337.4 4.0 813.6 556.6 814.7 555.6 2.5 813.2 554.2 2.4 810.7 549.4 3.5 13.4 2.2 7.9 11.0 7.1 6.1 5.4 6.8 12.5 7.3 8.6 11.2 4 Weeks ended Week ended Jan. 25 Feb. 24 | "Feb!T T Feb. 22 (NSA) 442 53 6.78 6.48 6.78 6.91 6.75 7.33 8.26p 282 48 6.76 6.46 6.76 6.90 6.75 7.23 8.22 422 48 6.77 6.45 6.77 6.90 6.77 7.28 8.21p 489 29 6.69 6.40 6.74 6.92 6.83 7.31 8.11 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. 2/ On February 15, 1978 bank-related commercial paper amounted to 9,231 million. 3/ Average of range of offering rates of negotiable certificates of deposit with 3-month maturity in secondary market. 4J Posted ranges • the annual interest rates most often quoted on new offerings of negotiable certificates of deposit in denominations of $100,000 or more. 5J Yield at 20-<year constant maturity. Source; U.S. Treasury NOTE: All percentage changes are at seasonally adjusted annual rates, not compounded.
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