Full text of H.9 Weekly Summary of Reserves and Interest Rates : May 16, 1974

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

2

;'oi'tfe
a

F E D

E R - A l

s t a t i s t i c a l

R E S E R V E

r e l e a s e

%
For Immediate R e l e a s e
May 16, 1974

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

P e r c e n t Change ( S e a s o n a l l y A d j u s t e d Annual B a f e s )
WefelT ended
4 Wks. ended
May 15
1 A p r i l 17
May 15
I May 8
($ B i l . , SA)

Reserve A g g r e g a t e s 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 Support P v t . Nonbank D e p o s i t s

Monetary A g g r e g a t e s ^

\

v

-

" M. (Currency p l u s demand d e p o s i t s )
M_ (M. p l u s time d e p o s i t s a t commercial banks
o t h e r t h a n l a r g e time CD'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

36.39
34.77
36.17
34.15

36.63
34.83
36.39
34.17

Week ended
May 8
I May 1
($ B
275.4

276.8

587.4
588.7
473.7
476.4
389.9
391.4
4/4
5.3
Week ended
May 15 | May 8

Other Reserve 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 ($o m i l . )
Includes seasonal borrowings o f :
F e d e r a l funds r a t e
3-month T r e a s u r y b i l l r a t e
90-119 day d e a l e r p l a c e d commercial paper 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 ) j>/
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/

36.45
34.58
36.25
34.09

94
11.,46
8.,15
11.,00
11,,34
11,.74
8,.12

i

82
11.,29
8.,78
10.,98
11.,24
11:.43
8..18

35.35
33.80
35.16
33.32

4 Wks. ended
I A p r i l 10
276.8

11.8
3.3
11.2
17.6

from 4 Week Averages
52 weeks p r e v i o u s
9.3
9.3
9.4
10.7

11.4
9.7
11.7
10.6

Average of 4 Weeks Ended May 8 ,
13 weeks p r e v i o u s
| 26 weeks p r e v i o u s

|

from 4 Week Averages
52 weeks p r e v i o u s

275.2

588.4
585.1
473.7
463.6
389.0
380.2
4.7
4.4
4 Wks. ended
May 15 | A p r i l 17~
(NSA)
1922
76
11.,18
:
8.,39
10.,67
10.,99
11.,25
8.,12

Average of 4 Weeks Ended May 15. 1974
13 weeks p r e v i o u s
I 26 weeks p r e v i o u s

9.6
17.0
19.3

,9.1
12.1
16.5

9.0
10.7
14.8

45
^ 9.,98
8.,34
9.,50
.9.,77
10.,07
7.,92

N5A--Not S e a s o n a l l y A d j u s t e d .
SA--Seasonally \ d j u s t e d .
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 a n d ^ 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 t i m e 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 changes i n R e g u l a t i o n D. P e r 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 b e e n a d j u s t e d
t o remove t h e e f f e c t of t h e s e s t r u c t u r a l c h a n g e s .
'
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 , 1972; $279 m i l l i o n
f r o m December 28, 1972 t o March 28, 1973; $172 m i l l i o n from March 29, 1973 t o J u k e 2 7 , 1973; $112 m i l l i o n from J u n e - 2 ^ , 1973 t o September 26, 1973; $84 m i l l i o n from September 2 7 , 1973 t o December 26, 1973; $67 m i l l i o n f r o m December 27, 1973 t o March 27, 1974; and $58 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 .
4 / On May 8 , 1974, b a n k - r e l a t e d commercial p a p e r amounted t o $ 7 , 0 0 1 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 t h r e e 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. T r e a s u r y .
'8
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 , n o t compounded.




7

3 .