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^••ofCow„; FEDERAL RESERVE statistical release For immediate r e l e a s e July 25, 1980 H.9 (511) WEEKLY SUMMARY OF BANKING AND CREDIT MEASURES Averages of daily figures Levels 4 weeks ended Week ended June 25 July 23 July 16 July 23 Millions of dollars, seasonally adjusted Reserve aggregates 1 Total reserves Nonborrowed reserves Required reserves Monetary base2 43,110 42,756 43,184 159,159 43,760 43,428 43,420 159,587 43,610 43,298 43,349 159,304 44,135 43,741 43,904 158,892 Reserve aggregates (adjusted) 3 Total reserves Nonborrowed reserves Required reserves Monetary base2 42,802 42,448 42,876 158,851 43,452 43,120 43,112 159,280 43,312 42,999 43,051 159,006 43,359 42,966 43,128 158,117 4 weeks ended Week ended June 18 July 16p July 9p July 16p Billions of dollars, seasonally adjusted Monetary aggregates M-1A (Currency plus demand deposits) M-1B (M-1A plus other checkable deposits) Other reserve measures and interest rates Member bank borrowings ($ mil.) Includes seasonal borrowings of: Federal funds rate 3-month Treasury bill rate 90 day dealer placed commercial paper 4 3-month CD rate (secondary market) 3 month Eurodollar rate U.S. Government bond rate5 369.7 372.4 372.3 374.8 388.8 392.8 393.0 395.7 4 weeks ended Week ended July 23 1 June 25 July 23 1 July 16 Not seasonally adjusted 354 5 8.68 7.90 8.37 8.55 9.16 10.26 332 5 8.98 8.02 8.41 8.72 9.43 10.31 312 5 9.08 7.94 8.36 8.63 9.36 10.21 Percent change Average of 4 weeks ended July 23, 1980 from 4 weeks averages 52 weeks 26 weeks 13 weeks previous previous previous Seasonal y adjusted annual rates -1.2 18.8 -0.9 6.9 0.8 4.8 0.9 6.1 5.6 8.2 5.6 8.0 Average of 4 weeks ended July 16, 1980 from 4 weeks averages 52 weeks 26 weeks 13 weeks previous previous previous Seasonal y adjusted annual rates 1.5 3.3 0.7 2.3 3.1 4.4 394 13 9.62 7.05 8.30 8.49 9.44 9.93 1 Includes required reserves against deposits at member banks and Edge Act corporations; against bank related commercial paper; and marginal reserves against selected borrowings of member banks, Edge Act corporations and agencies and branches of foreign banks. Marginal squired reserves averaged $ 274 million in the week ending J u l y 23, 1980 and $27?, million in the week ending J u l y 16, 1980. 2 Includes total reserves (reserve balances of member banks, Edge Act corporations and agencies and branches of foreign banks in the current week and 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 nonmember banks. 3 Reserve aggregates series have been adjusted to remove discontinuities associated with marginal reserve requirements and changes in other reserve requirement regulations. 4 On July 16, 1980 bank-related commercial paper outstanding was $ 21,77Jmillion. 5 Yield at 20-year constant maturity. Source: U.S. Treasury. NOTE: All percentage changes are at seasonally adjusted annual rates, not compounded. p-lndicates preliminary data. Special caution should be taken in interpreting week-to-week changes in money supply data, which are often highly volatile and subject to revision in subsequent weeks and months.
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