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F E D E R A L

R E S E R V E

statistical

release
For Immediate Release

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

October 5, 1978

H.9
(Rev. 9/77)
Per cent Change (Seasonally Adjusted Annual Rates)

Levels
4 Weeks ended
Week ended
Oct. 4
I Sept. 27 I Oct. 4
| Sept7~6
($ Bil.\ SA)

Average of 4 weeks ended October 4, 1978 from 4 week averages
13 weeks previous
126 weeks previous
| 52 weeks previous

Reserve Aggregates^
38.80
37.51
38.53

Total reserves
Nonborrowed reserves
Required reserves

38.27
37.20
38.06

38.02
36.83
37.80

4 Weeks ended
Week ended
Sept. 27 | Sept. 20 Sept. 271 Aug. 30
($ 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 CI) 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

38.46
36.90
38.23

2.0
3.8
3.1

8.2
4.1
8.3

7.4
6.4
7.6

Average of 4 weeks ended September 27 ,197tfrom 4 waeks averages
13 weeks previous
| 26 weeks previous |52 weeks previous

361.8

361.1

361.2

356.8

9.3

10.7

8.4

864.2
589.8
4.5

862.7
590.7
4.9

862.5
589.4
3.7

853.8
583.2
3.3

10.3
10.4

9.7
9.8

8.5
12.1

4 Weeks ended
Week ended
Sept. 6
Sept. 27 Oct. 4
Oct. 4
(NSA)
1285
213
8.85
8.03
8.64
8.95
8.75
9.58
8.64

1559
205
8.62
8.04
8.52
8.83
8.65
9.41
8.59

1069
195
8.54
7.92
8.48
8.71
8.57
9.23
8.51

1188
194
8.15
7.29
7.90
8.15
7.94
8.62
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 September 27, 1978 bank-related commercial paper amounted to 13005 million.
Simple average of offering rates of negotiable certificates of deposit with 3-month maturity in secondary market.
Posted ranges • the nrni"*1 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