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F E D E R A L

Reserve Aggregates^
Total reserves
Nonborrowed reserves
Required reserves

release

For Immediate Release

Per cent Change (Seasonally Adjusted Annual Rates)

4 Weeks ended
Week ended
Oct. 5 ; Sept. 23 Oct. 5
i Sept. 7
($ Bil., SA)

Average of 4 weeks ended October 5, 1977 from 4 week averages
13 weeks previous 126 weeks previous
[ 52 weeks previous

35.75
35.03
35.31

35.84
35.17
35.54

35.55
34.43
35.34

4 Weeks ended
Week ended
Sept. 28 | Sept. 21 Sept.28 |Aug. 31
C$ Bil., SA)

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(Currency plus demand deposits)
Plus time deposits at commercial banks
other than large time CD's)
Time deposits, all commercial banks
U.S. Government demand deposits, member banks
2

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 27
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/

October 6, 1977

Levels

36.27
35.39
35.86

Monetary Aggregates

U

statistical

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

H.9
(Rev. 9/77)

NSA—not seasonally adjusted

R E S E R V E

7.9
3.4
7.3

8.3
5.1
7.8

5.8
4.1
5.6

Average of 4 weeks ended Sept. 28, 1977 from 4 waeks averages
26 weeks previous | 52 weeks previous
13 weeks previous

329.4

330.6

330.4

328.2

10.7

9.6

7.7

792.6
526.9
3.0

793,2
525.5
5.5

792.9
525.6
3.7

787.8
522.9
3.7

10.4
8.3

9.8
9.0

10.7
11.2

4 Weeks ended
Week ended
Oct. 5
Sept. 7
Sept. 281 Oct. 5
(NSA)
1149
883
719
669
115
116
113
117
5.98
6.35
6.23
6.41
5.56
5.90
5.93
5.98
5.86
6.22
6.18
6.31
5.98
6.37
6.28
6.43
5.87
6.29
6.15
6.30
6.35
6.78
6.71
6.98
7.59
7.61
7.59
7.62

SA—seasonally adjusted

Includes required reserves against Eurodollar borrowings and bank-irelated 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 28, 1977bank-related commercial paper amounted to 8.915 million.
Average of range 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.

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