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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.