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( / $ $ L A J U U > j d L A~j/r

FEDERAL RESERVE statistical release
" • f*AL RES^.

H.9 (511)

For Immediate Release

WEEKLY SUMMARY OF BANKING AND CREDIT MEASURES
Averages of daily figures

January 4, 1980
Levels

Week ended

4 weeks ended

Dec. 26
Jan. 2
Dec. 5
Jan. 2
Billions of dollars, seasonally adjusted
Reserve aggregates1
Total reserves
Nonborrowed reserves
Required reserves
Monetary base 2

43,543
42,112
42,865
155,411

43,480
42,255
42,984
153,882

43,533
42,125
43,064
154,101

43,282
41,391
43,098
153,024

Reserve aggregates (adjusted) 3
Total reserves
Nonborrowed reserves
Required reserves
Monetary base 2

43,284
41,853
42,606
155,152

43,259
42,035
42,763
153,662

43,232
41,824
42,762
153,800

42,762
40,871
42,577
152,504

Week ended

4 weeks ended

Dec. 26p Dec. 19p
Dec. 26pI Nov. 28p
Billions of dollars, seasonally adjusted
Monetary aggregates
M-1 (Currency plus demand deposits)
M-2 (M-1 plus time deposits at commercial
banks other than large time CD's)
Time deposits, all commercial banks

Other reserve measures and 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^
3-month CD rate (secondary market)
3-month Eurodollar rate
U.S. Government bond rate 5

381.7

379,7

380.2

Percent change
Average of 4 weeks ended
January 2 , 1980
from 4 weeks averages
13 weeks
26 weeks
52 weeks
previous
previous
previous
Seasonal y adjusted annual rates

3,»9
13.5
11,.9
12,,7
2,,9
13.1
10.7
10,.9
3,.4
7,,7
8.8
10,.6
Average of 4 weeks ended
December 26, 1979
from 4 weeks averages
52 weeks
26 weeks
13 weeks
previous
previous
previous
Seasonal y adjusted annual rates

379.2

2.8

5.9

5,3

949.5
947.0
947.0
943.6
661.2
661.4
661.5
659.3
Week ended
4 weeks ended
Jan. 2
Dec. 26
Jan. 2
| Dec. 5
Not seasonally adjusted

6.8
12.6

9.5
13.5

8c3

1431
64
14.04
12.03
13.20
13.42
14.58
10.21

1224
80
13.49
12.01
13.35
13.36
14 «65r
10.23

1408
77
13.81
12.09
13.30
13.47
14.53
10.20

8,2

1891
130
13.16
11.70
13.32
13.64
14.75
10.29

1 Includes required reserves against deposits at member banks and Edge Act corporations; against bank related commercial paper; and
marginal reserves against selected borrowings of member banks, Edge Act corporations and agencies and branches of foreign banks.
Marginal required reserves averaged $ 260
million in the week ending January 2, 1980
and $ 221
million in the week
ending December 26, 1979.
2 Includes total reserves (reserve balances of member banks, Edge Act corporations and agencies and branches of foreign banks in the current
week and vault cash held two weeks earlier); currency outside the U.S. Treasury, Federal Reserve banks and the vaults of commercial banks;
and vault cash of nonmember banks.
3 Reserve aggregates series have been adjusted to remove discontinuities associated with marginal reserve requirements and changes in other
reserve requirement regulations.
4 On December 26, 1979bank-related commercial paper outstanding was $ 20,410
million.
5 Yield at 20-year constant maturity. Source: U.S. Treasury.
NOTE: All percentage changes are at seasonally adjusted annual rates, not compounded.
p—Preliminary; s p e c i a l c a u t i o n should be taken i n i n t e r p r e t i n g week-to-week changes i n money supply data, which
are o f t e n h i g h l y v o l a t i l e and s u b j e c t t o r e v i s i o n i n subsequent weeks and months.
r—Revised.