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F E D E R A L

R E S E R V E

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release

For Immediate Release

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

H.9
(Rev. 9/77)

October 27, 1977

Per cent Change (Seasonally Adjusted Annual Rates)

Levels

Average of 4 weeks ended October 26, 1977from 4 week averages
Week ended
4 Weeks ended
52 weeks previous
Oct. 26 I Oct. 19
Oct. 26 I Sept. 28 13 weeks previous 126 weeks previous
($ Bil., SA)
Reserve Aggregates-^
35.64
34.20
35.49

Total reserves
Nonborrowed reserves
Required reserves

Monetary Aggregates

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/
NSA—not seasonally adjusted

35.91
34.60
35.67

35.58
34.97
35.39

Week ended
4 Weeks ended
Oct. 19 I Oct. 12 Oct. 19 I Sept. 21
C$ Bil., SA)

M- (Currency plus demand deposits)
MI (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

JV

36.45
34.59
36.32

5.8
7.5
7.4
2.2
0.3
-4.3
5.7
7.3
7.8
Average of 4~weeks endedQctober 19, 1977 from 4 waeks averages
13 weeks previous
| 26 weeks previous |52 weeks previous

333.3

334.4

332.9

330.6

9.2

8.9

7.7

798.9
531.8
4.0

799.9
531.0
3.4

797.7
529.9
3.5

792.5
524.8
3.9

8.9
8.8

9.3
9.7

10.4
11.3

Week ended
4 Weeks ended
Oct. 26 [Oct. 19
"""Oct. 26 [ Sept. 28
(NSA)
1861
1443
608
1310
112
116
114
112
6.50
6.49
6,.45
6.12
6.11
6.27
6 .15
5.79
6.59
6.57
6 .48
6.07
6.80
6.72
6 .63
6.17
6.63
6.57
6 .53
6.04
7.05
7.30
7 .13
6.53
7.73
7.73
7 .69
7.56

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.
2/ On October 19, 1977
bank-related commercial paper amounted to 8640 million.
3/ Average of range of offering rates of negotiable certificates at 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.