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F E D E R A L

R E S E R V E

statistical

release

f*Al_ RfcS*;.

H.9

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

(Rev. 1/76)

Levels

Reserve Aggregates—
Total reserves
Nonborrowed reserves
Required reserves

34.64
34.48
34.65

4 W k s . ended

May 4
M a y 11
($ Bil., SA)
35.32
35.11
35.03

34.92
34.79
34.80

W e e k ended
Mav 4

Monetary Aggregates
Mj (Currency plus demand deposits)
Mj (Mj plus time deposits at commercial banks
other than large time CD's)
Adjusted credit proxy 2J
Time deposits, all commercial banks
•V.S. Government demand deposits, member banks

321.2

34.41
34.29
34.17

4 Wks . ended

lApril 37j Mav U
($ Bil., SA)

I Apr-n a

321.6

317.1

764.0
545.6
502.5
2.9
Week ended

762.8
546.3

756.3
543.8
501.4

oaz-U

Other Reserve Measures & Interest Rates

I April 11

322.8

762.6
544.5

May 12, 1977

Percent Change

W e e k ended
May 11

For Immediate Release

(Seasonally Adjusted Annual Raios)

Average of 4 Weeks Ended Mav 11 . 1977
13 weeks previous
I 26 weeks previous

2.3
1.9
2.9

4.6
4.5
4.9

Average of 4 Weeks Ended Mav 4. 1977
13 weeks previous
| 26 weeks previous
9.4

7.1

from 4 W e e k Averages
I 52 weeks previous

3.6
3.4
3.8
from 4 W e e k Averages
1 52 weeks previous

6.2

wks. ended
(NSA)

April

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^/
N5A--Not Seasonally Adjusted

3/

S A — S e a s o n a l l y Adjusted.

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.
Includes member bank deposits, loans sold to bank-related institutions, Euro-dollar borrowings of U.S. banks, and certain nondeposit items.
On May 4, 1977
bank-related commercial paper amounted to $7333million.
A v e r a g e of range of offering rates of negotiable certificates of deposit with three month maturity in secondary market.
Posted rates - the annual interest rates most often quoted on new offerings of negotiable certificates of deposit in denominations of $100,000 or m o r e .
Yield at 20-year constant maturity. Source: U.S. Treasury.
DigitizedNOTE:
for FRASER
A l l percentage changes are at seasonally adjusted annual rates, not compounded.
1/

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