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CO* GOV,'-.

FEDERAL

R E S E R V E

4 Weeks ended
Week ended
Oct. 19 | Sept. 21
Oct. 19 |0ct. 12
7 T Bil., SA)

Reserve Aggregates^

36.41
34.55
36.32

Total reserves
Nonborrowed reserves
Required reserves

35.26
34.21
35.02

35.87
34.75
35.63

35.63
34.86
35.40

4 Weeks ended
Week ended
Oct. 5
Oct. 12 |Sept. 14
Oct. 12
C$ Bil., SA)

Monetary Aggregates

%

(Currency plus demand deposits)
(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

Other Reserve Measures & Interest Rates
Member bank borrowings ($ mil.)
Includes seasonal borrowings of:
Federal funds rate
3-month Treasury bill rate
90-119 day dealer placed commercial paper 2/
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/

334.1

334.1

799.4
530.8
3.4

798.9
529.8
3.4

332.1

October 20, 1977

Per cent Change (Seasonally Adjusted Annual Rates)

Levels

1/

For Immediate Release

WEEKLY SUMMARY OF BANKING AND CREDIT MEASURES
(Averages of daily figures)

H.9
(Rev. 9/77)

NSA—not seasonally adjusted

statistical

329.8
791.0
524.2
3.6

796.1
528.3
3,8
4 Weeks ended
Week ended
Oct. 19 |Oct. 12
Oct. 19 [Sept. 21
(NSA)
1861
776
1051
1128
112
116
112
114
6.04
6.41
6.50
6.42
5,70
6.22
6.27
6.10
5.99
6.43
6.59
6.39
6 , 07
6.58
6.80
6.55
5,94
6.63
6.63
6.46
6 , 41
7.19
7.30
7.06
7.54
7.68
7.73
7.66

Average of
ui 4
«• weeks
wccuaended
euueuOctober 19, 1977 from 4-tweek
w^b.averages
13 weeks previous [26 weeks previous
| 52 weeks previous

6.5
-3.0
6.9

7.6
1.3
7.5

5.6
2.5
5.5

Average of 4 weeEs ended October 12, 1977 from 4 weeks averages"
13 weeks previous
| 26 weeks previous |52 weeks previous
10.4
9.6
8.3

9.2
9.4
9.2

7.6
10.5
11.2

SA—seasonally adjusted

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.
2J On October 12, 1977
bank-related commercial paper amounted to 8518 million.
3/ Average of range of offering rates of negotiable certificates of deposit with 3-month maturity in secondary market.
4/ Posted ranges - the annual interest rates most often quoted on new offerings of negotiable certificates of deposit in denominations of $100,000 or more.
5/ Yield at 20-year constant maturity. Source: U.S. Treasury
NOTE: All percentage changes are at seasonally adjusted annual rates, not compounded.