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FEDERAL RESERVE statistical release H.9 (511) For Immediate Release November 23, 1979 WEEKLY SUMMARY OF BANKING AND CREDIT MEASURES Averages of daily figures Levels Week ended 4 weeks ended Nov. 21 Nov. 14 Nov. 21 Oct. 24 Billions of dollars, seasonally adjusted Reserve aggregates 1 Total reserves Nonborrowed reserves Required reserves Monetary base 2 43,416 41,552 43,184 153,410 43,125 41,267 42,864 152,842 43,222 41,045 42,895 152,988 41,954 40,317 41,678 151,149 Reserve aggregates ( a d j u s t e d ) 3 Total reserves Nonborrowed reserves Required reserves Monetary base 2 43,071 41,207 42,839 153,065 42,315 40,457 42,054 152,032 42,803 40,626 42,476 152,570 42,274 40,637 41,998 151,468 Week ended Monetary aggregates M-1 (Currency plus demand deposits) M-2(M-1 plus time deposits at commercial banks other than large time CD's) Time deposits, all commercial banks Other reserve measures and interest rates Member bank borrowings ($ mil.) Includes seasonal borrowings of: Federal funds rale 3-month Treasury bill rate 90 — day dealer placed commercial paper 4 3-month CD rate (secondary market) 3-month Eurodollar rate U.S. Government bond rate 5 4 weeks ended Nov. 14P Nov. 7p Nov. 14p Oct. 17p Billions of dollars, seasonally adjusted 378.5 379.5 377.8 937.0 942.4 940.2 655.7 656.9 647.6 Week ended 4 weeks ended Nov. 21 1 Nov. 14 I Nov. 21 I Oct. 24 Not seasonally adjusted 1858 133 13,30 12.11 14*90 14.28 15.43 10.47 2177 156 13.95 12.07 14.02 14.34 15.48 10.47 9.2 3.0 6.3 -0.2 2.8 8.2 11.2 10.2 7.7 Average of 4 weeks ended Nov. 14, 1979 from 4 weeks averages 13 weeks 26 weeks 52 weeks previous previous previous Seasonal y adjusted annual rates 15.0 4.0 13.7 5.0 379.2 943.5 659.5 1865 151 13.10 11.87 13.58 14.06 15.16 10.45 Percent change Average of 4 weeks ended Nov. 21, 1979 from 4 weeks averages 26 weeks 52 weeks 13 weeks previous previous previous Seasonally adjusted annual rates 1637 158 13.07 11.42 7.1 4.8 15.9 :::ssr.:a::: m *12.81 13.25 14.13 9.80 1 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. Marginal required reserves averaged $ 346 million in the week ending November 21, 1979 and $ 811 million in the week ending November 14, 1979. 2 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 Reserve banks and the vaults of commercial banks; and vault cash of nonmember banks. 3 Reserve aggregates series have been adjusted to remove discontinuities associated yvith marginal reserve requirements and changes in other reserve requirement regulations. 4 On November 21,1979 bank-related commercial paper outstanding was $ 21,204 million. 5 Yield at 20-year constant maturity. Source: U.S. Treasury. BOTE: All percentage changes are at seasonally adjusted annual rates, not compounded. * Prior to November 1, 1979, this series reflects yields on 90-119 day commercial paper.