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F E D E R A L R E S E R V E s t a t i s t i c a l r e l e a s e WEEKLY SUMMARY OF BANKING AND CREDIT MEASURES (Averages of d a i l y f i g u r e s ) For Immediate Release' October 11, 1973 Percent Chance (Seasonally ttnn„.ii,paL,r Week ended 4 Wks . ended W p e t . 3 | O c t . 10 1 Si^FTTT O c t . 1U ($ B i l . , SA) Total reserves 34.75 34.63 34.45 33.95 Nonborrowed r e s e r v e s 33.30 33.21 32.90 32.17 Required r e s e r v e s 34.41 34.25 34.21 33.80 Reserves Available to Support Pvt. Nonbank Deposits 32.70 32.66 32.48 32.12 4 Wks . ended 3 I Sept .261 O c t . 3 1 S ept. Monetary Aggregates ($ B i l . , SA) Mj (Currency plus demand d e p o s i t s ) 264.6 261.8 263.5 264.0 (M^ plus time d e p o s i t s a t commercial banks other than large time CD's) 554.6 5 5 0 . 9 5 5 2 . 3 551.2 Adjusted c r e d i t proxy 2 / 444.8 446.5 447.8 Time d e p o s i t s , a l l commercial banks 356.0 355.7 U.S. Government demand deposits,-member banks 5.1 5,4 Reserve Aggregates l/gy Other Reserve Measures & I n t e r e s t Rates Member bank borrowings ($ m i l . ) I n c l u d e s seasonal borrowings of: Federal funds r a t e 3-month Treasury b i l l r a t e 90-119 day dealer placed commercial paper r a t e 4/ 3-month CD r a t e (secondary market) 5/ 3-month Euro-dollar r a t e U.S. Government bond r a t e 6/ NSA--Not S e a s o n a l l y A d j u s t e d O c t . 10 I O c t . 3 7.9 8.2 7.3 15. 1 7.8 8.0 11.3 12.0 Average of 4 Weeks Ended O c t . 3 . 1973 13 weeks previous | 26 weeks previous -0.2 4.8 10.0 13.0 5.2 7.2 11.0 14.1 4 W e e k Averages 52 weeks previous from I 9.3 6.3 9.3 11.4 "from 4 Week Averages | 52 weeks previous 5.3 7.7 12.9 17.7 I O c t . 101 S e p t ; 12 (NSA) 1355 1519 131 144 9.,87 ' 10,.72 7,.22 7.,30 . 9.,53 .9,.63 9.,70 9,.63 10,,65 10,.38 7.,12 7 .12 ; Average of 4 Weeks Ended O c t . 10,1973 13 weeks previous | 26 weeks previous 1692 2136 165 141 10.56 10.71 7.69 8.76 9.94 10.42 10.87 10.17 10.81 11.46 7.20 7.40 SA—Seasonally A d j u s t e d .1/ I n c l u d e s r e q u i r e d r e s e r v e s a g a i n s t E u r o - d o l l a r borrowings and b a n k - r e l a t e d commercial p a p e r . R e s e r v e s A v a i l a b l e t o Support P r i v a t e Nonbank Dep o s i t s a r e r e q u i r e d r e s e r v e s f o r p r i v a t e demand d e p o s i t s , t o t a l time and s a v i n g s d e p o s i t s , n o n d e p o s i t s o u r c e s s u b j e c t t o r e s e r v e r e q u i r e m e n t s and e x c e s s r e s e r v e s . R e s e r v e a g g r e g a t e s r e f l e c t t h e change i n R e g u l a t i o n D e f f e c t i v e November 9, 1972, which reduced r e q u i r e d r e s e r v e s by about $3.2 b i l l i o n ; and e f f e c t i v e J u l y 19, 1973, which i n c r e a s e d r e q u i r e d r e s e r v e s by about $760 m i l l i o n ; and e f f e c t i v e October 4 , 1973, which i n c r e a s e d r e q u i r e d r e s e r v e s $465 m i l l i o n . E f f e c t i v e J u l y 12, 1973, 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 on i n e l i g i b l e a c c e p t a n c e s i n c r e a s e d r e q u i r e d r e s e r v e s by about $90 m i l l i o n . Per c e n t annual r a t e s of growth f o r r e q u i r e d r e s e r v e s and o t h e r r e s e r v e a g g r e g a t e s have been a d j u s t e d t o remove t h e e f f e c t of t h e s e s t r u c t u r a l changes. bank adaptation to . ' R e g u l a t i o n J . 2 / A d j u s t e d t o i n c l u d e c e r t a i n r e s e r v e def i c i e n c e s on which p e n a l t i e s can be waived f o r a t r a n s i t i o n p e r i o d i n c o n n e c t i o n a s amended e f f e c t i v e November 9 , 1972. The a d j u s t m e n t amounted t o $450 m i l l i o n from November 9 t o December 2 7 , 1972; $279 m i l l i o n from December 2 8 , 1972 t o March 2 8 , 1973; $172 m i l l i o n from March 2 9 , 1973 t o J u n e 27, 1973; $112 m i l l i o n from J u n e 28, 1973 t o September 2 6 , 1973; aed $84 m i l l i o n t thereafter. I n c l u d e s member bank d e p o s i t s , b a n k - r e l a t e d commercial p a p e r , E u r o d o l l a r borrowings of U . S . b a n k s , and c e r t a i n n o n d e p o s i t i t e m s . On O c t o b e r 3 , b a n k - r e l a t e d commercial p a p e r amounted t o $5041 m i l l i o n . of r a n g e of o f f e r i n g r a t e s of n e g o t i a b l e c e r t i f i c a t e s of d e p o s i t w i t h 3-month m a t u r i t y i n second m a r k e t . Digitized forAverage FRASER D a i l y a v e r a g e y i e l d on 2 0 - y e a r b o n d s . S o u r c e : U . S . T r e a s u r y . http://fraser.stlouisfed.org/ NOTE: A l l p e r c e n t a g e changes a r e a t s e a s o n a l l y a d j u s t e d a n n u a l r a t e s , not compounded. Federal Reserve Bank of St. Louis
@FedFRASER