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••.oSygte?',-. FEDERAL RESERVE statistical release .f^rfrs? For Release at 4:10 p.m. ^DT NOVEMBER 1 9 , 1982 H.9 (511) WEEKLY SUMMARY OF BANKING AND CREDIT MEASURES Averages of daily figures Average of 4 weeks ended 4 weeks ended Week ended HO? 17P Reserve aggregates (adjusted)1 40,771 Total reserves2 40,029 Nonborrowed reserves 3 4 0,217 Nonborrowed reserves plus extended credit 40,371 Required reserves 174,474 Monetary base4 OCT 20P HO? 17P NO? 10P Millions of dollars, seasonally adjusted 39,660 38,940 39,130 39,240 172,729 . 40,195 39,602 35,790 39,765 173,452 39,706 39,146 39,265 39,326 172,467 H0?BMBER 1 7 , 1982P from 4 weeks averages 52 weeks 26 weeks 13 weeks previous previous previous Seasonally adjusted annual rates 14.4 13.8 15.1 13.3 8.4 8.3 12.6 12.5 7.9 7.3 7.4 8.8 8.4 7.2 7.8 Average of 4 weeks ended 4 weeks ended Week ended HO? 10P M1 Sum of currency, travelers checks, demand deposits, and other checkable deposits. 473.1 OCT 13P HO? 10P HO? 3P Billions of dollars, seasonally adjusted 463.2 473.2 4 weeks ended Week ended HO? 17 HO?BMBBR 10, 1982P from 4 weeks averages 52 weeks 26 weeks 13 weeks previous previous previous Seasonally adjusted annual rates HO? 10 HO? 17 OCX 20 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 paper6 3-month CD rate (secondary market) 3-month Eurodollar rate U.S. Government bond rate* 1 9.45 8.72 9.93 10.62 9.73 10.54 593 66 188 9.48 7 . 98 8.80 9.07 9.86 10.71 560 93 119 10.01 7 . 60 9.65 9.97 10.95 11.20 RBSER?E AGGREGATES .INCLUDE REQUIRED RBSBR?BS OF MEMBER BANKS AND EDGE ACT CORPORATIOHS AND OTHEB DEPOSITORY INSTITUTIONS. DISCONTINUITIES ASSOCIATED HITH THE IMPLEMENTATION Of THE MONETARY CONTROL ACT, THE INCLUSION Of EDGE ACT CORPORATION RESEB?ES, AND OTHER CHANGES I N REGULATION D HA?E BEEN BEHOVED. BEGINNING HITH THE HBEK ENDED DECEMBER 3 1 , 1981 RESER?ES AGGREGATES HA?E BEEN REDUCED BY SHIFTS OF BESESVABLE L I A B I L I T I E S TO INTERNATIONAL BANKING F A C I L I T I E S ( I B f S ) . 2 RESERVE BALANCES HITH FEDERAL RESERVE BANKS (HHICH EXCLUDE REQUIRED CLEARIHG BALANCES) PLUS ?AULT CASH AT INSTITUTIONS WITH REQUIRED BBSEBVB BALANCES PLUS ?AULT CASH EQUAL TO REQUIRED RESBR?BS AT OJ?HBR INSTITUTIONS. 3 EXTENDED CREDIT CONSISTS Of BORROHING AT THE DISCOUNT HINDOH UNDER THE TERMS AHD COHDITIOHS ESTABLISHED fOR THE EXTENDBiD CREDIT PROGRAM TO HELP DEPOSITORY INSTITUTIONS DEAL HITH SUSTAINED L I Q U I D I T Y PRESSURES. BECAUSE THERE I S HOT THE SAME HEED TO REPAY SUCH BORROHIHG PROMPTLY AS THERE I S H U H TRADITIONAL SHORTTERM ADJUSTMENT CREDIT, THE MONEY MARKET IMPACT O f EXTENDED CREDIT I S SIMILAR TO THAT Of NONBORROWED RESER?ES. 4 INCLUDES RESER?E BALANCES AND REQUIRED CLEARING BALANCES AT fBDERAL RESBR?E BANKS I H THE CURRENT HBEK PLUS ?AULT CASH HELD TWO WEEKS EARLIER USED TO SATISFY BBSER?E REQUIREMENTS AT ALL DEPOSITORY I N S T I T U TIONS PLUS CURRENCY OUTSIDE THE U . S . TREASURY, FEDERAL RBSBR?B BAHKS, THE ?AULTS Of DEPOSITORY I N S T I T U TIONS, AND SURPLUS VAULT CASH AT DEPOSITORY INSTITUTIONS. 5 ON NOV. 1 0 , 1982 BANK—RELATED COMMERCIAL PAPER OUTSTANDING HAS $ 3 4 , 0 1 1 MILLIOH. 6 YIELD AT 20-YEAR CONSTANT MATURITY. SOURCE: U . S . TREASURY. NOTE: ALL PERCENTAGE CHANGES ARB AT SEASONALLY ADJUSTED ANHUAL RATES, HOT COMPOUNDED. P—INDICATES iPRELIMIHARY DATA. SPECIAL CAUTIOH SHOULD BE TAKBH I H IHTBBPRBTIHG WEBK-TO-HBBK CHANGES I N HONEY SUPPLY DATA, HHICH ARE OfTBH HIGHLY ?OLATILE AHD SUBJECT TO RBVISIOH I H SUBSBQUBHT HBEKS AHD MOHTHS.