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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.