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FEDERAL RESERVE statistical release For Release at 4:15 p.m. Eastern Time H.9 (511) June WEEKLY SUMMARY OF RESERVES AND INTEREST RATES Averages of daily figures Levels 4 weeks ended Week ended June Reserve aggregates (adjusted)1 Total reserves 2 Nonborrowed reserves Nonborrowed reserves plus extended credit 3 Required reserves Monetary base 4 May 18P J u n e 15P June BP 15P Millions of dollars, seasonally adjusted 41,497 40,591 41,044 40,840 183,955 41,294 39,482 40,578 40,930 183,592 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 paper 5 3-month CD rate (secondary market) 3-month Eurodollar rate U.S. Government bond rate 6 1 2 3 15 1812 1 10 1096 8.84 8.73 8 . 96 9 . 15 9.60 11.06 41,156 40,187 40,687 40,694 182,097 1983 Percent change Average of 4 weeks ended J u n e 1 5 , 1983P from 4 weeks averages "52 weeks 26 weeks 13 weeks previous previous previous Seasonally adjusted annual rates 6.9 1.7 5.0 4.3 9.6 10.1 6. 1 1.2 3.5 3.9 6.9 6.8 8.1 6.4 8.7 4 weeks ended Week ended June 41,445 40,244 40,892 40,933 183,640 17, J u n e 15 June 8 Not seasonally adjusted 906 107 453 8.84 8.67 8.84 9.07 9.58 11.12 1201 107 648 8.79 8.58 8.73 8.94 9.43 11.02 May 18 969 93 501 8. 6 1 8. 08 8. 27 8. 39 8. 8 9 10. 55 R e s e r v e a g g r e g a t e s i n c l u d e r e q u i r e d r e s e r v e s o f member b a n k s and E d g e A c t C o r p o r a t i o n s and o t h e r d e p o sitory institutions. D i s c o n t i n u i t i e s a s s o c i a t e d w i t h t h e i m p l e m e n t a t i o n of t h e Monetary C o n t r o l Act, t h e i n c l u s i o n o f E d g e A c t C o r p o r a t i o n r e s e r v e s , and o t h e r c h a n g e s i n R e g u l a t i o n D h a v e b e e n r e m o v e d . R e s e r v e b a l a n c e s w i t h F e d e r a l R e s e r v e Banks (which e x c l u d e r e q u i r e d c l e a r i n g b a l a n c e s ) p l u s v a u l t c a s h at i n s t i t u t i o n s with required r e s e r v e balances plus vault cash equal t o required r e s e r v e s at other Extended c r e d i t for the extended Because t h e r e i s term a d j u s t m e n t 4 c o n s i s t s o f b o r r o w i n g a t t h e d i s c o u n t window u n d e r t h e t e r m s and c o n d i t i o n s e s t a b l i s h e d c r e d i t program t o h e l p d e p o s i t o r y i n s t i t u t i o n s d e a l w i t h s u s t a i n e d l i q u i d i t y p r e s s u r e s . n o t t h e same need t o r e p a y s u c h b o r r o w i n g p r o m p t l y a s t h e r e i s w i t h t r a d i t i o n a l s h o r t c r e d i t , t h e money m a r k e t i m p a c t o f e x t e n d e d c r e d i t i s s i m i l a r t o t h a t o f n o n b o r r o w e d I n c l u d e s " r e s e r v e b a l a n c e s a n d r e q u i r e d c l e a r i n g b a l a n c e s a t F e d e r a l R e s e r v e B a n k s i n t h e c u r r e n t week p l u s v a u l t c a s h held two weeks e a r l i e r used t o s a t i s f y r e s e r v e r e q u i r e m e n t s a t a l l d e p o s i t o r y i n s t i t u t i o n s p l u s currency o u t s i d e the O.S. T r e a s u r y , Federal Reserve Banks, t h e v a u l t s of d e p o s i t o r y i n s t i t u t i o n s , and s u r p l u s v a u l t c a s h a t d e p o s i t o r y i n s t i t u t i o n s . 5 On J u n e 8 , 1 9 8 3 b a n k - r e l a t e d c o m m e r c i a l p a p e r o u t s t a n d i n g w a s $ 3 4 , 6 4 1 m i l l i o n . 6 yield at 20-year constant maturity. Source: O.S. T r e a s u r y . Mote: A l l p e r c e n t a g e c h a n g e s a r e a t s e a s o n a l l y a d j u s t e d a n n u a l r a t e s , not compounded. p—indicates preliminary data.
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