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f e d e r a l 4/72) j_eserve $ k tatistica I r e l e a s e ,WEEKLY SUMMARY OF R A W I N G AND CREDIT MEASURES \ (Averages of daily figures) For Immediate Release February 28, 1974 P e r c e n t Change (Seasonally Adjusted Annual 4 Wks . ended Feb.20 Feb. 27 1 Jan. 30 ($ Bil., SA) Rest-rye Aggregates M y Total reserves Nonborrowed, reserves Required reserves Reserves Available to Support Pvt. Nonbank Deposits Monetary Aggregates M 1 (Currency plus demand deposits) Mg (M^ plus time deposits at commercial banks other than large time CD's) Adjusted credit proxy 3/ Time deposits, all commercial banks U.S. Government demand deposit*, member banks Other Reserve Measures & Interest Rates Member bank borrowings ($ mil.) Includes seasonal borrowings of: Federal funds rate 3-month Treasury bill if ate 90-119 day dealer placed commercial paper rate 4/ 3-month CD rate (secondary market) 5/ 3-month Euro-dollar rate U.S. Government bond rate 6/ N S A — N o t Seasonally Adjusted, V I 34,90 33.65 34.66 32.98 35.28 33.91 35.16 32.81 Week ended Feb. 20 iFeb. 35.14 33.94 34.94 32.80 35.91 34.87 35.76 32.80 4 Wks. ended I Feb. 20 I Jan. 23 ($13Bil., SA) 274.7 271.9 582.6 453.8 374.4 1.5 579.0 454.5 374.1 271.5 269.7 Average of 4 Weeks Ended Beb. 27. 1974 from 4 Week Aver a Res 13 weeks previous | 26 weeks previous I 52 weeks previous 7.9 7.1 13.8 6.7 4.5 10.6 8.2 5.9 8.1 t:! 8.7 Average of 4 Weeks Ended Feb. 20, 1974 from 4 Week Averages 13 weeks previous | 26 weeks previous | 52 weeks previous 4.9 3.9 5.4 578.2 573.0 454.5 453.4 373.5 368.2 2.6 3.5 6.4 4 Wks. ended Feb. 27 1 Feb. 20 Feb. 271 Jan. 30 (NSA) 16 8,.81 7,.20 7,.88 8,.07 8,.48 7,.50 1377 1196 20 17 9.,07 8,.99 7..04 7,.12 8,.01 7..88 7,.96 8,.10 8,.36 8,.51 7..44 ' 7,.46 17 9..65 7,.80 8,.87 9,.06 9,.38 7..48 m m m S A — S e a s o n a l l y Adjusted Includes required reserves against Euro-dollar borrowings and bank-related commercial paper. Reserves Available to Support Private Nonbank Deposits are required reserves for private demand deposits, total time and savings deposits, nondeposit sources subject to reserve requirements and excess reserves. 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. Adjusted to include certain reserve deficiencies on which penalties can be waived for a transition period in connection with bank adaptation to Regulation J as amended effective November 9, 1972. The adjustment amounted to $450 million from November 9 to December 27. 1972- $279 million from December 28, 1972 to March 28, 1973; $172 million from March 29, 1973 to Jnue 27, 1973; $112 million from June 28, 1973 to September 26, 1973$84 million from September 27, 1973 to December 26, 1973; and $67 million thereafter. Includes member bank deposits, bank-related commercial paper, Euro-dollar borrowings of U.S. banks, and certain nondeposit items. On Feb. 20, 1974 bank-related commercial paper amounted to $5,499 million. Average of range of offering rates of negotiable certificates o f deposit with 3 month maturity in secondary market. Daily average yield on 20-year bonds. Source: U.S. Treasury. I: A l l percentage changes are at seasonally adjusted annual rates, not compounded.
@FedFRASER