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FEDERAL RESERVE s t a t i s t i c a l r e l WEEKLY SUMMARY OF BANKING AND CREDIT hEASURES (Averages of d a i l y f i g u r e s ) e a s e For Immediate R e l e a s e September 25, 1975 P e r c e n t Change ( S e a s o n a l l y Adjiinfrd Annual Rarp.^).. Reserve A g g r e g a t e s 1 / 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 A g g r e g a t e s M^ (Currency p l u s demand d e p o s i t s ) M- (Mj p l u s time d e p o s i t s a t commercial banks o t h e r than l a r g e time CD's) A d j u s t e d c r e d i t proxy 2J 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 : F e d e r a l 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 p l a c e d commercial paper r a t e — ' 3-month CD r a t e (secondary market) 3-month E u r o - d o l l a r r a t e U . S . Government bond r a t e —' NSA--Not S e a s o n a l l y A d j u s t e d . •1/ Week ended 4 Wks. ended S e n t . 24 1 S e p t . 17l S e p t . 24 I Aug. 27 ($ B i l . , SA) 34.65 34.25 34.61 32.65 34.55 34.22 34.39 32.74 34.64 34.31 34.35 32. 86 N 34.57 34.36 34.39 32.77 Week ended 4 Wks . ended S e p t . 17 1 S e p t . i d S e p t . ,17. lAue." 20 ($ 295, .4 295.4 295.5 656.4 656, .9 506, ,2 506.3 440, .2 439.1 4, .0 4.2 Week ended Sppr. ?4 64 "6,.29 6,.36 6,.83 7,.03 7,.50 8,. 5 3 I 61 6.,28 6..48 6..80 7..04 7..44 8..67 . 58 6.,20 6, .41 6..77 7, .02 7,.34 8,.55 -1.9 -4.6 -1.7 -2.5 -1.1 -2.4 -0.9 -1.2 Average of 4 Weeks Ended S p n t . 17. 1975 13 weeks p r e v i o u s ) 26 weeks p r e v i o u s -1.5 -7.9 -1.5 -1.5 | from 4 Week Averages 52 weeks previous 293.5 656.2 652.3 505.1 503.3 .438.4 437.9 3.7 2.5 4 Wks. ended Rppr. 17 S e p t . ?4 (NSA ) Average of 4 Weeks Ended S e p t . 2 4 . 1975from 4 Week Averages 13 weeks p r e v i o u s | 26 weeVs p r e v i o u s 1 52 weeks p r e v i o u s -U3 2.8 3.3 7.8 aTIsT ?7 35 6.14 6.44 6.59 6.o84 7.22 8.49 SA--Seasonally 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 paper. R e s e r v e s A v a i l a b l e to Support P r i v a t e Nonbank D e p o s i t s are 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 » f r 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. R e s e r v e a g g r e g a t e s r e f l e c t changes i n R e g u l a t i o n D. Per c e n t annual 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 t o remove the 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 . "2J I n c l u d e s member bank d e p o s i t s , l o a n s s o l d to 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 . ' f J3/ On September 1 7 , 1975 b a n k - r e l a t e d commercial paper amounted t o $ 8 , 7 9 2 m i l l i o n . ^ 4 / 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 market. 5 / D a i l y a v e r a g e y i e l d on 2 0 - y e a r bonds. Source: U.S. T r e a s u r y . NOTE: 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 annual r a t e s , n o t compounded.