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.'oOfgpw-. F E D E R A L R E S E R V E statistical release For Immediate Release WEEKLY SUMMARY OF BANKING AND CREDIT MEASURES (Averages of daily figures) H.9 (Rev. 9/77) May 11, 1978 Per cent Change (Seasonally Adjusted Annual Rates) Levels Week ended 4 Weeks ended May 10 ( May 3 May 10 I April 12 ($ Bil., SA) Average of 4 weeks ended May 10, 1978 13 weeks previous I26 weeks previous Reserve Aggregates^ 37.43 35.74 37.04 Total reserves Nonborrowed reserves Required reserves Monetary Aggregates Other Reserve Measures & Interest Rates Member bank borrowings ($ mil.) Includes seasonal borrowings of: Federal funds rate 3-month Treasury bill rate 90-119 day dealer placed commercial paper 2/ 3-month CD rate (secondary market) 3/ 90-day CD rate (primary offering) 4/ 3-month Euro-dollar rate U.S. Government bond rate 5/ \J 37.23 36.13 36.96 36.76 36.47 36.59 Week ended 4 Weeks ended May 3 "7 April 26 May 3 | April 5 C$ Bil., SA) M. (Currency plus demand deposits) M^ (M plus time deposits at commercial banks other than large time CD's) Time deposits, all commercial banks U.S. Government demand deposits, member banks NSA—not seasonally adjusted 37.33 35.66 36.96 4.0 -2.6 4.1 7.4 9.0 6.9 from 4 week averages | 52 weeks previous 6.7 3.9 6.3 Average of 4 weeks ended May 3, 1978 from 4 waeks averages 26 weeks previous |52 weeks previous 13 weeks previous 350.5 346.5 346.5 340.6 8.5 7.0 7.5 833.7 568.9 829.5 567.5 3.4 829.2 566.7 3.3 821.4 562.9 3.3 7.5 11.3 7.1 12.7 8.3 12.2 2.8 Week ended 4 Weeks ended May 10 | May 3 May 10 f April 12 (NSA) 1688 72 7.32 6.39 6.96 7.27 7.14 7.73 8.43 1665 60 7.27 6.38 6.91 7.24 7.05 7.63 8.38 1100 54 7.09 6.30 6.88 7.15 6.99 7.52 8.36 286 45 6.80 6.31 6.77 6.91 6.78 7.33 8.26 SA—seasonally adjusted Includes required reserves against Eurodollar 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/ On May 3, 1978 bank-related commercial paper amounted to 10114 million. 3/ Simple average of offering rates of negotiable certificates of deposit with 3-month maturity in secondary market. 4/ Posted ranges - the annual interest rates most often quoted on new offerings of negotiable certificates of deposit in denominations of $100,000 or more. 5/ Yield at 20-year constant maturity. Source: U.S. Treasury NOTE: All percentage changes are at seasonally adjusted annual rates, not compounded.
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