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-oql£gfr»y. FEDERAL R E S E R V E release For Immediate Release October 26, 1978 WEEKLY SUMMARY OF BANKING AND CREDIT MEASURES (Averages of daily figures) H.9 (Rev. 9/77) Per cent Change (Seasonally Adjusted Annual Rates) Levels Reserve Aggregate! statistical 4 Weeks ended Week ended Oct. 25 1 Oct. 18 Oct. 25 I Sept. 27 ($ Bil., SA) 1/ 38.18 36.87 37.86 Total reserves Nonborrowed reserves Required reserves 38.57 37.32 38.67 38.50 37.22 38.32 38.12 37.08 37.91 4 Weeks ended Week ended Oct. 18 | Oct. 11 Oct. 18 | Sept. 20 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/ Average of 4 weeks endedOctober 25, 1978 from 4 week averages | 52 weeks previous 13 weeks previous |26 weeks previous 2.3 2.6 2.6 8.6 3.8 8.4 7.5 7.9 7.7 Average of 4 weeks ended October 18, 1978from 4 waeks averages" 13 weeks previous | 26 weeks previous | 52 weeks previous 364.1 364.2 362.6 359.6 9.9 9.7 8.2 869.1 592.0 3.1 869.4 591.6 3.5 866.8 591.2 4.1 860.0 10.7 9.6 9.6 9.7 8.4 11.7 588.3 3.4 4 Weeks ended Week ended Oct. 25 | Oct. 18 Oct. 25 | Sept. 27 (NSA) 1314 236 9.24 7.67 9.09 9.64 9.40 10.31 8.70 1249 220 8.78 7.91 8.97 9.26 9.38 9.91 8.64 1272 220 8.90 7.95 8.88 9.25 9.17 9.89 8.65 1039 189 8.40 7.82 8.34 8.56 8.42 9.06 8.45 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. On October 18, 1978 bank-related commercial paper amounted to 13499 million. Simple average 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.