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FEDERAL RESERVE statistical release F o r Immediate R e l e a s e March 2 8 , 1980 H.9 (511) WEEKLY SUMMARY OF BANKING AND CREDIT MEASURES Averages of daily figures 4 weeks ended Week ended Mar. 26 Percent change Average of 4 weeks ended March 2 6 , 1980 from 4 weeks averages 52 weeks 26 weeks 13 weeks previous previous previous Seasonal iy adjusted annual rates Levels Mar. 19 Mar. 26 F e b . 27 Millions of dollars, seasonally adjusted Reserve aggregates 1 Total reserves Nonborrowed reserves Required reserves Monetary base 2 43,616 40,956 43,469 156,810 43,943 40,942 43,720 156,994 43,645 40,743 43,391 156,546 43,373 41,811 43,184 155,577 Reserve aggregates (adjusted) 3 Total reserves Nonborrowed reserves Required reserves Monetary base 2 43,163 40,503 43,016 156 , 358 43,554 40,553 43,331 156,604 43,247 40,345 42,992 156,147 43,058 41,497 42,869 155,262 1.4 -12.0 2.4 7.9 4 weeks ended Week ended , March 1 9 , 1980 from 4 weeks averages 52 weeks 26 weeks 13 weeks previous previous previous Seasonal y adjusted annual rates Mar. 19p Mar. 12p Mar. 19p Feb. 2Op Billions of dollars, seasonally adjusted Monetary aggregates M-1A (Currency plus demand deposits) M-1B (M~l plus other checkable deposits 375.0 376.2 375.1 376.0 6.0 4.5 6.8 391.9 393.3 391.9 392.4 6.5 4.9 8.0 Week ended 4 weeks ended Mar. 19 | Mar. 26 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 4 3-month CD rate (secondary market) 3-month Eurodollar rate U.S. Government bond rate 5 7.8 5.5 0.5 0.9 7.5 5.2 8.0 8.4 Average of 4 weeks ended 2660 177 17.78 15.61 16.81 17.63 18.99 12.65 3001 155 16.24 14.80 17.10 18.04 18.98 12.28 2902 146 16.66 15.14 16.57 17.31 18.43 12.46 1562 93 13.98 12.69 13.60 14.10 15.12 • •— 1 = 12.16 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 $ 413 million in the week ending March 2 6 , 1980 and $ 351 million in the week ending March 1 9 , 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 1 9 , 1980 bank-related commercial paper outstanding was $ 2 2 , 4 3 7 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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