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C^jlsxx0-KCX~ FEDERAL RESERVE statistical release For Immediate Release March 7, 1980 H.9 (511) WEEKLY SUMMARY OF BANKING AND CREDIT MEASURES Averages of daily figures Levels Week ended Mar. 5 Feb. 27 4 weeks ended Mar. 5 Feb. 6 Millions of dollars, seasonally adjusted Reserve aggregates 1 Total reserves Nonborrowed reserves Required reserves Monetary base 2 43,684 41,176 43,128 156,375 43,490 41,433 43,718 156,003 43.502 41.503 43,313 155,866 43,383 42,133 42,976 154,944 Reserve aggregates ( a d j u s t e d ) 3 Total reserves Nonborrowed reserves Required reserves Monetary base 2 43,300 40,792 42,744 155,991 43,151 41,094 43,379 155,664 43,165 41,166 42,976 155,529 43,103 41,852 42,696 154,664 Week ended 4 weeks ended Feb. 27p Feb. 2Op Feb. 27p Jan. 30p Billions of dollars, seasonally adjusted Monetary aggregates M-1A (Currency plus demand deposits) M-1B(M-1A plus other checkable deposits) 374.7 391.2 377.5 394.1 376.4 392.8 Percent change Average of 4 week* ended March 5, 1980 from A weeks averages 52 weeks 13 weeks 26 weeks previous previous previous Seasonal y adjusted annual rates 5.0 8.1 5.3 2.7 4.4 4.5 5.0 8.5 5.3 8.4 8.4 8.3 Average of 4 weeks ended February 27, 1980 from 4 weeks averages 26 weeks 52 weeks 13 weeks previous previous previous Seasonal y adjusted annual rates 372.6 7.2 6.0 7.6 389.0 7.7 6.4 8.9 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 — d a y dealer placed commercial paper 4 3-month CD rate (secondary market) 3-month Eurodollar rate U.S. Government bond rate5 2508 114 16.17 14.62 15.34 15.97 17.16 12.34 2057 109 14.62 13.63 14.60 15.30 16.46 12.87 1999 104 14.83 13.32 14.16 14.74 15.84 12.37 1251 78 13.51 12.03 13.03 13.38 14.27 10.93 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 $ 343 million in the week ending March 5 , 1980 and $ 297 . million in the week ending February 27, 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 February 27,1980bank-related commercial paper outstanding was $ 22,854 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 veek-to-treek changes in mon'ey supply data, which are often highly volatile and subject to revision ±n subsequent weeks and months.