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FEDERAL RESERVE statistical release **f^4LRtS^. For Immediate Release H.9 (511) March 21, 1980 WEEKLY SUMMARY OF BANKING AND CREDIT MEASURES Averages of daily figures Levels Week ended March 19 March 12 4 weeks ended March 19 Feb. 20 Millions of dollars, seasonally adjusted Reserve aggregates 1 Total reserves Nonborrowed reserves Required reserves Monetary base 2 43,931 40,930 43,720 157,124 43,365 39,926 43,226 156,044 43,613 40,862 43,455 156,384 43,376 41,873 43,060 155,375 Reserve aggregates (adjusted) 3 Total reserves Nonborrowed reserves Required reserves Monetary base 2 43,541 40,540 43,330 156,734 42,998 39,559 42,859 155.677 43,243 40,491 43,085 156.014 43,067 41,564 42,751 155.065 Week ended 4 weeks ended March 12p March 5p March 12p Feb. 13p Billions of dollars, seasonally adjusted Monetary aggregates M-1A (Currency plus demand deposits) M-1B (M-1A plus other checkable deposits) 3.2 7.8 5.6 -6.9 1.2 1.3 8.4 4.2 5.5 8.4 8.2 8.6 Average of 4 weeks ended March 12, 1980 from 4 weeks averages 13 weeks 26 weeks 52 weeks previous previous previous Seasonal y adjusted annual rates 376.3 374.6 375.8 374.5 6.8 5.1 7.1 393.3 391.4 392.5 390.9 7.4 5.5 8.4 Week ended 4 weeks ended March 19 I March 12 March 19 1 Feb. 20 Not seasonally adjusted 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 Percent change Average of 4 weeks ended March 19, 1980 from 4 weeks averages 13 weeks 26 weeks 52 weeks previous previous previous Seasonally adjusted annual rates 3001 155 16.24 14.80 17.10 18.04 18.98 12.28 3439 139 16.45 15.51 17.01 17.60 18.58 12.55 2751 129 15.87 14.64 16.01 16.73 17.80 12.51 1503 88 13.71 12.33 13.21 13.62 14.61 11.71 • 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 $ 351 million in the week ending March 19, 1980 and $ 329 million in the week ending March 12, 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 March 12, 1980 bank-related commercial paper outstanding was $ 22,818 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.
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