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FEDERAL RESERVE statistical release
H.9 (511)

For Release at 4:10 p.m. EST

WEEKLY SUMMARY O F BANKING AND CREDIT MEASURES
Averages of daily figures

February 26, 1982
Levels

Week ended

Reserve aggregates (adjusted) 1
Total reserves2
Nonborrowed reserves
Nonborrowed reserves plus
extended credit3
Required reserves
Monetary base 4

Feb. 24p
Feb. 17p Feb. 24p
Jan. 27p
Millions of dollars, seasonally adjusted
40,359
38,459

41,380
39,472

41,044
39,215

41,187
39,718

38,681
40,360
167,322

39,699
40,803
168,665

39,436
40,736
167,983

39,913
40,770
167,304

Week ended

M1
Sum of currency, travelers checks, demand deposits, and other checkable
deposits.

Other reserve measures and interest rates
Discount window borrowing ($ mil.)
Includes: seasonal borrowings of
extended credit of
Federal funds rate
3-month Treasury bill rate
90 day dealer placed commercial paper 5
3-month CD rate (secondary market)
O m A C i i fAH Allof r A
d-rnunin turoooiiar raie
U.S. Government bond rate6

1

4 weeks ended

4 weeks ended

Feb. 17p
Feb. 10d
Feb. 17p
Jan. 20p
Billions of dollars, seasonally adjusted
447.7
446.5
447.7
447.1
Week ended
4 weeks ended
. 0L
1
17
FPH. ou
1 .Tan, 97
Not seasonally adjusted
1900
146
222
13.86
12.82
14.05
14.57
15.30
14.07

1908
134
227
15.61
14.41
15.39
15.84
16.53
14.65

1830
126
222
14.86
13.58
14.63
15.08
15.73
14.52

Percent change
Average of 4 weeks ended
February 24, 1982p
from 4 weeks averages
13 weeks
26 weeks 52 weeks
previous
previous
previous
Seasonally adjusted annual rates
9.9
-0.6

6.3
4.3

5.0
3.7

-0.4
5.1
4.2
10.3
6.2
5.1
9.4
6.3
5.6
Average of 4 weeks ended
February 17, 1982p
from 4 weeks averages
13 weeks
26 weeks 52 weeks
previous
previous
previous
Seasonally adjusted annual rates
11.7

AJ

7 .n

1469
70
195
13.09
12.17
12.99
13.41
14.18
14.57

Reserve aggregates i n c l u d e required r e s e r v e s of member banks and Edge Act corporations and other depository
i n s t i t u t i o n s . D i s c o n t i n u i t i e s a s s o c i a t e d with the implementation of the Monetary Control Act, the i n c l u s i o n
of Edge Act Corporation r e s e r v e s , and other changes i n Regulation D have been removed. Beginning with the
week ended December 23, 1981, r e s e r v e s aggregates have been reduced by s h i f t s of r e s e r v a b l e l i a b i l i t i e s to
I n t e r n a t i o n a l Banking F a c i l i t i e s (IBFs).
2 Reserve balances with Federal Reserve Banks (which exclude required c l e a r i n g b a l a n c e s ) plus v a u l t cash at
i n s t i t u t i o n s with required r e s e r v e balances p l u s v a u l t cash equal to required r e s e r v e s at other i n s t i t u t i o n s .
3 Extended c r e d i t c o n s i s t s of borrowing at the discount window under the terms and c o n d i t i o n s e s t a b l i s h e d f o r
the extended c r e d i t program to h e l p d e p o s i t o r y i n s t i t u t i o n s deal with s u s t a i n e d l i q u i d i t y p r e s s u r e s .
Because there i s not the same need to repay such borrowing promptly a s there i s w i t h t r a d i t i o n a l short-term
adjustment c r e d i t , t h e money market impact of extended c r e d i t i s s i m i l a r to that of nonborrowed r e s e r v e s .
4 Includes r e s e r v e balances and required c l e a r i n g balances at Federal Reserve Banks i n the current week plus
vault cash held two weeks e a r l i e r used to s a t i s f y r e s e r v e requirements a t a l l d e p o s i t o r y i n s t i t u t i o n s plus
currency o u t s i d e the U.S. Treasury, Federal Reserve Banks, the v a u l t s of d e p o s i t o r y i n s t i t u t i o n s , and surplus
v a u l t cash a t d e p o s i t o r y i n s t i t u t i o n s .
5 On February 17, 1982 b a n k - r e l a t e d commercial paper outstanding was $34,719 m i l l i o n .
6 Yield at 20-year c o n s t a n t m a t u r i t y . Source: U.S. Treasury.
NOTE: A l l percentage changes are at s e a s o n a l l y adjusted annual r a t e s , not compounded.
P—Indicates preliminary d a t a . S p e c i a l caution 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 to r e v i s i o n i n subsequent weeks and months.





Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, St. Louis, MO 63102