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FEDERAL RESERVE statistical release
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H.9(511)

For Release at 4:10 p.m. EOT
July

WEEKLY SUMMARY OF BANKING AND CREDIT MEASURES

16,

1982

Averages of daily figures

Levels
Week ended

JULY
Reserve aggregates (adjusted)1
Total reserves2
Nonborrowed reserves
Nonborrowed reserves plus extended credit 3
Required reserves
Monetary base4

14P
JOLT
7P
JULY 14P
JUNE 16P
Millions of dollars, seasonally adjusted

40,770
40,212
40,282
40,605
171,607

41,518
40,446
40,533
40,578
172,574

M1
Sum of currency, travelers checks, demand
deposits, and other checkable deposits.

7P
JONE 30P
JOLY
7P
JUNB
Billions of dollars, seasonally adjusted

451.3

JULY 14

1

41,304
40,222
40,351
41,017
171,832

4 weeks ended

445.4

Week ended

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 rate6

41,401
40,336
40,422
41,019
172,225

558
231
70
13.18
11.88
13.69
14.13
15.00
13.81

JULY 1 4 , 1982P
from 4 weeks averages
13 weeks
26 weeks
52 weeks
previous
previous
previous
Seasonally adjusted annual rates
4.2
9.1
7.0
3.8
8.0

J.3
3.1
2.6
3.6
6.9

4.3
6.4
6.6
4.2
6.2

Average of 4 weeks ended

Week ended

JULY

Percent change
Average of 4 weeks ended
4 weeks ended

449.6

9P

452.8

JULY
7 , 1982P
from 4 weeks averages
26 weeks
52 weeks
previous
previous
Seasonally adjusted annual rates

13 weeks
previous

0.5

3.3

4.8

4 weeks ended

JULY
7
JULY 14
Not seasonally adjusted

JUHE 16

1065
251
87
14.16
12.55
14.34
14.88
15.79
14.23

1082
239
128
13.74
11.91
13.31
13.73
14.67
13.80

1072
251
87
14.47
12.59
14.56
15.13
15.78
14.24

RESERVE AGGREGATES INCLUDE REQUIRED RESERVES OF MEMBER BANKS AND EDGE ACX CORPORATIONS AND OTHER DEPOSITORY I N S T I T U T I O N S .
D I S C O N T I N U I T I E S ASSOCIATED WITH THE IMPLEMENTATION OP THE MONETARY CONTROL ACT,
THE INCLUSION OF EDGE ACT CORPORATION RESERVES, AND OTHER CHANGES I N REGULATION D HAVE 3EEN REMOVED.
BEGINNING WITH THE WEEK ENDED DECEMBER 3 1 , 1981 RESERVES AGGREGATES HAVE BEEN REDUCED BY SHIFTS OF
RESERVABLE L I A B I L I T I E S TO INTERNATIONAL BANKING F A C I L I T I E S ( I B F S ) .
2
RESERVE BALANCES WITH FEDERAL RESERVE BANKS (WHICH EXCLUDE REQUIRED CLEARING BALANCES) PLUS VAULT CASH
AT I N S T I T U T I O N S 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 I N S T I T U T I O N S DEAL WITH SUSTAINED L I Q U I D I T Y PRESSURES.
BECAUSE THERE I S NOT THE SAME NEED TO REPAY SUCH BORROWING PROMPTLY AS THERE I S WITH T R A D I T I O N A L SHORTTERM ADJUSTMENT C R E D I T , THE MONEY MARKET IMPACT OF EXTENDED CREDIT I S S I M I L A R TO THAT OF NONBORROWED
RESERVES.
4
INCLUDES RESERVE BALANCES AND REQUIRED CLEARING BALANCES AT FEDERAL RESERVE BANKS I N THE CURRENT WEEK
PLUS VAULT CASH HELD TWO WEEKS EARLIER USED TO SATISFY RESERVE REQUIREMENTS AT ALL DEPOSITORY I N S T I T U TIONS PLUS CURRENCY OUTSIDE THE U . S . TREASURY, FEDERAL RESERVE BANKS, THE VAULTS OF DEPOSITORY I N S T I T U T I O N S , AND SURPLUS VAULT CASH AT DEPOSITORY I N S T I T U T I O N S .
5
ON JULY
7 , 1 9 8 2 BANK-RELATED COMMERCIAL PAPER OUTSTANDING WAS $ 37,886
MILLION.
6
Y I E L D AT 20-YEAR CONSTANT MATURITY.
SOURCE:
U . S . TREASURY.
NOTE:
ALL PERCENTAGE CHANGES ARB AT SEASONABLY ADJUSTED ANNUAL RATES, NOT COMPOUNDED.
P — I N D I C A T E S PRELIMINARY D A T A .
SPECIAL CAUTION SHOULD BE TAKEN I N INTERPRETING WEEK-TOWEEK CHANGES I N MONEY SUPPLY DATA, WHICH ARE OFTEN HIGHLY V O L A T I L E AND SUBJECT TO
R E V I S I O N I N SUBSEQUENT WEEKS AND MONTHS.





Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, St. Louis, MO 63102