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* oOlGOwV- FEDERAL RESERVE statistical release * vf^LRfc^* H.9(511) For Release at 4:10 p.m. EST JUNE 2 5 , WEEKLY SUMMARY OF BANKING AND CREDIT MEASURES 1982 Averages of daily figures Levels Week ended 4 weeks ended JUNE 23P JUNE 16P JUNE 23P HAY 26P Millions of dollars, seasonally adjusted Reserve aggregates (adjusted)1 Total reserves2 Nonborrowed reserves Nonborrowed reserves plus extended credit 3 Required reserves Monetary base4 41,455 40,524 40,628 41,235 172,261 41,572 40,557 40,653 41,291 171,988 Week ended JUNE 16P 41,4*2 40,337 40,449 41,076 172,016 41,310 40,(153 40,340 40,998 170,785 4 weeks ended JUNE 9P JUNE 16P MAY 19P Billions of dollars, seasonally adjusted M1 Sum of currency, travelers checks, demand deposits, and other checkable deposits. 454.8 452.5 Week ended JUNE 23 453.0 45*.0 Percent change Average of 4 weeks ended JUNE 2 3 , 1982P from 4 weeks averages 13 weeks 26 weeks 52 weeks previous previous previous Seasonally adjusted annual rates 3.6 8.4 6.4 3.8 9.1 4.6 1-7 4.8 7.7 4.6 4.7 6.5 1.6 8.0 8.0 Average of 4 weeks ended JUNE 1 6 , (1982P from 4 weeks averages 13 weeks 26 weeks 52 weeks previous previous previous Seasonally adjusted annual rates 4.5 6.6 5.7 4 weeks ended JUNE 16 JUNE 23 MAY 26 Not seasonally adjusted 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® 3-month CD rate (secondary market) 3-month Eurodollar rate U.S. Government bond rate® 1 1015 253 96 14. 12. 14. 15. 16. 14. 17 70 40 00 09 45 931 221 104 1 4 ., 2 4 1 2 . ,20 13.,67 1 4 . ,10 1 5 . ,05 1 4 . ,07 1075 238 112 1 3 . 86 1 2 . 21 <13. 64 1 4 . 11 1 5 . 08 1 4 . 05 1157 228 187 1 4 . 72 1 2 . 17 1 3 . ,50 1 3 . ,89 1 4 . 59 1 3 . 46 .RESERVE AGGREGATES INCLUDE REQUIRED RESERVES OF MEMBER BANKS AND EDGE ACT CORPORATIONS AND OTHER DEPOSITORY I N S T I T U T I O N S . D I S C O N T I N U I T I E S ASSOCIATED WITH THE IMPLEMENTATION OF THE MONETARY CONTROL ACT, THE INCLUSION OF EDGE ACT CORPORATION .RESERVES, AND OTHER CHANGES I N REGULATION D HAVE BEEN REMOVED. BEGINNING WITH THE WEEK ENDED DECEMBER 3 1 , 1981 RESERVES AGGREGATES HAVE BEEN SEDUCED BY SHIFTS OF RESERVABLE L I A B I L I T I E S TO INTERNATIONAL BANKING F A C I L I T I E S ( I B F S ) . 2 RESERVE BALANCES WITH FEDERAL RESERVE BANKS (WHICH EXCLUDE REQUIRED CLEARING BALANCES^ PLUS VAULT CASH AT INSTITUTIONS WITH REQUIRED RESERVE BALANCES PLUS VAULT CASH EQUAL TO REQUIRED RESERVES AT OTHER INSTITUTIONS. 3 EXTENDED CREDIT CONSISTS OF BORROWING AT THE DISCOUNT WINDOW UNDER THE TERMS AND CONDITIONS ESTABLISHED FOR THE EXTENDED CREDIT PROGRAM TO HELP DEPOSITORY I N S T I T U T I O N S DEAL WITH SUSTAINED L I Q U I D I T Y PRESSURES. BECAUSE THERE I S NOT THE SAME NEED TO REPAY SUCH BORROWING PROMPTLY AS THERE I S WITH TRADITIONAL SHORTTERM ADJUSTMENT CREDIT, THE MONEY MARKET IMPACT OF EXTENDED CREDIT I S S I M I L A R TO THAT Of NONBORROWED RESERVES. 4 INCLUDES RESERVE BALANCES AND REQUIRED CLEARING BALANCES AT FEDERAL RESERVE BANKS I N THE CURRENT WEEK PLUS VAULT CASH HELD TWO WEEKS EARLIER USED TO SATISFY RESERVE REQUIREMENTS AT ALL DEPOSITORY I N S T I T U TIONS PLUS CURRENCY OUTSIDE THE U . S . TREASURY, FEDERAL RESERVE BANKS, THE VAULTS OF DEPOSITORY I N S T I T U TIONS, AND SURPLUS VAULT CASH AT DEPOSITORY I N S T I T U T I O N S . 5 ON JUNE 16, 1982 BANK-RELATED COMMERCIAL PAPER OUTSTANDING WAS $ 3 6 , 5 5 8 M I L L I O N . 6 YIELD AT 20-YEAR CONSTANT MATURITY. SOURCE: U . S . TREASURY. NOTE: ALL PERCENTAGE CHANGES ARB AT SEASONALLY ADJUSTED ANNUAL RATES, NOT COMPOUNDED. P — I N D I C A T E S PRELIMINARY DATA. SPECIAL CAUTION SHOULD BE TAKEN I N INTERPRETING KEEK-TOWEEK CHANGES I N MONEY SUPPLY DATA, WHICH ARB OFTEN HIGHLY VOLATILE AND SUBJECT TO REVISION I N SUBSEQUENT WEEKS AND MONTHS.
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