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I FEDERAL RESERVE statistical release [[[[ '•^LRES^-* H.9(511) For Release at 4:10 p.m. EST M A I 2 1 , 1982 WEEKLY SUMMARY OF BANKING AND CREDIT MEASURES Averages of daily figures Levels Week ended MAI 19P Percent change Average of 4 weeks ended MAI 1 9 , 1982P 4 weeks ended M A I 12P MAI 19P ABB 21P Millions of dollars, seasonally adjusted Reserve aggregates (adjusted)1 Total reserves2 Nonborrowed reserves Nonborrowed reserves plus extended credit 3 Required reserves Monetary base4 40,968 39,848 40,040 40,688 170,082 41,342 40,379 40,558 40,953 171,111 Week ended MAT 12P 41,373 40,022 40,225 41,021 170,577 41,078 39,547 39,818 40,771 169,230 5P MAI 12? APR 14P Billions of dollars, seasonally adjusted M1 Sum of currency, travelers checks, demand deposits, and other checkable deposits. 450.2 452.5 7.1 5.5 5.0 7.0 8.1 4.3 6.5 7.1 3.9 5.7 449.9 M A I 1 2 , 1S82P from 4 weeks averages 13 weeks 26 weeks 52 weeks previous previous previous Seasonally adjusted annual rates 3.1 8.0 4.4 4 weeks ended Week ended M A I 19 451.6 1.0 7.4 7.2 0.S 5.9 Average of 4 weeks ended 4 weeks ended HAT from 4 weeks averages 26 weeks 52 weeks previous previous Seasonally adjusted annual rates 13 weeks previous MAI 12 MAI 19 APR 2 1 Not seasonally adjusted Other reserve measures and Interest rates Discount window borrowing ($ mil.) Includes: seasonal borrowings of extended credit of Federal funds rate 3-month Treasury bill rate 90 day dealer placed commercial paper5 3-month CD rate (secondary market) 3-month Eurodollar rate U.S. Government bond rate6 1 963 232 179 14. 12. 13. 13. 14. 13. 67 27 49 92 58 46 1120 218 192 14. 97 1 2 ., 3 2 13. 51 1 3 ., 8 2 1 4 . .43 1 3 ., 3 3 1352 208 203 1 4 ., 9 7 1 2 ., 4 0 13. 67 14. ,06 14. 69 1 3 . ,44 1531 170 271 14. 12. 14. 14. 15. 13. 96 93 17 56 32 70 RESERVE AGGREGATES INCLUDE REQUIRED RESERVES OF MEMBER BANKS AND EDGE ACT CORPORATIONS AND OTHER DEPOSITOR! INSTITUTIONS. D I S C O N T I N U I T I E S ASSOCIATED K I T H THE IMPLEMENTATION OF THE MONETAEI CONTROL ACT, THE INCLUSION OF EDGE ACT CORPORATION RESERVES, AND OTHER CHANGES I N REGULATION D HAVE BEEN REMOVED. BEGINNING WITH THE WEEK ENDED DECEMBER 3 1 , 1981 RESERVES AGGREGATES HAVE BEEN REDUCED BT S H I F T S OF BESERVABLE L I A B I L I T I E S TO I N T E R N A T I O N A L BANKING F A C I L I T I E S ( I B F S ) . 2 RESERVE BALANCES WITH FEDERAL RESERVE BANKS (WHICH EXCLUDE REQUIRED CLEARING BALANCES) PLUS VAULT CASH A-T I N S T I T U T I O N S WITH REQUIRED RESERVE BALANCES PLUS VAULT CASH EQUAL TO REQUIRED RESERVES A3? OTHER INSTITUTIONS. 3 EXTENDED CREDIT CONSISTS OF BORROWING AT THE DISCOUNT WINDOW UNDER THE TERMS AND CONDITIONS ESTABLISHED FOR THE EXTENDED CREDIT PROGRAM TO HELP DEPOSITOR! I N S T I T U T I O N S DEAL WITH SUSTAINED L I Q U l D I T I PRESSURES. BECAUSE THERE I S NOT THE SAME NEED TO REPAT SUCH BORROWING PROMPTLI AS THERE I S WITH TRADITIONAL SHORTTERM ADJUSTMENT C R E D I T , THE MONEI MARKET IMPACT OF EXTENDED CREDIT I S S I M I L A R TO THAT OF NONBORROWED RESERVES. 4 INCLUDES RESERVE BALANCES AND REQUIRED CLEAR IMG BALANCES AT FEDERAL RESERVE BANKS I N THE CURRENT WEEK PLUS VAULT CASH HELD TWO WEEKS EARLIER USED TO S A T I S F I RESERVE REQUIREMENTS AT ALL DEPOSITOR! I N S T I T U TIONS PLUS CURRENCT OUTSIDE THE U . S . T REASU R I, FEDERAL RESERVE BANKS, THE VAULTS OF DEPOSITOR! I N S T I T U T I O N S , AND SURPLUS VAULT CASH AT DEPOSITOR! I N S T I T U T I O N S . 5 ON M A I 1 2 , 1 9 8 2 BANK-RELATED COMMERCIAL PAPER OUTSTANDING WAS $ 3 7 , 9 4 5 M I L L I O N . 6 YIELD AT 2 0 - I E A R CONSTANT MATURITY. SOURCE. U . S . TREASURI. NOTE: ALL PERCENTAGE CHANGES ARE AT SEASONALLI ADJUSTED ANNUAL RATES, NOT COMPOUNDED. P — I N D I C A T E S P R E L I M I N A R I DATA. S P E C I A L CAUTION SHOULD BE TAKEN I N INTERPRETING WEEK-TOWEEK CHANGES I N MONET S U P P L I DATA, WHICH ARB OFTEN H I G H L I V O L A T I L E AND SUBJECT TO R E V I S I O N I N SUBSEQUENT WEEKS AND MONTHS.
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