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L o O ^ V

F E D E R A L

statistical

R E S E R V E

For Immediate Release

WEEKLY SUMMARY OF BANKING AND CREDIT MEASURES
(Average* of daily figures)

H.9
(lev. 9/77)

Week ended

July 19

|July 12

| June 21

Average of 4 weeks ended July 19, 1978
13 weeks previous |25 weeks previous

from 4 week averages
| 52 weeks previous

($ Bil., SA)

1/

39.24
37.65
38.89

Total reserves
Honborrowed reserves
Required reserves

37.29
36.38
37.45

Week ended
July 12 |July 5
Monetary Aggregates

%

(Currency plus demand deposits)
(M- plus time deposits at commercial banks
other than large time CD's)
Time deposits, all commercial banks
U.S. Government demand deposits, member banks

38.26
36.91
37.95

4 Weeks ended
July 12 | June 14
($ Bil./SA)

14.7
3.1
13.7

9.8
5.2
9.7

8.7
5.8
8.7

Average of 4 weeks ended July 12, 1978 from 4 waeks averages"
13 weeks previous
| 26 weeks previous | 52 weeks previous

352.2

354.2

351.4

350.4

10.0

7.7

7.9

845.5
581.0
3.9

846.8
579.5
6.2

843.3
578.5
4.9

839.2
576.3
2.7

8.9
10.0

8.0
11.4

11.4
12.2

4 Weeks ended
July 19 | June 21

TO

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 2/
3-month CD rate (secondary market) 3/
90-day CD rate (primary offering)
3-month Euro-dollar rate
U.S. Government bond rate 5/

37.60
36.60
37.41

I

Week ended
July 19 | July 12

NSA—not seasonally adjusted

4 Weeks ended

July 19

July 20, 1978

Per cent Change (Seasonally Adjusted Annual Rates)

Levels

Reserve Aggregates

release

1589
134
7.94
7.08
7.88
8.16

904
130
7.72
7.15
7.84
8.11

8.58
8.70

8.46
8.71

8.00

8.00

1315
135
7.79
7.02
7.81
8.10
8.00
8.58
8.67

1008
114
7.46
6.64
7.43
7.68
7.53
8.15
8.49

SA—seasonally adjusted

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/ On July 12, 1978
bank-related commercial paper amounted to 11,799million.
3/ Average of range of offering rates of negotiable certificates of deposit with 3-month maturity in secondary market.
4/ Posted ranges • the annual interest rates most often queted on new offerings of negotiable certificates of deposit in denominations of $100,000 or more.
Digitized for
T/FRASER
Yield at 20-year constant maturity. Source: U.S. Treasury
http://fraser.stlouisfed.org/
NOTE: All percentage changes are at seasonally adjusted annual rates, not compounded.
Federal Reserve Bank of St. Louis