Full text of H.9 Weekly Summary of Reserves and Interest Rates : March 29, 1973

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R E S E R V E
(Rev. 4 / 7 2 )

APR

2

s t a t i s t i c a l

Reserve Aggregates 1 / 2 /
Total reserves
Nonborrowed r e s e r v e s
Required r e s e r v e s
R e s e r v e s A v a i l a b l e t o S u p p o r t P v t . Nonbank D e p o s i t s

Monetary A g g r e g a t e s
( C u r r e n c y p l u s demand d e p o s i t s )
Mg (M^ p l u s time d e p o s i t s a t commercial b a n k s )
o t h e r t h a n l a r g e time C D ' s )
A d j u s t e d c r e d i t proxy 3 /
Time d e p o s i t s , a l l commercial banks
U . S . Government demand d e p o s i t s , member banks
O t h e r R e s e r v e Measures & I n t e r e s t R a t e s
Member bank b o r r o w i n g s (j? m i l . )
F r e e or n e t borrowed ( - ) r e s e r v e s ($ m i l . ) 2_/
Federal funds r a t e
3-month T r e a s u r y b i l l r a t e
. 9 0 - 1 1 9 day d e a l e r p l a c e d commercial p a p e r r a t e 4 /
3-month.CD r a t e ( s e c o n d a r y m a r k e t ) 5 /
3-month E u r o - d o l l a r r a t e
U . S . Government bond r a t e 6 /

; 7

r e l e a s e

WEEKLY SUMMARY OF BANKING AND CREDIT MEASURES
(Averages of d a i l y f i g u r e s ) ,

*?>? ni.-HvinND

v

For Immediate Relec?<
March 29, 1973 '

P q r p q n t Change f R e n s o n a l l v ; A d j u s t - ^ t n n „ , i

Ri,fpgt

Week ended
4 Wks. ended
March 28 IMarch 21 March 28 1 F e b . 2 8
($ B i l . , SA)
31.72
32.08
31.97
31.65
29.38
28.74
29.39
29.77
31.66
31.80
31.76
31.44
29.51
^ -29.72
29.61
29.30

Average of 4 Weeks Ended March 28. 1973frnm 4 Week A v e r a ^ . i
!3 weeks p r e v i o u s
| 26 weeks p r e v i o u s
1 52 weeks p r e v i o u s

I
4 Wks.
March 21 iMarch 14 1 March 21 1 F e b . 21
L
($ B1 I . , SA)
257.4
255.9
256.7
256.3

Average of 4 Weeks Ended March 21, 1973 from 4 Week Averages
13 weeks p r e v i o u s
| 26 weeks p r e v i o u s
| 52 weeks p r e v i o u s

8.9

11.3

-8.0

-1.6

9.2
10.4

11.4
10.1

4.3

5.4

10.0
2 .3
10.0
9.5

6.6

531.5
533.6
529.9
532.1
420.3
423.6
412.9
420.1
330.1
331.4
328.5
321.1
6.7
8.5
7.6
6.9
Week ended
4 Wks. ended
March 281 March 21 I March 281 F e b . 28

-1943

-1639

6.28
7.00
7 .23
8.59
6.89

NSA--Not S e a s o n a l l y A d j u s t e d .
8A--Seaeonally Adjusted.
1 / I n c l u d e s r e q u i r e d r e s e r v e s a g a i n s t E u r o - d o l l a r b o r r o w i n g s and b a n k - r e l a t e d commercial p a p e r . R e s e r v e s A v a i l a b l e t o S u p p o r t P r i v a t e Nonbank D e p o s i t s a r e
r e q u i r e d r e s e r v e s f o r p r i v a t e demand d e p o s i t s , t o t a l time and s a v i n g s d e p o s i t s , n o n d e p o s i t s o u r c e s s u b j e c t t o r e s e r v e r e q u i r e m e n t s and e x c e s s r e s e r v e s .
R e s e r v e a g g r e g a t e s r e f l e c t t h e change i n R e g u l a t i o n D e f f e c t i v e November 9, which r e d u c e d r e q u i r e d r e s e r v e s by a b o u t $ 3 . 2 b i l l i o n . Per c e n t a n n u a l r a t e s
of growth f o r r e q u i r e d r e s e r v e s and o t h e r r e s e r v e a g g r e g a t e s have been a d j u s t e d t o remove t h e e f f e c t of t h i s s t r u c t u r a l c h a n g e .
2 / A d j u s t e d t o i n c l u d e c e r t a i n r e s e r v e d e f i c i e n c i e s on which p e n a l t i e s can be waived f o r a t r a n s i t i o n p e r i o d i n c o n n e c t i o n w i t h bank a d a p t a t i o n t o R e g u l a t i o n J
a s amended e f f e c t i v e November 9, 1972. The a d j u s t m e n t amounted t o $450 m i l l i o n from November 9 t o December 2 7 , and $279 m i l l i o n t h e r e a f t e r .
3 / I n c l u d e s member bank d e p o s i t s , b a n k - r e l a t e d commercial p a p e r , E u r o - d o l l a r b o r r o w i n g s of U . S . b a n k s , and c e r t a i n n o n d e p o s i t i t e m s .
<±! On March 21 b a n k - r e l a t e d commercial paper amounted t o $ 3 , 3 1 6 m i l l i o n .
5 / Average of r a n g e of o f f e r i n g r a t e s of n e g o t i a b l e c e r t i f i c a t e s of d e p o s i t w i t h 3-month m a t u r i t y i n s e c o n d a r y m a r k e t .
6 / D a i l y a v e r a g e y i e l d on 2 0 - y e a r b o n d s .
Source: U.S. Treasury
NOTE: A l l p e r c e n t a g e changes a r e a t s e a s o n a l l y a d j u s t e d a n n u a l r a t e s , not compounded.




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