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.• o» cow.-. FEDERAL (Ry< 4/72) QVRESERVE statistical WEEKLY SUMMARY OF BANKING AND CREDIT MEASURES (Averages of d a i l y f i g u r e s ) 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 S u p p o r t P v t . Nonbank D e p o s i t s Monetary Aggregates A o t h e r t h a n l a r g e time C D ' s ) A d j u s t e d 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 m e m b e r . b a n k s Other Reserve Measures & I n t e r e s t Rates Member bank b o r r o w i n g s ($ m i l . ) "includes Seasonal Borrowings of: Federal funds r a t e 3-month T r e a s u r y b i l l r a t e ' 9 0 - 1 1 9 day d e a l e r p l a c e d commercial p a p e r r a t e 4 / 3-month CD r a t e ( s e c o n d a r y m a r k e t ) 5/ 3-month%Euro-dollar r a t e U . S . Government bond r a t e 6/ K5A--Not S e a s o n a l l y A d j u s t e d . 1/ 34.16 31.79 33.96 32.22 34.06 33.85 32.17 32.36 33.82 33.58 32.15 31.72 Week ended | _4 Wks. ended ~ A u g . 29 1 A u g . 22| A u g . 29 | A u g . 1 ($ B i l . , SA) 263.2 ( \ 4 Wks . ended ($ B i l . , SA) 34.39 32.83 33.89 32.68 264.9 550.8 552.1 443.4 444.9 355.1 354.6 3.4 4,2 Week ended S e p t . 51 A u g . 29 16B 10.79 8.69 10.50 - 10.93 11.56 7.32 For Immediate R e l e a s e S e p t e m b e r 6 , 1973 Percent Change ( S e a s o n a l l y AH^„Sfprf Ann„ a i Week ended Reserve Aggregates 1/?/ release 2558 185 10.79 8.59. 10.43 10.93 11.52 7.44 264.0 -264.2 550.6 547.6 443.7 437.7 353.7 348.2 4.9 XT4 Wks. ended S e p t . 5| Aug. . 166 10.62 8.75 10.36 10.85 11.46 7.52 Average of 4 Weeks Ended S e p t 5 , 1973 f r o m 4 M e e k A w t . 13 weeks p r e v i o u s I 26 weeks p r e v i o u s 1 52 weeks p r e v i o u s " 7.5 7.-9 8.7 12.7 9.5 4.3 8.1 •8.1 9.0 1* J3«. 1L 1i i1.. y9 11.3 Average of 4 Weeks E^d~ Aug 2 4 , 1973 from 4 Week A v e r t s 13 weeks p r e v i o u s | 26 weeks p r e v i o u s | 52 weeks p r e v i o u s 5.4 18.4 ,136 i 10.44 8.19 9.65 9.97 10.98 7.48 SA—Seasonally A d j u s t e d . 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 b o r r o w i n g s and b a n k - r e l a t e d commercial p a p e r . R e s e r v e s A v a i l a b l e t o Support P r i v a t 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 r e s e r v e s . R e s e r v e a g g r e g a t e s r e f l e c t t h e change i n R e g u l a t i o n D e f f e c t i v e November 9, 1972, which reduced r e q u i r e d r e s e r v e s by about $ 3 . 2 b i l l i o n , and e f f e c t i v e J u l y 1 9 , 1 9 7 3 , w h i c h 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 $ 7 6 0 m i l l i o n . E f f e c t i v e J u l y 1 2 , 1 9 7 3 , m a r g i n a l r e s 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 b y a b o u t $90 m i l l i o n . P e r c e n t a n n u a l r a t e s of g r o w t h 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 h a v e been a d j u s t e d t o remove t h e e f f e c t o i t h e s e s t r u c t u r a l c h a n g e s . " w— 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 w h i c h p e n a l t i e s c a n b e w a i v e d 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 b a n k 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 , 1 9 7 2 . The a d j u s t m e n t a m o u n t e d t o $ 4 5 0 m i l l i o n f r o m November 9 t o D e c e m b e r 2 7 , 1 9 7 2 ; $279 m i l l i o n f r o m D e c e m b e r 2 8 , 1 9 7 2 t o M a r c h 2 8 , 1 9 7 3 ; $172 m i l l i o n f r o m March 2 9 , 1973 t o J u n e 2 7 , 1 9 7 3 ; arid $112 m i l l i o n t h e r e a f t e r . ' • 3/ I n c l u d e s member b a n k d e p o s i t s , 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 , 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 , t and c e r t a i n n o n d e p o s i t i t e m s . 4 / On A u g u s t 2 9 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 $ 5 , 0 8 9 m i l l i o n . 1 5./ A v e r a g e of r a n g e o f 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 - m o n t h m a t u r i t y i n s e c o n d m a r k e t . 6 / 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 . Source: U.S. T r e a s u r y . FRASER 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 , n o t c o m p o u n d e d . Digitized for
@FedFRASER