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OfOOW FEDERAL RESERVE statistical For Immediate Release WEEKLY SUMMARY OF BANKING AND CREDIT MEASURES (Averages of daily figures) H.9 (Rev. 9/77) Week ended J u l y 12 j J u l y Reserve Aggregates^ 37.26 36.35 37.45 Total reserves Nonborrowed reserves Required reserves 38,90 37.70 38.10 4 Weeks ended July 11 | June I T ($ Bil., SA) 37.94 36.68 37.65 37.39 36.50 37.19 Week ended Wfeeks ended July 5 J u n e 28 I J u l y 5 June 7 ($ Bil., SA) Monetary Aggregates % J u l y 1 3 , 1978 Per cent Change (Seasonally Adjusted Annual Rates) Levels Average of 4 weeks ended J u l y 1 2 , 1978 13 weeks previous j26 weeks previous 12.8 2.3 11.6 354.8 349.9 351.3 349.5 11.5 847.4 579.6 6.2 841.4 577.3 3.3 842.2 577.6 4.4 837.5 575.4 2.7 9.3 9.9 Other Reserve Measures & Interest Rates Week ended 4 Weeks ended J u l y 12 I J u l y 5 J u l y 1 2 j June 14 (NSA) 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/ MSA—not seasonally adjusted 904 130 7.72 7.15 7.84 8.11 8.00 8.46 8.71 1194 140 7.72 6.99 7.78 8.07 8.00 8.63 8.65 1252 132 7.69 6.94 7.76 8.04 7.94 8.56 8.62 9.3 5.5 9.1 from 4 week averages | 52 weeks previous 8.2 5.4 8.1 Average of 4 weeks ended J u l y 5 , 1978 from 4 waeks averages' 13 weeks previous | 26 weeks previous |52 weeks previous (Currency plus demand deposits) (M. plus time deposits at cot Brcial banks other than large time CD's) Time deposits, all commercial banks U.S. Government demand deposits, member banks 1/ release 8.0 8.1 8.1 8.5 12.3 11.5 885 109 7.44 6.57 7.30 7.56 7.44 7.99 8.48 SA—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. On J u l y 5, 1978 bank-related commercial paper amounted to 11,639 million. Simple average of offering rates of negotiable certificates of deposit with 3-month maturity in secondary market. ranges* the amninl interest rates most often quoted on new offerings of negotiable certificates of deposit in denominations of $100,000 or more. Yield at 2fr-year constant maturity. Source: TT.S. Treasury 10TB: All percentage changes are at seasonally adjusted annual rates, not compounded. i