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FEDERAL RESERVE statistical release H.9 (511) WEEKLY SUMMARY OF BANKING AND CREDIT MEASURES Averages of daily figures For immediate r e l e a s e May 8, 1981 Levels Week ended May 6 A p r i l 29 4 weeks ended May 6 April 8 Millions of dollars, seasonally adjusted Reserve aggregates 1 Total reserves 2 Nonborrowed reserves Required reserves Monetary base 3 41,192 38,721 40,717 162,913 40,781 38,503 40,676 163,192 40,585 38,896 40,419 162,627 40,075 39,072 39,774 161,297 Reserve aggregates (adjusted) 4 Total reserves Nonborrowed reserves Required reserves Monetary base 40,926 38,455 40,451 163,227 40,515 38,237 40,410 163,477 40,319 38,630 40,153 162,818 39,809 38,806 39,508 161,429 Week ended 4 weeks ended A p r i l 29p A p r i l 22p A p r i l 29p A p r i l l p Billions of dollars, seasonally adjusted Monetary aggregates M-1A (Currency plus demand deposits) M-1B (M-1A plus other checkable deposits) Other reserve measures and interest rates Member bank borrowings ($ mil.) Includes seasonal borrowings of: Federal funds rate 3-month Treasury bill rate 90 day dealer placed commercial p a p e r 5 3-month CD rate (secondary market) 3-month Eurodollar rate U.S. Government bond rate 6 364.6 364.7 365.8 422.6 429.4 432.2 4 weeks ended Week ended April 8 May 6 | A p r i l 29 May 6 Not seasonally adjusted 363.6 428.6 2471 198 18.91 15.73 16.84 17.44 18.39 14.10 2278 175 16.28 14.16 14.92 15.48 16.38 13.64 1689 168 16. 52 14. 29 15. 35 15.,92 16.,84 13..67 Percent change 7 Average of 4 weeks ended May 6 , 11981 from 4 weeks< 13 weeks I 26 weeks | 52 weeks previous | previous | previous Seasonally adjusted annual rates 2.1 -0.4 5.2 6.5 6.2(3.3) 7.2(5.7) 5.0(1.9) 9.1(7.5) 6.6(3.6) 7.4(5.9) 6.8(6.1) 8.6(8.2) Average of 4[ vweeks ended A p r i l 29, 1981 from 4 weeks averages 26 weeks I 52 weeks 13 weeks previous 1 previous previous Seasonal y adjusted annual rates -10.1 12.5 -11.2 9,6 -0.3 11.3 1003 194 14.49 12.94 13.46 13.92 14.75 12.96 Also i n c o n j u n c t i o n w i t h t h e Monetary C o n t r o l A c t , r e q u i r e d r e s e r v e s of c e r t a i n nonmember banks and f o r e i g n r e l a t e d i n s t i t u t i o n s i n c r e a s e d by a p p r o x i m a t e l y $245 m i l l i o n e f f e c t i v e F e b r u a r y 18, 1981 p u r s u a n t t o t h e t r a n s i t i o n a l p h a s e - i n program. . . . . , . , 1 Reserve b a l a n c e s w i t h F e d e r a l R e s e r v e Banks p l u s v a u l t c a s h a t i n s t i t u t i o n s w i t h r e q u i r e d r e s e r v e b a l a n c e s plus v a u l t cash equal t o required r e s e r v e s at other i n s t i t u t i o n s . . 2 4 Reserve ^ ^ n ^ t l ^ L ^ c t h e M o n e t a r y C o n t r o l A c t , m a r g i n a l r e s e r v e r e q u i r e m e n t s , t h e i n c l u s i o n s of Edge Act C o r p o r a t i o n R e s e r v e s , an o t h e r c h a n g e s i n R e g u l a t i o n s 0 and K. P r i o r t o t h e F e b r u a r y 18, 1981, r e s e r v e a g g r e g a t e s s e r i e s have been ::::: :r%r::ierh::'d::t:r:r::o:: 5 6 "Lerve r e q u i r e m e n t s u n d e r t h e MCA. On A p r i l 2 9 , 1981 b a n k - r e l a t e d commercial p a p e r o u t s t a n d i n g was $ 2 7 , 2 9 5 m i l l i o n . Yield a t 20-year constant maturity. Source: U.S. T r e a s u r y . s u p p l y d a t a h a s b e e n i d e n t i f i e d as a r e s u l t of t h i s t e c h n i c a l c h a n g e . i m i n a r y ^ a t a . ^ S p e c i a l ^ a u t i o n s h o u l d be t a k e n i n i n t e r p r e t i n g w e e k - t o - w e e k change s i n money s u p p l y d a t a , which a r e o f t e n h i g h l y v o l a t i l e and s u b i e c t t o r e v i s i o n i n s u b s e q u e n t weeks and months. p - - I n d i c a t e < ^ p r e l
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