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FEDERAL RESERVE \H.9 MRev, 4 / 7 2 ) statistical ' WEEKLY SUMMARY OF BANKING AND CREDIT MEASURES (Averages of d a i l y f i g u r e s ) ,, r e-f e a s e 7 Jt\. For Immediate Release September 11, 1975 • Percent Change ( S e a s o n a l l y AdiumrpH Annual Reserve A g g r e g a t e s 1/ " "— S e p t . 10 Total reserves Nonborrowed r e s e r v e s Required r e s e r v e s R e s e r v e s A v a i l a b l e t o Support P v t . Nonbank D e p o s i t s Monetary M1 (Currency plus demand d e p o s i t s ) *2 P*i p 1 ^ * t t m e d e p o s i t s a t commercial banks other than large time CD.'s) Adjusted c r e d i t proxy U Time d e p o s i t s , a l l commercial banks U.S. government demand d e p o s i t s , member baqks Other Reserve Measures & I n t e r e s t Rates 34.29 33.96 34.30 32.60 1 S e n t . 3 1 S e p t . 10 I Aug.. 13 ($ B i l . SA) 34.61 34.53 34.76 34.27 34.39 34.52 34.32 34.2$ 34.59 32.77 32.85 32.80 Week ended S e p t . 3 I Aug 296.3 297.0 656.7 504.0 436.7 3.1 Week ended 4 Wks. ended I Aug. 295.6 294.8 655.5 503.5 437.6 3.0 4 Wks. ended Average of 4-Weeks Ended S e p t . 10. 1975 from 4 Week Averages 13, weeks previous | 26 weeks previous I 52 weeks p r e v i o u s 1.4 -0.6 0.5 -0.2 -1.7 2.4 -1.5 -1.7 Average of 4 Weeks Ended S e p t . 3. 1975 13 weeks p r e v i o u s | 26 weeks p r e v i o u s 6.6 -1.4 8.7 -1.5 -1.1 I from 4 Week Averages 52 weeks previous 5.3 9.9 0.6 3.4 10 1 Sec Member bank borrowings ($ m i l . ) Includes seasonal borrowings o f : F e d e r a l funds r a t e 3-month T r e a s u r y b i l l r a t e 90-119 day d e a l e r placed commercial paper r a t e —/ 3-month CD r a t e (secondary market) z J 3-month E u r o - d o l l a r r a t e U.S. Government bond r a t e 1/ N5A--Not S e a s o n a l l y A d j u s t e d . 1/ SA--Seasoi l l y Adjusted . I n c l u d e s r e q u i r e d r e s e r v e s a g a i n s t E u r o - d o l l a r borrowings and b a n k - r e l a t e d commercial p a p e r . Reserves A v a i l a b l e t o Support P r i v a t e Nonbank D e p o s i t s , a r e r e q u i r e d r e s e r v e s f o r p r i v a t e demand d e p o s i t s , t o t a l time and s a v i n g s d e p o s i t s , n o n d e p o s i t s o u r c e s s u b j e c t t o r e s e r v e r e q u i r e m e n t s and e x c e s s reserves. s e r v e a g g r e g a t e s r e f l e c t changes in R e g u l a t i o n D. Per cent a n n u a l r a t e s of growth f o r r e q u i r e d r e s e r v e s and o t h e r r e s e r v e a g g r e g a t e s have been a d j u s t e d to remove t h e e f f e c t of t h e s e s t r u c t u r a l changes. I n c l u d e s member bank d e p o s i t s , l o a n s sold t o b a n k - r e l a t e d i n s t i t u t i o n s , E u r o - d o l l a r borrowings of U.S. banks, and c e r t a i n n o n d e p o s i t i t e m s . On September 3, 1975 b a n k - r e l a t e d commercial paper amounted t o $8,682 m i l l i o n . Average of range of o f f e r i n g r a t e s of n e g o t i a b l e c e r t i f i c a t e s of d e p o s i t w i t h t h r e e month m a t u r i t y i n secondary m a r k e t . Daily a v e r a g e y i e l d oq 2 0 - y e a r bonds. Source: U.S. T r e a s u r y . E: A l l p e r c e n t a g e changes a r e a t s e a s o n a l l y a d j u s t e d a n n u a l r a t e s , n o t compounded.