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• •V»0» FEDERAL /72) Reserve Aggregates 1/?/ Total reserves Nonborrowed r e s e r v e s Required r e s e r v e s Reserves A v a i l a b l e t o Support P v t . Nonbank Deposits Monetary Aggregates Mj (Currency plus demand d e p o s i t s ) *2 <Mi P l u s time d e p o s i t s a t commercial banks other than l a r g e time CD's) Adjusted c r e d i t proxy .3/ 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 banks Other Reserve Measures & I n t e r e s t Rates Member bank borrowings ($ m i l . ) I n c l u d e s S e a s o n a l Borrowings o f : Federal funds r a t e 3-month Treasury b i l l r a t e 90-119 day d e a l e r placed commercial paper r a t e 4/ 3-month CD r a t e (secondary market) 5/ 3-month E u r o - d o l l a r r a t e U.S. Government bond r a t e 6/ A--Mot S e a s o n a l l y A d j u s t e d . RESERVE statistical WEEKLY SUMMARY OF BANKING AND CREDIT MEASURES (Averages of d a i l y f i g u r e s ) 4 Wks. ended S e p t . 19 I S e p t . 1 2 S e p t . 19 I Aug. 22 ($ B i l . , SA) 34.07 33.51 34.03 33.86 33:9! i!:I! Hit ll : l° 32.04 31.85 32.20 31.91 Week ended 4 Wks. ended S e p t . 12 | S e p t . 51 S e p t . 12 I Aug. 15 ($ B i l . , SA) 263.8 263.7 552.2 446 .6 355.4 5,5 552.0 445.1 355.4 4.4 263.9 release For Immediate Release September 20, 1973 Percent Chanee (Seasonal 1v AH Ann..ai Average of 4 Weeks Ended S e p t . 19. 1 9 7 3 ^ r o m 4 M e e k 13 weeks previous I 26 weeks previous | 52 weeks Avprao(>g 9.5 7.4 9.2 12.2 12.9 5.5 10.0 7.5 9.4 12.7 11.9 11.0 Average of 4 Weeks Ended S e p t U , 1973 from 4 Week A v e ^ T 13 weeks previous | 26 weeks previous | 52 weeks previous 263.9 551.6 548.7 445.0 440.9 355.1 351.0 4.6 4.0 4 Wks. ended S e p t . 191 S e p t . 12 S e p t . 1 9 : Aug. 22 (NSA) ,707 139 10,.80 8,.71 10,.50 10,.97 11,.40 7 .35 ' 1,487 2029 145 15.9 10.74 10.78 8.95 > 8.74 - 10.50 10.48 10.90 10.93 11.45 ^.48 7.28 7.35 2037 153 10 .47 8 .62 10 .11 10, 11.[40 7.,67 SA—Seasonally A d j u s t e d . a b o u t $ 3 . 2 b i l l i o n ; and e f f e c t i v e J u l y 19, 1973, which i n c r e a s e d r e q u i r e d r e s e r v e s by a b o u t $760 m i l l i o n . E f f e c t i v e J u l y 12, 1973 m a r g i n a l r e s f e r v e r e q u i r e m e n t s on i n e l i g i b l e a c c e p t a n c e s i n c r e a s e d r e q u i r e d r e s e r v e s by a b o u t $90 m i l l i o n . Per c e n t a n n u a l r a t e s of growth f o r r e q u i r e d q 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 t o remoye 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 c h a n g e s . 2/ A d j u s t e d t o i n c l u d e c e r t a i n r e s e r v e d e f i c i e n c e s on which p e n a l t i e s can be waived f o r a t r a n s i t i o n p e r i o d i n c o n n e c t i o n w i t h banlc a d a p t i o n t o R e g u l a t i o n J a s amended e f f e c t i v e November 9, 1972. The ad j u s temerit amounted t o $450 m i l l i o n from November 9 t o December 2 7 , 1972: $279 m i l l i o n f r o m December 2 8 , 1972 t o March 28, 1973; $172 m i l l i o n from March 29, 1973 t o J u n e 2 7 , 1973; and $112 m i l l i o n t h e r e a f t e r . I n c l u d e s member bank d e p o s i t s , b a n k - r e l a t e d commercial p a p e r , E u r o d o l l a r b o r r o w i n g s of U . S . b a n k s , 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 1 2 , 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 amounted t o $5226 m i l l i o n . 1 A v e r a g e of r a n g e 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 . o f d e p o s i t w i t h 3-month m a t u r i t y i n second m a r k e t . D a i l y a v e r a g e y i e l d on 2 0 - y e a r b o n d s . S o u r c e : U . S . T r e a s u r y . NOTE: A l l p e r c e n t a g e c h a n g e s 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 , not compounded. I
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