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Ra^M/KLh iXJonaaju FEDERAL RESERVE statistical release f*AL Rt> . • For immediate release October 31, 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. 29 Oct. 22 4 weeks ended Oct. 29 Oct. 1 Millions of dollars, seasonally adjusted Reserve aggregates 1 Total reserves Nonborrowed reserves Required reserves Monetary base2 41,945 40,505 41,857 161,646 41,881 40,678 41,813 161,269 41,669 40,420 41,479 160,858 41,551 40,223 41,307 159,667 Reserve aggregates (adjusted) 3 Total reserves Nonborrowed reserves Required reserves Monetary base 2 41,921 40,481 41,833 161,621 41,856 40,653 41,788 161,244 41,644 40,395 41,454 160,833 41,523 40,195 41,279 159,639 Week ended O c t . 22p O c t . 15p 4 weeks ended O c t . 22p S e p t . 24p Billions of dollars, seasonally adjusted Monetary aggregates M-1A (Currency plus demand deposits) M-1B (M-1 A plus other checkable deposits) 387.2 411.2 387.7 411.6 385.7 409.4 383.7 406.8 Percent change Average of 4 weeks ended October 29, 1980 f r o m 4 weeks averages 13 weeks I 26 weeks 52 weeks previous | previous previous Seasonally adjusted annual rates 5.9 7.7 14.9 8.6 14.7 6.3 6.2 7.7 15.8 8.2 10.1 12.0 Average of 4 weeks ended O c t o b e r 2 2 , 1980 f r o m 4 weeks averages 52 weeks 26 weeks 13 weeks previous previous previous Seasonal y adjusted annual rates 13.8 16.3 8.8 10.8 5.2 6.9 4 weeks ended Oct. 1 Oct. 29 O c t , 22 Not seasonally adjusted Week ended Ort-. 29 Other reserve measures and interest rates Member bank borrowings ($ mil.) Includes seasonal borrowings of: Federal funds rate 3-month Treasury bill rate 90 day dealer placed commercial p a p e r 4 3-month CD rate (secondary market) 3-month Eurodollar rate U.S. Government bond rate5 1440 87 13.17 12.17 12.92 13.51 14.31 12.10 1203 69 12.55 11.39 12.26 12.68 13.38 11.65 1250 66 12.74 11.51 12.40 12.80 13.43 11.66 1328 26 11.02 10.38 11.09 11.40 12.16 11.52 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 nomnember 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 22, 1980 bank-related commercial paper outstanding was $23,913 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. 1
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