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FEDERAL RESERVE statistical release H.9 (511) For immediate release November 14, 1980 WEEKLY SUMMARY OF BANKING AND CREDIT MEASURES Averages of daily figures Levels Week ended Nov. 12 4 weeks ended Nov. 5 Nov. 12 Oct. 15 Millions of dollars, seasonally adjusted Reserve aggregates 1 Total reserves Nonborrowed reserves Required reserves Monetary base2 Reserve aggregates (adjusted) 3 Total reserves Nonborrowed reserves Required reserves Monetary base 2 42,596 40,529 42",022 n.a. 42,669 40,791 42,102 162,173 42,271 40,624 41,949 n.a. 41,641 40,177 41,381 160,300 42,572 40,505 41,998 n.a. 42,646 40,768 42,079 162,150 42,247 40,600 41,925 n.a. 41,615 40,151 41,356 160.274 Week ended Monetary aggregates M-1A (Currency plus demand deposits) M-1B (M-1 A 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 * 3-month CD rate (secondary market) 3-month Eurodollar rate U.S. Government bond rate5 4 weeks ended Nov. 5 Oct. 29p Nov. 5 Oct. l p Billions of dollars, seasonally adjusted n.a. n.a. 386.5 410.5 206 7 96 14.65 13.30 14.80 15.17 16.39 12.61 1878 72 13.99 12.96 13.81 14.43 15.41 12.42 n.a. n.a. 383.6 406.9 Week ended 4 weeks ended Nov. 12 | Nov. 5 I Nov. 12 I Oct. 15 Not seasonally adjusted 1647 81 13.59 12.46 13.45 13.95 14.87 12.20 Percent change Average of 4 weeks ended November 12, 1980 from 4 weeks averages 13 weeks 26 weeks 52 weeks previous previous previous Seasonally adjusted annual rates 20.5 9.7 2G.0 10.3 12.1 7.2 9.9 7.2 9.7 n.a. n.a. Average of 4 weeks ended October 29, 1980 from 4 weeks averages 13 weeks 26 weeks 52 weeks previous previous previous Seasonal y adjusted annual rates 14.6 17.0 10.8 13.0 5.6 7.4 1465 45 12.12 10.94 11.88 12.15 12.83 11.59 Includes required reserves against deposits at member banks and Edge Act corporations; against bank related commercial paper; and marginal reserves against selected borrowings of member banks, Edge Act corporations and agencies and branches of foreign banks. Effective July 24, 1980 the 5 percent marginal reserve requirement on managed liabilities arid the 2 percent supplementary reserve requirement against large time deposits was removed. These actions reduced required reserves about $3.2 billion. Includes total reserves (reserve balances of member banks, Edge Act corporations and agencies and branches of foreign banks in the current week and vault cash held two weeks earlier); currency outside the U.S. Treasury, Federal Reserves banks and the vaults of commercial banks; and vault cash of nonmember banks. Reserve aggregates series have been adjusted to remove discontinuities associated with marginal reserve requirements and changes in other reserve requirement regulations. On November 5, 1980 bank-related commercial paper outstanding was $24,513 million. Yield at 20-year constant maturity. Source: U.S. Treasury. NOTE: All percentage changes are at seasonally adjusted annual rates, not compounded. P—Indicates preliminary data. Special caution should be taken in interpreting week-to-week changes in money supply data, which are often highly volatile and subject to revision in subsequent weeks and months, n.a.-Not available. c
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