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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

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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.