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: F E D E R A L 4/72) R E S E R V s t a t i s t i c a l E i S 7' r e Ie a s e WEEKLY SUMMARY OF BANKING AND CREDIT MEASURES (Averages of daily figures) For Immediate Release January 2, 1976 Percent Change (Seasonally Adjusted Annual Week ended 4 Wks. ended Dec. 31 I Dec. 24 Dec. 31 I Dec. 3 ($ Bil., SA) 35.46 34.88 35.05 34.58 Total reserves 35.20 Nonborrowed reserves 34.66 34,91 34.52 35.00 Required reserves 34.62 34.76 34.39 Reserves Available to Support Pvt. Nonbank Deposits 32.64 32.51 32.65 32.45 Reserve Aggregates 1/ 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 2J 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 rate. 3-month CD rate (secondary market) zJ 3-month Euro-dollar rate U.S. Government bond rate U Average of 4 Weeks Ended Dec. 31, 1.975 from 4 Week Averages 13 Weeks previous | 26 weeks previous I 52 weeks previous 8.1 11.6 7.0 2.6 2.6 3.6 2.1 0.0 Week ended 4 Wks. ended Average of 4 Weeks Ended Dec. 24 . 1975 Dec. 24 1 Dec. 17 | Dec. 24 | Nov. ~26 13 weeks previous | 26 weeks previous ($ Bil., SA) 295.2 296.9 295.3 296.5 666.8 666.4 514.3 515.7 454.8 454.2 2.9 4.6 Week ended Dec. 31 1 Dec. 24 257 220 12 12 5.18 5.18/ 5.72 5.68 5.90 p 8.03 5.18 5.33 5.90 5.78 6.35 8.12 -0.4 1.2 -0.4 -1.1 from 4 Week Averages | 52 weeks previous 665.0 667.5 515.3 512,8 454.0 449.3 3.5 3.5 4 Wks. ended • Dec.* 311 Dec. 3~ 138 13 5.20 5.41 5.88 5.97 6.35 p 8.20 60 J5 5.25 5.48 5.78 6.25 6.80 8.30 N5A--Not Seasonally Adjusted. SA--Seasonally \d justed. 1/ Includes required reserves against Euro-dollar borrowings ana 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 aggregate 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 December 24, 1975 bank-related commercial paper amounted to $8712 million. Average of range of offering rates of negotiable certificates of deposit with three month maturity in secondary market. Yield at 20-year constant maturity. Source: U.S. Treasury. NOTE: All percentage changes are at seasonally adjusted annual rates, not compounded.