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FEDERAL R E S E R V E 4 Weeks ended Week ended Jan. 3 (Dec. 27 Jan. 3 (Dec. 6 ($ Bil., SA) Reserve Aggregates^ Total reserves Nonborrowed reserves Required reserves 42.58 41.40 41.36 Monetary Aggregates 1 4 Weeks ended Week ended Dec. 27 iDec. 20 IDec. 27 INov. 29 ($ Bil., SA) M, (Currency plus demand deposits) M~ (ML plus time deposits at commercial banks other than large time CD's) 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 2/ 3-month CD rate (secondary market) 3/ 90-day CD rate (primary offering) 4/ 3-month Euro-dollar rate U.S. Government bond rate 5/ I For Immediate Release 40.77 39.35 40,72 41.71 40.78 41.34 J a n u a r y 4 , 1979 Per cent Change (Seasonally Adjusted Annual Rates) Levels jy release WEEKLY SUMMARY OF BANKING AND CREDIT MEASURES (Averages of daily figures) He 9 (Rev. 9/77) ISA—not seasonally adjusted statistical 40.54 39.86 40.32 Average of 4 weeks ended January 3 , 1979 from 4 week averages 13 weeks previous |26 weeks previous | 52 weeks previous 4.7 6.1 2,6 3.2 4.7 2.9 6.7 5.8 6.4 Average of 4 weeks endedP&cgmbex 2 7 , 1978 from 4 waeks averages 13 weeks previous | 26 weeks previous | 52 weeks previous" 360.5 361.1 360.8 360.4 -0.4 4.4 6.7 870.9 607.2 871.4 608.0 871.5 607.6 870.3 605.4 4.2 12.4 7.3 11.5 11.6 7.7 4 Weeks ended Week ended Jan. 3 [Dec. 27 J a n . 3 IDec. 6 CNSA) 1182 112 10.59 9.30 10.57 10.88 N.A. 11.81 9.00 1413 131 10.25 9.30 10.52 10.96 10.56 11.95 8.99 938 129 10.10 9.16 10.43 10.76 N.A. 11.67 8.94 681 176 9.77 8.66 10.21 10.68 10.28 11.55 8.75 ::::: ::: ::: . ::::::::::::::::: S A — seasonally adjusted Includes required reserves against Eurodollar 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. (fct December 27, 1978 bank-related commercial paper amounted to $15,835 million. Simple average of offering rates of negotiable certificates of deposit with 3-month maturity in secondary market. Posted ranges-the annual interest rates most often quoted on new offerings of negotiable certificates of deposit in denominations of $100,000 or Yield at 20-^ear constant maturity. Source: U.S. Treasury All percentage changes are at seasonally adjusted annual rates, not compounded.