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FEDERAL RESERVE statistical release For Immediate Release H.9 (511) WEEKLY SUMMARY OF BANKING A N D CREDIT MEASURES Averages of daily figures Levels Week ended June 18 June 20, 1980 CORRECTED COPY June 11 4 weeks ended June 18 May 21 Millions of dollars, seasonally adjusted Reserve aggregates1 Total reserves Nonborrowed reserves Required reserves Monetary base2 43,520 43,124 43,436 158,572 44,085 43,684 44,019 158,537 44,303 43,708 44,158 158,972 44,435 42,972 44,232 158,215 Reserve aggregates (adjusted) 3 Total reserves Nonborrowed reserves Required reserves Monetary base 2 43,215 42,819 43,133 158,268 42,784 42,383 42,718 157,237 c-43,236 42,641 43,091 157.905 43,420 41,957 43,217 157.201 Week ended 4 weeks ended June l i p June l i p May 14 June 4p Billions of dollars, seasonally adjusted Monetary aggregates - REVISED SERIES 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* 3-month CD rate (secondary market) 3-month Eurodollar rate U.S. Government bond rate5 368.6 366.3 384.9 3 8 7 .4 4 weeks ended Week ended May 21 June 18 | June l i t June 18 Not seasonally adjusted 369.4 388.9 369, 388, 396 401 13 9, 68 6. 89 8, 28 8.54 9.45 9.96 11 8.99 6.49 7.97 8.17 8.99 9.61 595 19 9.72 7.19 8.33 8.55 9.58 10.08 Percent change Average of 4 weeks ended June 18, 1980 from 4 weeks averages 52 weeks 26 weeks 13 weeks previous previous previous Seasonal y adjusted annual rates 0.2 1.4 21.5 6.8 -5.5 -4.1 0.4 6.2 8.9 6.3 2.4 0.2 3,3 AJJL 5-Q Average of 4 weeks ended June 1 1 , 1980 from 4 weeks averages 52 weeks 26 weeks 13 weeks previous previous previous Seasonal y adjusted annual rates 1.6 3.2 4.3 1463 104 12.41 9.49 10.74 11.11 12.64 10.61 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 required reserves averaged $ 270 million in the week ending June 18, 1980 and $ 1267 million in the week ending June 11, 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 June 11, 1980 bank-related commercial paper outstanding was $ 21976 million. 5 Yield at 20-year constant maturity. Source: U.S. Treasury. NOTE: All percentage changes are at seasonally adjusted annual rates, not compounded. p-Indicates 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. c - Corrected.