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FEDERAL RESERVE

For Immediate Release

WEEKLY SUMMARY OF BANKING AND CREDIT MEASURES
(Averages of dally figures)

H.9C511)

Reserve Aggregates^
Total reserves
Nonborrowed reserves
Nonborrowed reserves
Monetary Basel'

M, (Currency plus demand deposits)
M~ (K, plus time deposits at commercial banks
other than large time CD's)
Time deposits, all commercial banks

Other Reserve Measures & 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 Euro-dollar rate
U.S. Government bond rate—

from 4 week averages
| 52 weeks previous

Week ended
4 Wmeks ended
July 18 I July 11 I July 18 I June 20
(9 Bil., SA)

Average of 4 weeks ended July 18, 1979
13 weeks previous |Z6 weeks previous

40,36
40.59
39.99
41.06
39.24
38.79
39.05
39.88
40.33
40.02
40.76
146.3
145.7
146.9
Week ended
4 Weeks ended
July 11 | June 13
July 11 | July 4
(9 Bil., SA)

-1.1
0.6
-3.8
-1.1
-4.1
-5.4
-1.1
0.0
-3.9
6.5
6.3
4.6
Average of 4 weeks ended July 11, 1979 from 4 wzeks averages
13 weeks previous
1 26 weeks previous |52 weeks previous

1

Monetary Aggregates

July 19, 1979

Per cent Change (Seasonally Adjusted Annual Rates)

Levels

NSA—not seasonally adjusted

statistical release

373.1

369.9

370.1

367.0

11.3

5.0

4.6

913.5
625.2

909.0
624.4

908.2
622.9

899.0
619.1

11.7
2.3

7.4
3.6

7.4
7.6

4 Weeks ended
Week ended
July 11 |July 18 [June 20
July id
CNSA)
1355
1572
1181
941
177
190
160
161
10.34
10.26
10.28
10.35
9.09
9.27
9.25
9.29
9.74
9.85
9.87
9.75
10.02
9.94
10.10
9.94
10.53
10.70
10.64
10.73
8.98
8.84
8.86
8.94

SA—seasonally adjusted

1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
;
Illllllllllli

1/ 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.
2/ Includes total reserves (member bank reserve balances in the current week plus 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 nonmenber banks.
3/ On July 11, 1979, bank-related commercial paper amounted to $18,005 million.
4/ Simple average of offering ratea of negotiable certificates of deposit with 3-month maturity in secondary market.
5/ Yield at 20-year constant maturity. Source: U.S. Treasury.
NOTE: All percentage changes are at seasonally adjusted annual rates, not compounded.