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RESERVE

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H.9
(Rev. 1/76)

WEEKLY SUMMARY OF BANKING AND CREDIT tCASURES
(Averages of daily figures)
Levels

Total reserves
Nonborrowed reserves
Required reserves

34.74
34.72
34.28

(Currency plus demand deposits)
plus time deposits at commercial banks
other than large time CD's)
Adjusted credit proxy 2/
Time deposits, all commercial banks
U.S. Government demand deposits, member banks

314.3

%2

1/

312.3

744.3
740.2
542.4
543.3
495.3
495.2
1.9
2.1
Week ended
Tan. 1? 1 Jan. 5

Other Reserve Measures & Interest Rates

USA--Not Seasonally Adjusted

34.98
34.94
34.59

34.94
34.89
34.67

Week ended
4 Wks. ended
Jan. 5
I Dec. 29) Jan. 5
I Dec. 8
($ Bil., SA)

Monetary Aggregates

Member bank borrowings ($ mil.)
Includes seasonal borrowings of:
Federal funds rate
3-month Treasury bill rate
90-119 day dealer placed commercial paper rate
3-month CD rate (secondary market) 4/
90-day CD rate (primary offering) 5/
3-month Euro-dollar rate
U.S. Government bond rate 6/

34 .99
34 .96
34 .40

3/

20
10
4.55
4,58
4.68
4.75
4.70
5.08
7.43

32
8
4.47
4.41
4.63
4.68
4.50
5,03
7.20

January 12, 1977

ferceqt Change (Seasonally Adjusted Annual Rates).

Week ended
,4 Wks. ended
Jan. 12 I Jan. 5 Jan. 12 | Dec. 15
($ Bil., SA)

Reserve Aggregates^

For Immediate Release

312.5

310.0

741.0
734.0
540.4
536.2
492.9
486.7
3.0
4.5
4 Wks. ended
Jan. 12 1tier.15
(NSA)
43
10
4.58
4.40
4.66
4.68
4.55
.5,05
7.30

57
17
4.76
4.48
4.75
4.78
4.62
5.07
7.42

Average of 4 Weeks Ended Tan. 1?r 1977 from 4 Week Averages
13 weeks previous | 26 weeks previous
52 weeks previous

10.9
11.2

4.5
5.2
3.5

8.6

Average of 4 Weeks~Ended Jan. 5. 1977
13 weeks previous | 26 weeks previous

2.6
2.9
2.3
from 4 Week Averages
I 52 weeks previous

6.5

6.1

6.0

12.2

11.7

11.4
5.1

11.7
15.9

6.6
10.6

8.8

1 1 1 #

SA--Seasonally Adjusted.

required reserves against Euro-dollar 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.
Includes member bank deposits, loans sold to bank-related institutions, Euro-dollar borrowings of U.S. banks, and certain nondeposit items.
On January 5, 1977
bank-related commercial paper amounted to$7629 million.
Average of range of offering rates of negotiable certificates of deposit with three month maturity in secondary market.
Posted rates - the annual interest rates most often quoted on new offerings of negotiable certificates of deposit in denominations of $100,000 or more.
Yield at 20-year constant maturity. Source: U.S. Treasury.