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FEDERAL RESERVE statistical release • f*4L For Immediate Release H.9 (511) WEEKLY SUMMARY OF BANKING AND CREDIT MEASURES Averages of daily figures July 11, 1980 Levels Week ended 4 weeks ended July 9 June 11 July 2 July 9 Millions of dollars, seasonally adjusted Reserve aggregates1 Total reserves Nonborrowed reserves Required reserves Monetary base 2 43,785 43,570 43,190 158,601 43,873 43,525 43,602 159,352 43,722 43,403 43,417 158,819 44,624 43,919 44,420 158,998 Reserve aggregates (adjusted) 3 Total reserves Nonborrowed reserves Required reserves Monetary base 2 43,511 43,296 42,916 158,328 43,573 43,225 43,302 159,053 43,437 43,118 43,131 158,534 43,385 42,679 43,181 157.759 Week ended July 2p June 25p 4 weeks ended July 2p June 4 Billions of dollars, seasonally adjusted Monetary aggregates M-1A (Currency plus demand deposits) M-1B (M-1 A plus other checkable deposits) Other reserve measures and interest rates Member bank borrowings ($ mil.) Includes seasonal borrowings of: Federal funds rate 3-month Treasury bill rate 90 day dealer placed commercial paper4 3-month CD rate (secondary market) 3-month Eurodollar rate U.S. Government bond rate5 368.1 371.1 371.6 371.1 386.6 390.9 391.4 391.0 4 weeks ended Week ended July 9 June 11 July July 9 Not seasonally adjusted 215 5 9.26 8.02 8.37 8.65 9.23 10.18 348 5 9.41 7.82 8.30 8.59 9.61 10.10 319 7 9.19 7.36 8.18 8.44 9.27 9.90 Percent change Average of 4 weeks ended July 9 , 1980 from 4 weeks averages 52 weeks 26 weeks 13 weeks previous previous previous Seasonally adjusted annual rates 1.2 0.7 6.3 9.2 5.2 6.1 0.1 1.3 8.1 5.8 5.9 Average of 4 weeks ended July 2, 1980 from 4 weeks averages 52 weeks 26 weeks 13 weeks previous previous previous Seasonal y adjusted annual rates 23.5 -2.0 -0.3 0.6 2.1 3.2 4.5 706 26 10.15 7.71 8.70 8.94 10.10 10.33 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 $239 million in the week ending July 9, 1980 and $265 million in the week ending July 2 , 1980. 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 j u i y 2 , 1980 bank-related commercial paper outstanding was $21,842 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-Indicates preliminary data. Special caution should be taken in interpreting week-to-week changes in money supply data, which are often highly volatile and subject to revision in subsequent weeks and months.
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