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Zof GOWJ FEDERAL H.9 (Rev. 1/76) R E S E R V E Total reserves Nonborrowed reserves Required reserves Monetary Aggregates M, (Currency plus demand deposits) (M1 plus time deposits at commercial banks other than large time CD's) Adjusted credit proxy 2/ Time deposits, all commercial banks U.S. Government demand deposits, member banks "5 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 rate 3/ 3-month CD rate (secondary market) 4/ 90-day CD rate (primary offering) 5/ 3-month Euro-dollar rate U.S. Government bond rate 6/ release For Immediate Release July 21, 1977 WEEKLY SUMMARY OF BANKING AND CREDIT MEASURES (Averages of daily figures) Percent Change (Seasonally Adjusted Annual Rales). Levels Reserve Aggregates^ statistical 4 Wks . ended Week ended June 22 July ZU July 13 July 2Q ($ Bil., SA) 35.66 35.25 35.16 35.14 34.98 34.68 35.43 35.14 35.02 34.73 34.50 34.54 4 Wks. ended Week ended July 13 I June 15 July 13 1 July 6 ($ Bil., SA) 321.2 325.6 323.6 323.9 780.1 780.1 555.7 553.7 518.4 519.1 1.8 2.6 Week ended July 20 1 July 13 406 56 5.35 5.20 5.38 5.45 5.38 5.75 7.61 159 52 5.33 5.14 5.38 5.45 5.25 5.79 7.59 770.3 777.2 549.2 554.3 512.3 517.5 3.5 2.9 4 Wks. ended July 20 1 June 22 (NSA) 237 291 48 59 5.37 5.37 5.03 5.09 5.45 5.38 5.45 5.43 5.36 5.30 5.84 5.78 7.67 7.59 Average of 4 Weeks Ended July 20, 1977 f r o m 4 Week Averages 52 weeks previous 13 weeks previous | 26 weeks previous 10.0 7.2 7.9 4.2 2.8 3.5 4.3 3.8 4.0 Average of 4 Weeks Ended July 13, 1977 from 4 Week Averages 13 weeks previous | 26 weeks previous | 52 weeks previous 7.7 6.0 6.7 8.9 7.1 9.9 8.9 5.0 9.6 10.9 6.2 10.6 SA--Seasonally Xdjus ted . NSA--Not Seasonally Adjusted 1/ Includes required reserves against Euro-dollar 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 member bank deposits, loans sold to bank-related institutions,' Euro-dollar borrowings of U.S. banks, and certain nondeposit items. 3/ On July 13, 1977 bank-related commercial paper amounted to 8074 million. 4/ Average of range of offering rates of negotiable certificates of deposit with three month maturity in secondary market. 5/ Posted rates = the annual interest rates most often quoted on new offerings of negotiable certificates of deposit in denominations of $100,000 or more. 6/ Yield at 20-year constant maturity. Source: U.S. Treasury. All percentage changes are at seasonally adjusted annual rates, not compounded. NOTE:
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