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/ # & ,

FEDERAL

statist

RESERVE

1^1*

34.15
33.81
34.06

Total reserves
Nonborrowed reserves
Required reserves

(Currency plus demand deposits)
#L (M« plus time deposits at comm rcial banks
other than large time CD's)
Adjusted credit proxy 2/
Tims deposits, all commercial banks
U S Government demand deposits, member banks
Other Reserve Measures & Interest Rates

1/

34.20
34.10
34.02

34.44
34.35
34.24

4 Wks. ended
Week ended
Mar. 16 I Feb. 15"
Mar. 16
|Mar. 9
($ Bil., SA>
313.5
314.7
314.5
316.4

Monetary Aggregates

**A--Mot Seasonally Adjusted

34.23
34.20
34.06

3/

March 24, 1977

Percent Change (Seasonally

Week ended
I
4 Wks. ended
Mar. 43
1 Mar, lb I Mar. »
I Pefc.TT
SA)
($ Bil

Reserve Aggregates^

Member bank borrowings ($ mil.)
Includes seasonal borrowings of:
Federal funds rate
3-month Treasury bill rate
90-119 day dealer placed commercial paper rate
3-month CD rate (secondary market) 4/
90-day CD rate (primary offering) 5/
3-month Euro-dollar rate
U.S. Government bond rate 6/

For limned late Release

WEEKLY SUWARY OF BANKING AND CREDIT MEASURES•
(Averages of daily figures)

H.9
(Rev. 1/76)

747.7
752.1
752.6
755.6
540.1
541.0
541.0
543.6
497.3
500.2
500.4
501.2
3.0
2.3
2.0
3.7
4 Wks. ended
Week ended
Mar. 231 Feb. 23
Mar. 23 1 Mar. 16
(NSA)
82
105
25
339
12
12
12
13
4.68
4.67
4.62
4.77
4.62
4.67
4.59
4.57
4.75
4.77
4.75
4.75
4.83
4.85
4.83
4.80
4.69
4.74
4.75
4.71
5.09
5.11
5.10
5.08
7.62
7.74
7.73
7.71

Annual Rfifftfi)-

Average of 4 Weeks Ended Mar. 23, 1977 from 4 Week Averages
13 weeks previous 1 26 weeks previous"" | 52 weeks previous

-2.8
-3.4

-1.8

2.3

2.0
2.5

2.1
2.0

2.2

Average of 4 Weeks Ended Mar. 15, 1V7T" "from 4 Week Averages
13 weeks previous | 26 weeks previous"" | 52 weeks previous
5.5

5.2

5.8

9.0
3.2
9.9

10.7
6.9
12.5

10.5

4.9
9.4

r
KwKvi;

SA--Seasonally \djusted.

Includes required reserves against Euro-dollar borrowings and bank-related commercial paper. Reserve aggregates reflect changes in Regulation D. Per
cent annual rates of growth for required reserves and other reserve aggregates have been adjusted to remove the effect of these structural changes.
2/ Includes member bank deposits, loans sold to bank-related institutions, Euro-dollar borrowings of U.S. banks, and certain nondeposit items.
3/ On March 16, 19.77
bank-related commercial paper amounted to 7554 million.
4/ Average of range of offering rates of negotiable certificates of deposit with three month maturity in secondary market.
5/ Posted rates • the annual interest rates most often quoted on new offerings of negotiable certificates of deposit in denominations of $100,000 or more.
6/ Yield at 20-year constant maturity. Source: U.S. Treasury.
NOTE:
All percentage changes are at seasonally adjusted annual rates, not compounded.