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(2JLojia.h_ a-Vv ^LJoKa^, F E D E R A L R E S E R V E statistical release I For Immediate Release October 12, 1977 WEEKLY SUMMARY OF BANKING AND CREDIT MEASURES (Averages of daily figures) H.9 (Rev. 9/77) Per cent Change (Seasonally Adjusted Annual Rates) Levels Average of 4 weeks ended October 12. 1977from 4 week averages Week ended 4 Weeks ended | 52 weeks previous Oct. 12 I Oct. 5 I Oct. 12 I Sept. 14 13 weeks previous |26 weeks previous ($ Bil., SA) Reserve Aggregates^ Total reserves Nonborrowed reserves Required reserves 35.25 34.19 35.02 36.28 35.40 35.86 35.67 34.82 35.40 35.60 34.59 35.36 4 Weeks ended Week ended Oct. 5 [Sept. 28 | Oct. 5 I Sept. 7 ($ Bil., SA) Monetary Aggregates 5.3 7.3 5.6 -1.5 3.1 3.3 5.0 7.2 5.4 Average of 4 weeks ended October 5, 1977 from 4 waeks averages 13 weeks previous | 26 weeks previous | 52 weeks previous"" M- (Currency plus demand deposits) M^ (M plus time deposits at commercial banks other than large time CD's) Time deposits, all commercial banks U.S. Government demand deposits, member banks 334.4 329.5 331.6 328.8 10.8 9.5 7.6 799.1 529.7 3.4 792.6 527.0 3.0 794.8 526.8 3.6 789.2 523.5 3.7 10.2 8.2 9.6 9.0 10.6 11.2 Other Reserve Measures & Interest Rates Week ended 4 Weeks ended Oct. 12 | Oct. 5 I Oct. 12 f Sept. 14 (NSA) Member bank borrowings ($ mil.) Includes seasonal borrowings of: Federal funds rate 3-month Treasury bill rate 90-119 day dealer placed commercial paper 2J 3-month CD rate (secondary market) 3/ 90-day CD rate (primary offering) 4/ 3-month Euro-dollar rate U.S. Government bond rate 5/ NSA- -not seasonally adjusted 1051 112 6.41 6.22 6.43 6.58 6.63 7.19 7.68 883 117 6.41 5.98 6.31 6.43 6.30 6.98 7.62 848 114 6.32 6.00 6.28 6.40 6.31 6.89 7.62 1149 115 5.98 5.56 5.86 5.98 5.87 6.35 7.59 SA—seasonally adjusted 1/ Includes required reserves against Eurodollar borrowings and bank-related commercial paper. Reserve aggregates reflect changes in Regulation D. Per cent annual rates of growth for required reserves and other reserve aggregates have been adjusted to remove the effect of these structural changes. On October 5, 1977 bank-related commercial paper amounted to 8861 million. Average of range of offering rates of negotiable certificates of deposit with 3-month maturity in secondary market. Posted ranges - the annual interest rates most often quoted on new offerings of negotiable certificates of deposit in denominations of $100,000 or more. Yield at 20-year constant maturity. Source: U.S. Treasury NOTE: All percentage changes are at seasonally adjusted annual rates, not compounded. i
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