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/2lUL£asCA* F E D E R A L R E S E R V E For Immediate Release Reserve Aggregates^ Per cent Change (Seasonally Adjusted Annual Rates) Week ended 4 Weeks ended Sept. 14 I Sept. 7 Sept. 14 I Aug. 17 ($ Bil., SA) Average of 4 weeks endedseptember 14. 197lrom 4 week averages 13 weeks previous |26 weeks previous | 52 weeks previous 35.95 35.61 35.56 Monetary Aggregates Week ended 4 Weeks ended Sept. 7 I Aug. 31 Sept. 7 I Aug. 10 C$ Bil., SA) (Currency plus demand deposits) (M plils 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 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/ September 15, 1977 Levels Total reserves Nonborrowed reserves Required reserves IJ release WEEKLY SUMMARY OF BANKING AND CREDIT MEASURES (Averages of daily figures) H.9 (Rev. 9/77) NSA—not seasonally adjusted statistical 35.52 34.89 35.27 35.62 34.61 35.36 35.61 35.04 35.41 12.3 3.5 11.7 8.3 2.5 8.0 5.1 2.3 5.0 Average of 4 weeks endedseptember 7, 1977 from 4 weeks average 13 weeks previous | 26 weeks previous | 52 weeks previous 329.6 330.4 328.7 328.2 9.2 9.2 7.3 791.3 524.6 3.7 791.1 523.8 3.9 789.1 523.5 3.7 786.2 520.7 3.4 10.1 9.6 9.8 9.0 10.8 11.5 Week ended 4 Weeks ended Sept. 14 | Sept. 7 Sept. 14 | Aug. 17 (NSA) 337 1008 637 594 108 117 114 78 6.05 6.01 5.97 5.72 5.80 5.61 5.57 5.38 6.01 5.92 5.88 5.57 6.10 6.02 5.97 5.70 6.02 5.91 5.84 5.64 6.49 6.35 6.26 6.14 7.56 7.56 7.51 7.66 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 7, 1977 bank-related commercial paper amounted to $8021 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 Yielc. at 20-year constant maturity. Source: U.S. Treasury ' " NOTE! All percentage changes are at seasonally adjusted annual rates, not compounded. i
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