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FEDERAL RESERVE statistical release For Release at 4:15 p.m. EST M.»(911) JAIOAJI 1>, 1983 WEEKLY SUMMARY OF RESERVES AND INTEREST RATES Averages of dally figure# Percent change Average of 4 weeks ended 4 weeks ended Jam 12P Jam 5P Jan 12P Dec 15* Millions of dollars, seasonally adjusted Reeerve aggregates (adjusted)1 Total reserves2 Nonborrowed reserves Nonborrowed reserves plus extended credit1 Required reserves Monetary base4 40,328 39,901 40,034 39,871 175,541 41,738 40,536 40,679 40,594 177,393 #1,105 40.388 40,552 40,437 176,095 40,684 40.127 40,313 40,262 174,277 January 12, 1983P from 4 weeks averages 52 weeks \ weeks 13 % prsvlous previous previous Seasonally adjusted annual rates 7.7 15.0 14.4 14.8 13.6 15.8 8.6 9.0 7.9 6.2 12.2 16.2 12.1 8.5 7.1 4 weeks ended Jan 12 Jan 5 Jan 12 Dec 15 Not seasonally adjusted Other reserve messures and Interest rates Discount window borrowing ($ mil.) Includes: seasonal borrowings of extended credit of Federal funds rate 3-month Treasury bill rate go day dealer placed commercial paper* 3-month CD rate (secondary market) 3-month Eurodollar rate U.S. Government bond rate6 427 31 133 8.42 7.76 8.11 8.30 8.75 10.67 1202 37 143 10.21 7.97 8.49 8.60 9.08 10.62 717 38 164 9.03 7.91 8,39 8.52 9.19 10.66 557 33 187 8.83 8.01 8.54 8.76 9.63 10.57 1 Reserve aggregates iaclude required reserves of member banks and Edge Act Corporations and other depository institutions. Discontinuities associated with the implementation of the Monetary Control Act, the inclusion of Edge Act Corporation reserves, and other changes in Regulation D have been removedBeginning with the week ended December 31, 1981, reserves aggregates have been reduced by shifts of reservable liabilities to international banking facilities (IfiPs). 2 Reserve balances with Federal Reserve Banks (which exclude required clearing balances) plus vault cash at institutions with required reserve balances plus vault cash equal to required reserves at other 3 Extended credit consists of borrowing at the discount window under the terms and conditions established for the extended credit program to help depository institutions deal with sustained liquidity pressures. Because there is not the saae need to repay such borrowing promptly as there is with traditional shortterm adjustment credit, the money market impact of extended credit is similar to that of nonborrowed 4 Includes reserve balances and required clearing balances at Federal leserve Banks in the current week plus vault cash held two weeks earlier used to satisfy reserve requirements at all depository institutions plus currency outside the U.S. Treasury, Federal Reserve Banks, the vaults of depository institutions, and surplus vault cash at depository institutions. 5 On jam. 5, 1983 bank-related commercial paper outstanding was $32,914 million. 6 Yield at 20-year constant maturity. Source: O.S. Treasury. Note: All percentage changes are at seasonally adjusted annual rates, not compounded. P—indicates preliminary data.