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FEDERAL RESERVE statistical release For Immediate Release October 17, 1980 H.9 (511) WEEKLY S U M M A R Y OF B A N K I N G A N D C R E D I T MEASURES Averages; <of daily figures Levels Week ended Oct. 15 Oct. 8 4 weeks ended Oct. 15 Sept. 17 Millions of dollars, seasonally adjusted Reserve aggregates 1 Total reserves Nonborrowed reserves Required reserves Monetary base2 41,427 40,320 41,107 160,093 41,531. 40,283 41,137 160,079 41,668 40,203 41,381 160,214 41,225 40,261 40,944 158,989 Reserve aggregates (adjusted) 3 Total reserves Nonborrowed reserves Required reserves Monetary base 2 41,402 40,295 41,082 160,068 41,505 40,257 41,111 160,052 41,642 40,178 41,356 160,188 41,194 40,231 40,914 158,959 Week ended 4 weeks ended Sept. 10p Oct. Sp Oct. 8p Oct. lp Billions of dollars, seasonally adjusted Monetary aggregates M-1A (Currency plus demand deposits) M-1B (M-1 A plus other checkable deposits) 385. 409. 381.7 404.6 384.1 407.4 381.1 403.5 Percent change Average of 4 weeks ended October 15, 1980 from 4 weeks averages 52 weeks 26 weeks 13 weeks previous previous previous Seasonally adjusted annual rates 6.6 8.1 14,.0 6.1 2,.5 13.6 6.5 7.6 14,.5 8.2 11,.6 9.6 Average of 4 weeks ended October 8, 1980 f r o m 4 weeks averages 52 weeks 26 weeks 13 weeks previous previous previous Seasonally adjusted annual rates 13.1 15.7 6.4 8.7 4.9 6.5 4 weeks ended Week ended Oct. Oct. 15 Oct. 15 I Sept. 17 Not seasonally adjusted Other reserve measures and interest rates Member bank sorrowings ($ mil.) Includes seasonal borrowings of: Federal funds rate 3-month Treasury bill rate 90 day dealer placed commercial paper4 3-month CD rate (secondary market) 3-month Eurodollar rate U.S. Government bond rate5 1 110 7 61 12.64 11.12 12.25 12.49 13.00 11.35 1248 48 12.59 11.34 1465 45 12.12 10.94 12.18 11.88 12.52 13.03 11.55 12.15 12.83 11.59 964 16 10.34 10.00 10.51 10.86 10.70 11.30 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. Effective July 24, 1980 the 5 percent marginal reserve requirement on managed liabilities and the 2 percent supplementary reserve requirement against large time deposits was removed. These actions reduced required reserves about $3.2 billion. 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 Reserves banks and the vaults of commercial banks; and vault cash of nonmember banks. 3 Reserve aggregates series have been adjusted to remove discontinuities associated with marginal reserve requirements and changes in other reserve requirement regulations. 4 On October 8, 1980 bank-related commercial paper outstanding was $22,982 million. 5 Yield at 20-year constant maturity. Source: U.S. Treasury. NOTE: All percentage changes are at seasonally adjusted annual rates, not compounded. p—Indicates preliminary data. Special caution should be taken in interpreting week-to-week changes in money supply data, which are often highly volatile and subject to revision in subsequent weeks and months.
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