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FEDERAL RESERVE statistical release For Release at 4:15 p.m. EST January 7, 1983 M.9(511) WEEKLY SUMMARY OF RESERVES AND INTEREST RATES Averages of dally figures Levels 4 weeks ended Week ended Jan Dec 29P 5P Jan Dec 5P 8P Millions of dollars, seasonally adjusted Reserve aggregates (adjusted)1 Total reserves2 Nonborrowed reserves Nonborrowed reserves plus extended credit3 Required reserves Monetary base4 41,953 40,751 40,894 40,595 177,578 41,395 40,704 40,895 40,556 176,115 41,204 40,418 40,596 40,478 175,916 15.3 16.6 17. 1 11.5 8.8 13. 1 15.5 15.9 11.3 8.2 7.9 8.2 8.2 7.1 7.7 4 weeks ended Week ended Jan 40,707 40,140 40,326 40,324 174,191 Percent change Average of 4 weeks ended" January 5, 1983P from 4 weeks averages 52 weeks 26 weeks 13 weeks previous previous previous Seasonally adjusted annual rates Dec 29 Jan Dec 8 Not seasonally adjusted Other reserve measures and Interest rates Discount window borrowing ($ mil.) Includes: seasonal borrowings of extended credit of Federal funds rate 3-month Treasury bill rate 90 day dealer placed commercial paper5 3-month CD rate (secondary market) 3-month Eurodollar rate U.S. Government bond rate® 1202 37 143 10.21 7. 97 8.49 8.60 9.08 10.62 691 44 191 8.79 8.01 8.47 8.53 9.36 10.68 786 36 178 9.14 7.93 8.49 8.62 9.39 10.63 567 39 186 9.01 8. 13 8.64 8.88 9.72 10.59 1 Reserve aggregates include required reserves of member banks and Edge let Corporations and other depository institutions. Discontinuities associated with the implementation of the Monetary Control Act, the inclusion of Edge Act Corporation reserves, and other changes in Regulation D have been removed. Beginning with the week ended December 31, 1981, reserves aggregates have been reduced by shifts of reservable liabilities to international banking facilities (IBFs). 2 Reserve balances with Federal Reserve Banks (which exclude required clearing balances) plus vault cash at institutions with required reserve balances plus vault cash equal to required reserves at other institutions. ^ ^ .. . , . 3 Extended credit consists of borrowing at the discount window under the terms and conditions established for the extended credit program to help depository institutions deal with sustained liquidity pressures. Because there is not the same need to repay such borrowing promptly as there is with traditional shortterm adjustment credit, the money market impact of extended credit is similar to that of nonborrowed reserves. 4 Includes reserve balances and required clearing balances at Federal Reserve Banks in the current week plus vault cash held two weeks earlier used to satisfy reserve requirements at all depository institutions plus currency outside the U.S. Treasury, Federal Reserve Banks, the vaults of depository institutions, and surplus vault cash at depository institutions. 5 on Dec. 29, 1982 bank-related commercial paper outstanding was $33,455 million. 6 Yield at 20-year constant maturity. Source: U.S. Treasury. Note: All percentage changes are at seasonally adjusted annual rates, not compounded. P — i n d i c a t e s preliminary data.
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