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m . Co? FEDERAL RESERVE statistical release H.9 (511) GQ W>* For Release at 4:15 p.m. Eastern Time Sept..16, WEEKLY SUMMARY OF RESERVES AND INTEREST RATES 1983 Averages of daily figures Levels Week ended Sept 14P Sept 4 weeks ended 7P Sept 14P Aug 17P Millions of dollars, seasonally adjusted Reserve aggregates (adjusted)1 Total reserves 2 Nonborrowed reserves Nonborrowed reserves plus extended credit 3 Required reserves Monetary base 4 37,194 36,046 36,547 36,840 182,708 37,974 36,727 37,216 37,176 183,102 37,677 36,255 36,759 37,149 182,635 37,731 36,308 36,775 37,287 181,713 Other reserve measures and Interest rates Discount window borrowing ($ mil.) Includes: seasonal borrowings of extended credit of Federal funds rate 3-month Treasury bill rate 90 day dealer placed commercial paper 5 3-month CD rate (secondary market) 3-month Eurodollar rate U.S. Government bond rate 6 14 1148 185 501 9.54 9 . 10 9.29 9. *3 9.91 11. 85 4.0 1.6 0. 1 3.5 6.6 6.3 2.3 3.3 5.8 8.4 8.0 6.5 7.6 7.8 9.3 -EnnHSHHS-Enn-H: Week ended Sept Percent change Average of 4 weeks ended S e p t e n b e r 1 4 , 1983P from 4 weeks avera pes 13 weeks 26 weeks 52 weeks previous previous previous Seasonally adjusted annual rates Sept 7 S e p t 14 Not seasonally adjusted 1247 192 489 9.53 9.19 9.45 9.65 10.14 12.04 1*22 200 503 9.48 9.18 9.38 9.58 10.06 11.89 Aug 17 1423 192 467 9.60 9. 33 9.53 9 . 76 10. 29 11.94 Reserve a g g r e g a t e s i n c l u d e r e q u i r e d r e s e r v e s o f member b a n k s amd E d g e l e t C o r p o r a t i o n s a n d o t h e r d e p o sitory i n s t i t u t i o n s . D i s c o n t i n u i t i e s a s s o c i a t e d w i t h t h e i m p l e m e n t a t i o n o f t h e Monetary C o n t r o l Act, t h e i n c l u s i o n o f E d g e A c t C o r p o r a t i o n r e s e r v e s , and o t h e r c h a n g e s i n R e g u l a t i o n D h a v e b e e n r e m o v e d . 2 Reserve b a l a n c e s w i t h F e d e r a l R e s e r v e B a n k s p l u s v a u l t c a s h a t i n s t i t u t i o n s w i t h r e q u i r e d r e s e r v e balances plus vault cash equal t o required reserves at other i n s t i t u t i o n s . 3 E x t e n d e d c r e d i t c o n s i s t s o f b o r r o w i n g a t t h e d i s c o u n t window u n d e r t h e t e r n s a n d c o n d i t i o n s e s t a b l i s h e d for the e x t e n d e d c r e d i t p r o g r a m to h e l p d e p o s i t o r y i n s t i t u t i o n s d e a l w i t h s u s t a i n e d l i q u i d i t y pressures. Because t h e r e i s n o t t h e s a n e n e e d t o r e p a y s u c h b o r r o w i n g p r o m p t l y a s t h e r e i s w i t h t r a d i t i o n a l shortterm a d j u s t m e n t c r e d i t , t h e n o n e y n a r k e t i m p a c t o f e x t e n d e ^ c r e d i t i s s i n i l a r t o t h a t o f n o n b o r r o w e d reserves* 4 Consists o f reserve b a l a n c e s a n d s e r v i c e - r e l a t e d b a l a n c e s and a d j u s t m e n t s a t F e d e r a l R e s e r v e B a n k s in the current week p l u s v a u l t c a s h h e l d t w o w e e k s e a r l i e r u s e d t o s a t i s f y reserve r e q u i r e n e n t s at a l l d e p o s i t o r y i n s t i t u t i o n s p l u s c u r r e n c y o u t s i d e t h e O . S . T r e a s u r y , F e d e r a l R e s e r v e B a n k s , and t h e v a u l t s of d e p o s i t o r y i n s t i t u t i o n s , p l u s s u r p l u s v a u l t c a s h a t d e p o s i t o r y i n s t i t u t i o n s . 5 On S e p t e m b e r 7 , 1 9 8 3 b a n k - r e l a t e d c o m m e r c i a l p a p e r o u t s t a n d i n g w a s $ 3 6 , 6 2 9 m i l l i o n . Yield at 20-year c o n s t a n t n a t u r i t y . Source: O.S. T r e a s u r y . Mote: All percentage changes are a t s e a s o n a l l y adjusted annual r a t e s , not conpounded. P — i n d i c a t e s preliminary data. 1
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