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..•b^GOV'A- FEDERAL RESERVE statistical release f*4L For Release at 4:15 p.m. Eastern T H.9(511) October WEEKLY SUMMARY OF RESERVES AND INTEREST RATES Averages of daily figures Levels 4 weeks ended Week ended Oct Reserve aggregates (adjusted)1 Total reserves 2 Nonborrowed reserves Nonborrowed reserves plus extended credit 3 Required reserves Monetary base 4 Sept O c t 12P Oct 5P 12P Millions of dollars, seasonally adjusted 37,450 36,176 36,821 36,698 183,678 37,787 36,371 36,910 37,130 184,068 37,721 36,204 36,766 37,167 183,770 37,670 36,249 36,752 37,157 182,703 1983 Percent change Average of 4 weeks ended O c t o b e r 1 2 , 1983P from 4 weeks averages 52 weeks 26 weeks 13 weeks previous previous previous Seasonally adjusted annual rates 0.0 4. 1 0.0 2.4 3.8 3. 1 -1.4 7.0 1.2 8.1 7.4 5.0 6.3 7.0 9.3 4 weeks ended Week ended Oct 14P 14, Oct 12 12 Sept 14 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 paper 5 3-month CD rate (secondary market) 3-month Eurodollar rate U.S. Government bond rate 6 1 1274 139 645 9.46 8.69 8.97 9 . 18 9.50 11.69 1416 161 539 10.00 8.69 9.03 9.16 9.48 11.64 1517 173 562 9.50 8.80 9.08 9.25 9.58 11.71 1422 200 503 9.48 9 . 18 9.38 9.58 10.06 11.89 sibninininH:: R e s e r v e a g g r e g a t e s i n c l u d e r e q u i r e d r e s e r v e s of member b a n k s a n d E d g e A c t C o r p o r a t i o n s a n d o t h e r d e p o sitory institutions. D i s c o n t i n u i t i e s a s s o c i a t e d w i t h t h e i m p l e m e n t a t i o n of t h e M o n e t a r y C o n t r o l A c t , t h e i n c l u s i o n of E d g e A c t C o r p o r a t i o n r e s e r v e s , a n d o t h e r c h a n g e s i n R e g u l a t i o n D h a v e b e e n r e m o v e d . 2 Reserve b a l a n c e s w i t h F e d e r a l R e s e r v e Banks p l u s v a u l t c a s h a t i n s t i t u t i o n s w i t h r e q u i r e d r e s e r v e balances plus vault cash equal to required reserves at other i n s t i t u t i o n s . 3 E x t e n d e d c r e d i t c o n s i s t s of b o r r o w i n g a t t h e d i s c o u n t window u n d e r t h e t e r m s a n d c o n d i t i o n s e s t a b l i s h e s f o r the extended c r e d i t program to h e l p d e p o s i t o r y i n s t i t u t i o n s d e a l with s u s t a i n e d l i q u i d i t y p r e s s u r e Because t h e r e i s n o t t h e same need t o r e p a y s u c h b o r r o w i n g p r o m p t l y a s t h e r e i s with t r a d i t i o n a l s h o r t t e r m a d j u s t m e n t c r e d i t , t h e money m a r k e t i m p a c t o f e x t e n d e d c r e d i t i s s i m i l a r t o t h a t o f n o n b o r r o w e d reserves. 4 C o n s i s t s of r e s e r v e b a l a n c e s and s e r v i c e — r e l a t e d b a l a n c e s and a d j u s t m e n t s a t F e d e r a l R e s e r v e Banks i n t h e c u r r e n t week p l u s v a u l t c a s h h e l d two w e e k s e a r l i e r u s e d t o s a t i s f y r e s e r v e r e q u i r e m e n t s a t a l l d e p o s i t o r y i n s t i t u t i o n s p l u s c u r r e n c y o u t s i d e t h e U . S . T r e a s u r y , F e d e r a l R e s e r v e flanks, a n d t h e v a u l t s o± d e p o s i t o r y i n s t i t u t i o n s , p l u s s u r p l u s v a u l t c a s h a t d e p o s i t o r y i n s t i t u t i o n s . 5 On O c t o b e r 5 , 1983 b a n k - r e l a t e d c o m m e r c i a l p a p e r o u t s t a n d i n g w a s $ 3 6 , 4 1 3 m i l l i o n . Yield a t 20-year c o n s t a n t m a t u r i t y . Source: U.S. T r e a s u r y . Note: All 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. P—indicates preliminary data.
@FedFRASER