Full text of H.3 Aggregate Reserves of Depository Institutions and the Monetary Base : July 11, 1968

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G.IO

AGGREGATE RESERVES AND MEMBER BANK DEPOSITS
(Averages of daily figures, in billions of dollars)
Seasonally adjusted

Deposits subject to reserve requirements

Member bank reserves 1/
Period
Total
1967--Apr.
May
July
Aug.
Sept.
Oct.
Nov.
Dec.
1968--Jan.
Feb.
Mar.
Apr .
May
June P

Nonborrowed

For immediate release
July 11, 1968.

Required

Total

Time and
Savings

Total

2/

Net Demand Depo sits
U.S. Gov't.
Private 3/

23.91
23.95
24.11
24.34
24.63
24.79
25.12
25.28
25.15

23.78
23.87
23.98
24.28
24.59
24.72
25.02
25.14
24.85

23.53
23.53
23.66
23.96
24.26
24.45
24.81
24.95
24.91

255.8
257.2
259.5
262.4
266.1
268.4
270.8
272.9
273.2

137.2
138.7
140.8
142.8
144.6
146.3
147.4
148.6
149.9

118.6
118.5
118.6
119.6
121.5
122.1
123.4
124.3
123.2

113.0
114.5
116.0
116.7
117.5
117.6
118.2
118.7
118.6

5.6
4.0
2.6
2.9
4.0
4.5
5 .1
5 .6
4.6

25.50
25.77
25.81
25.62
25.71
25.80

25.19
25.40
25.14
24.94
24.98
25.11

25.15
25.39
25.40
25.28
25.24
25.43

274.7
277.0
278.0
276.9
277.3
278.7

149.9
150.2
151.2
151.3
151.5
151.7

124.8
126.8
126.8
125.6
125.8
127.0

119.4
119.7
120.1
120.4
122.1
123.1

5.4
7.1
6.7
5.2
3.7
3.9

p - Preliminary.
1/ Data on member bank reserves prior to January, 1968 are adjusted to eliminate effects of changes in reserve
requirement percentages.
2J Components may not add to totals due to rounding.
3/ Private demand deposits include all demand deposits except those due to U.S. Gov't, less cash items in
process of collection and demand balances due from domestic commercial banks.
NOTE: Reserve data have been revised to reflect percentage reserve requirements effective in January 1968 and all
series have been revised to take account of changes in seasonal factors. Revised back data are available
'
. on request from the Division of Research and Statistics, Board of Governors of the Federal Reserve System,
V>'
Washington, D. C. 20551.




REVISION




BOARD OF G O V E R N O R S

FEDERAL R E S E R V E SYSTEM
WASHINGTON,

w

D.

C.

20551

Dear Sir:
Enclosed are back data for aggregate reserves and member
bank deposits subject to reserve requirements. • For additions or
revisions, see the latest Bulletin table, "Aggregate Reserves and
Member Bank Deposits," which includes the last 13 months for these

Very truly yours,

James B. Eckert,
Chief, Banking Section,
Division of Research and Statistics.

Enclosure.




3

Aggregate Reserves and Member Bank Deposits
The attached tables provide back data for the reserve and
deposit series published in the Federal Reserve Bulletin. Current
data are published monthly in the Bulletin on a seasonally adjusted
and on an unadjusted basis. These series, seasonally adjusted, also
are available about one week after the end of each month in the
Federal Reserve release "Aggregate Reserves and Member Bank Deposits,"
(G.10). Information on definitions and adjustments for each of the
series follow.
, Member bank reserves. Beginning in February 1968, unadjusted data
ft>r total reserves, nonborrowed reserves, and required reserves are the
reported monthly averages of daily figures, shown on the third page of
the statistical section of the Bulletin. Nonborrowed reserves may be
derived by subtracting member bank borrowings from total reserves or,
alternatively, by adding 'free reserves" to required reserves.
Prior to Rkruary 1968, the aggregate reserve series do not
correspond in level to the reported data, because back data have been
adjusted to eliminate effects of numerous changes in percentage reserve
requirements as determined by the Board of Governors. The level cf the
required reserve series has been linked back from the actual February level
on the basis of month-to-month changes in the ratio of total required
reserves to total deposits subject to reserve requirements. Fluctuations
in this ratio reflect shifts in the relative importance of time and
demand deposits, and in the distribution of deposits among classes of
member banks. Effects of changes in percentage reserve requirements,
which also are reflected in the actual average reserve ratio, have been
eliminated for purposes of constructing these series. Back data for
the required reserve series were derived by multiplying total deposits
subject to reserve requirements by the adjusted average reserve ratio.
Consistent series on total reserves and nonborrowed reserves were derived
by adding reported monthly averages of excess and free reserves, respectively, to the back data on required reserves.
Each of these aggregate reserve series was seasonally adjusted
separately by ratio-to-moving average techniques. The three sets of
seasonal factors were reviewed for consistency with the member bank
deposit series, from '?hich required reserves are derived, and with
excess and free reserves, which account for the differences between
the three aggregate reserve series.
Deposits -suhi&ct^to reserve requirements. These deposit series
include all deposits subject to reserve requirements--total time and
savings and net demand deposits--as defined in the Board's Regulation D.
All time and savings deposits, including those due to the U.S. Government
and to commerciaTbanks are subject to reserve requirements, but net
demand deposits are defined as total demand deposits less cash items in
process of collection and demand balances due from domestic commercial
banks. Three analytical breakdowns of net demand deposits are provided
in the table: net interbank demand deposits, other private demand
deposits, and U.S. Government demand deposits.




J

3/

-2-

Net interbank demand deposits Include all demand deposits
due to domestic and foreign commercial banks and due to mutual savings
banks, less demand balances due from domestic commercial banks. Member
bank "due to" and "due from" items thus are netted out in this deposit
series, as in net demand deposits, for consistency with the required
reserve series. The inclusion of balances due to foreign commercial
banks and mutual savings banks In member bank private demand deposits
is consistent with the treatment of these items in the demand deposit
component of the privately held money supply. Demand deposits due to
nonmember banks are excluded from the money supply, but they are included
In the member bank private demand deposit series for consistency with
the required reserve series.
Other private demand deposits, as shown in the tabic, represent
demand deposits other thrift' those due to banks and the U.S. Government,
less cash items in process of collection. This series--whlch constitutes
the largest proportion of demand deposits included in the privately held
money supply--includes deposits due to individuals, partnerships, and
corporations as well as smaller amounts due to state and local governments
and to foreign .official accounts.
All U. S. Government demand deposits have been subject to
reserve requirements since July 1947. In the first 6 months of 1947,
Government War Loan Accounts were exempt from requirements. However,
for purposes of the series shown in these tables, War Loan Accounts
have been included in both the Government demand and total deposits
series in the first half of 1947. Consequently, deposit movements in
early 1947 are not consistent with movements in the reserve aggregates.
Separate seasonal adjustments, were computed by ratio-to-movingaverage methods for total deposits, net interbank demand deposits, other
private demand deposits, and total time and savings deposits. The
seasonally adjusted U. S. Government demand deposits series was derived
as a residual series by subtracting seasonally adjusted time deposits
and private demand deposits from total deposits subject to reserves.




3
AGGREGATE RESERVES AND MEMBER BANK DEPOSITS
Monthly Averages of Daily Figures
In billions of dollars, not seasonally adjusted

MEMBER RESERVES
Period

Total

1947--Jan.
Feb.
Mar.
Apr.
May

14.41
14.13
14.16
14.02
13.98
13.98
14,06
14.17
14.53
14.7214.63
14.89

July
Aug.
Sept.
Oct.
Nov.
Dec .

1948--Jan.
15.00
14.42
Feb.
Mar . 14.27
Apr.
14.11
14.11
May
14.26
June
14.20
July
14.34
Aug.
Sept. 14.52
14.43
Oct.
14.43
Nov.
14.57
Dec.
1949--Jan.
Feb.
Mar .
Apr .
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.

14.57
14.22
14.09
13.91
13.93
13.95
14.24
14.39
14.50
14.50
14.51
114.66

borrowed
14.30
13.92
13.99
13.90
13.88
13.85
13.96
14.05
14.39
14.55
14.35
14.66
14.86
14.17
14.00
14.00
13.97
14.16
14.11
14.25
14.39
14.32
14.32
14.44
14.40
14.11
13.94
13.81
13.75
13.85
14.13
14.30
14.42
14.45
14. £7
14.54




Required
13.56
13.32
13.29
13.19
13.20
13.20
13.27
13.37
13.60
13.76
13.78
13.90
13.92
13.61
13.45
13.30
13.37
13.40
13.39
13.50
13.63
13.62
13.66
13.78

13.73
13.51
13.39
13.20
13.15
13.19
13.22
13.43
13.57
15.64
13.70
! 13.85

DEPOSITS SUBJECT TO RESERVE REQUIREMENTS
Private Dcnand
US
Time &
Total
, Gov't.
Net
Savings Tota 1
Other
Demand
Interbank
106.1
104.9
104.9
104.2
104.2
104.0
104.5
105.2
106.7
107.9
108.0
108.6

27.3
27.5
27.7
27.8
27.9
28.0
28.1
28.1
28.3
28.4
28.3
28.2

76.4
74.5
74.0
73.8
74.3
75.2
75.6
75.8
77.1
77.5
78.2
79.6

6.2
5.9
6.0
5.8
5.7
5.6
5.6
5.7
5.9
6.1
6.1
6.1

108.9
107.3
106.4
105.6
106.0
106.2
106.3
107.0
107.7
107.9
108.2
108.6

28.4
28.5
28.6
28.6
28.6
28.7
28.8
28.8
23.8
28.8
28.7
28.6

79.8
77.3
75.9
74.9
75.0
75.6
75.8
76.1
76.8
77.0
77.3
78.4

6.1
5.7
5.5
5.J
5.2
, 5.4
5.4
5.5
5.7
5.7
5.8
5.9

108.6
*07.4
106.8
105.7
105.4
105.7
105.8
107.1
108.2
108.8
109.2
110.1

28.9
28.9
29.1
29.1
29.2
29.3
29.3
29.3
29.3
29.3
29.2
29.1

73.3
75.9
75.0
74.3
74.5
75.1
75.2
75.3
76.0
76.4
76.8
78.6

6.1
5.6
5.5
5.3
5.1
5.2
5.3
5.3
5.4
5.5
5.6
5.6

70.2
68.1
68. 0
68. 6
69.6
70.0
70.2
71.1
71.4
72 .1
73.5

2.4
2.9
3.2
2.6
2.0
0 8
0'.9
i.?
1.4
2 .0
1.5
0.8

73.6
71.6
70.4
69.6
69.7
70.?
70.3
70.6
71.1
71.3
71.4
72.6

0.8
1.4
1.8
2.0
2.4
1.9
i .7
2 .2
2.1
2.1
2 .2
1.6

72.2
70.3
69.f
69.U
69.4
69.9
70.0
70.0
70.6
70.9
I 71.3
| 73.0

1.4
2 .5
2 .7
2.3
1.7
1.3
1.2
2.6
2.9
3.2
3.2
2.5

:

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|
:
:
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v
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•
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,
,
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i
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-2-

Monthly Averages of Daily Figures
In billions of dollars, not seasonally adjusted
Period

MEMBER RESE SVES
DEPOSITS SUBJECT TO RESERVE REQUIREMENTS
NonUS
Private Demand
| Time &
j RequiredI Total
borrowe
Savings
Net
r Gov't.
Total
Demand
Inteiban

Total

1950--Jan.
Feb.
Mar .
Apr .
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec .

14.87
14.51
14.46
14.28
14.33
14.55
14.61
14.62
14.94
15.05
15.05
15.66

14.84
14.39
14.33
14.18
14.25
14.49
14.48
14.45
14.84
14.99
14.91
15.52

13.94
13.78
13.67
13.59
13.62
13.79
13.86
13.97
14.17
14.21
14.32
14.63

110.9
29.3
29.4
110.1
109.7
29.5
29.6
109.2
109.5
29.7
110.6
29.7
29.7
111.1
111.7
29.5
112.8 " 29.5
113.1
29.5
113.9
29.4
29.4
115.7

79.0
77.4
76.9
76.6
77.1
78.0
78.3
79.0
80.2
81.1
81.8
84.3

5.7
5.5
5.5
5.4
5.3
5.3
5.3
5.3
5.5
5.7
5.9
6.0

73.3
71.9
71.4
71.2
71.8
72.7
72.9
73.7
74.7
75.4
75.9
78.2

1951--Jan.
Feb.
Mar .
Apr .
May

1^.49
15.14
15.42
15.53
15.13
15.52
15 .43
15.37
15.55
15.98
15.88
16.32

15.27
14.81
15.18
15.37
14.69
15.35
15.24
15.08
15.21
15.89
15.54
15.66

14.66
14.51
14.71
14.70
14.54
14.69
14.67
14.67
14.83
15.06
15.15
15.49

116.4
115.6
116.5
116.5
115.7
116.6
116.8
117.1
118.2
119.7
120.6
122.7

29.6
29.6
29.6
29.6
29.7
29.8
30.1
30.2
30.4
30.6
30.7
30.7

84.9
83.0
82.8
81.2
81.3
82.5
82.2
82.9
84.5
85.5
87.1
89.5

6.2
5.8
5.8
5.6
5.5
5.6
5.7
5.7
5.8
6.1
6.2
6.3

78.7
77.2
77.0
75.5
75.7
76.9
76.5
77.2
78.6
79.4
80.9
83.2

1.8
3.0
4.2
5.7
4.8
4.3
4.5
3.9
3.3
3.7
2.8
2.5

16.47
16.02
16.24
15.83
15.81
16.13
16.44
16.24
16.44
16.49
16.58
16 .97

16.26
15 .66
15.93
15.46
15.25
15.55
15.36
15.21
15.76
15 .44
15.05
15.37

15.53
15.33
15.35
15.18
15.19
15.42
15.83
15.59
15.66
15.84
15.93
16.24

123.2
122.1
122.3
• 121.5
121.7
123.3
125.8
124.9
125.5
126.9
127.8
129.7

31.1
31.2
31.5
31.6
31.8
32.0
32.2
32 .4
32.6
32.9
33.0
33.1

90.1
87.8
87.2
85.4
85.9
87.3
36.5
86.6
88.2
89.1
90.0
92.1

6.5
6.1
6.0
5.9
5.7
5.8
5.9
6.0
6.2
6.4
6.4
6.5

83.6
81.8
81.2
79.5
80.2
81.5
80.6
80.7
82.0
82.6
81.6
85.6

2.0
3.1
3.6
4 .2
4.0
4.0
7.1
5.8
4.8
5.0
4.8
4.5

92 .2
89.5
89.3
88.1
88.1
89. 0
88.1
87.9
88.8
89.7
90.5
92.6

6.6
6.1
6.1
5.9
5.8
5.8
5.9
5.8
6.0
6.2
6.3
6 .4

85.6
83.4
83.2
82.2
82.3
83.1
82.2
82.1
82.7
83.5
84.1
86.1

3.4
4.3
4.0
3.4
2.5
2 .4
4.9
6.3
5.2
3.9
4.5
3.5

July
Aug.
Sept.
Oct.
Nov.
Dec .
1952--Jan.
Feb.
Mar .
Apr .
May
July
Aug.
Sept.
Oct.
Nov.
Dec .
1953--Jan.
Feb.
Mar .
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
for FRASER

16.76
16 .37
16.28
15.92
15.84
16.20
16.46
16.52
16.55
16.53
16.67
16.85

15.42
150.6
15.08
14.75
14.89
15.77
16.04
15.87
16.08
16.17
16.19
16.41

Digitized


16.06
15.74
15.70
15.39
15.25
15.41
15.68
15.88
15.83
15.78
15 .99
16.16

129.1
127.4
127.2
125.6
124.9
125.9
127.8
129.2
129.1
129.1
130.7
131.9

33.5
33.6
33.9
34.0
34.2
34.5
34.8
34.9
35.1
35.5
35.7
35.8

2 .6
3.4
3.2
3.0
2.8
2.8
3.1
3.1
3.1
2 .6
2.7
2.1

Monthly Averages of Dally Figures
In billions of dollars, not seasonally adjusted
MRMftF.n qPRFlWR
Total

borrowed

DEPOSITS STTR.TF.rT Tft RFSFRVF. T>FO|ITHF.MF.NTS
Time &
Savings

Required

Total

16.16
15.89
15.83
15.60
15.77
15.93
15.95
16.11'
16.08
16.59
16.79
16.97

132.3
130.7
130.7
129.6
130.7
132.0
132.5
133.8
134.0
137.4
138.8
139.8

36.2
36.6
37.0
37.4
37.7
38.1
38.6
38.9
39.1
39.3
39.2
39.1

93.3
90.8
90.1
88.5
89.4
90.4
90.1
90.4
91.4
92.5
93.9
96.1

16.82

Total

Net
Interbank

6.6

17.10
16.52
16.52
16.37
16.48
16.79
16.79
16.95
16.86
17.31
17.61
17.67

17.00
16.22
16.34
16.23
16.33
16.65
16.72
16.83
16.79
17.23
17.44
17.43

17.51
17.24
17.06
17.21
17.16
17.12
17.23
17.14
17.12
17.27
17.29
17.61

17.19
16.88
16.60
16.72
16.79
16.72
16.70
16.37
16.27
16.38
16.27
16.77

16.47
16.62
16.58
16.55
16.61
16.56
16.56
16.74
16.76
17.02

139.3
138.0
137.2
138.1
137.9
138.1
138.5
138.3
138.5
139.9
140.2
141.6

39.4
39.5
39.7
39.7
39.8
40.0
40.1
40.2
40.3
40.5
40.4
40.3

97.2
95.2
94.1
93.9
93.7
94.4
94.2
93.7
94.7
95 «3
95.9
98.2

6.3
6.1
6.2
6.3
6.2
6 .4
6 .4
6.5
6 .5

87.8
87.4
.4
.9
89.3
91.7

17.51
17.11
17.31
17.24
17.12
17.32
17.23
17.17
17.39
17.31
17.53
17.87

16.71
16.31
16.32
16.18
16.15
16.55
16.49
16.28
16.60
16.59
16.78
17.18

16.96
16.58
16.73
16.71
16 .66
16.74
16.63
16.61
16.82
16.79
16.94
17.22

141.3
139.0
139.9
139.9
139.7
140.5
140.0
140.0
141.5
141.7
142.6
144.2

40.4
40.4
40.6
40.7
40.8
41.2
41.4
41.6
41.8
42.0
41.7
41.7

99.0
96.2
95.6
95.5
94.2
95.5
95.1
94.4
95.7
96.2
97.2
99.5

6.7
6.3
6.3
6.4'
6.1
6.2
6.5
6.5
6 .6
6.7
6.9
6.9

92.4
89.9
89.3
89.1
.1
89.2
.5
87.9
89.1
89.5
90.3
92.6

17.63
17.19
17.25
17.44
17.18
17.33
17.46
17.18
17.29
17.41

17.30
http://fraser.stlouisfed.org/
17.72

17.23
16.55
16.42
16.43
16.27
16.33
16.54
16.18
16.31
16.60
16.49
17.01

17.11
16.67
16.73
16.93
16.71
16.84
16.93
16.65
16.77
16.95
16.79
17.15

144.2
141.7
142.3
144.0
143.0
143.9
144.8
143.3
144.3
145.5
144.7
147.1

42.5
,42.9
43.6
44.0
44.3
44.8
45.1
45.3
45.6
45.9
45.8
45.9

100.0
97.0
96.1
96.0
95.0
95.6
95.3
95.3
95.7
95.9
96.3
98.0

Federal Reserve Bank of St. Louis

16.61

6.2
6.1

6.0
6.0
6.0
6.2
6.3
6 .4
6.5
6.6
6.7
6.7
6.3

6.2

6.9
6.4
6.3
6.3
6.2
6.3

6.6

6.6
6.6
6.7

6.6
6.7

86.7
84.6
83.9
82.5
83.5
84.4
83.9
84.1
85.0
86.0
87.3
89.5
90.5
88.9
87.9
87.6
87.6
2

Monthly Averages of Dally Figures
In billions of dollars, not seasonally adjusted

MF.MRF.R RK
T0tal

18.57
18.26
18.11
18.35
18.26
18.13
18.35
18.29
18.27
18.29
18.30
18.62
18.57
17.91
17.72
17.80
17.93
17.99
18.20
18.18
18.38
18.54
18.71
18.95
18.99
18.63
18.49
18.55
18.53
18.70
18.72
18.89
19.0
19.
19:50
FRASER
L9.77

borrowed

flF.pflSTTS
Re<

l

ulred

Total

sim,ir,r.T

t o

Savings

Total

17.16
17.10
17.51
17.66
17.80
18.15
18.19
18.01
17.64
17.74
17.75
18.02

17.04
16.78
17.01
17.16
17.25
17.67
17.65
17.63
17.55
17.64
17.73
18.06

147.0
146.1
148.3
150.2
151.3
154.3
154.8
155.1
154.9
155.7
156.1
158.3

LOO. 0
102.1

18.01
17.75
17.51
17.67
17.49
17.21
17. 39
17.29
17.37
17.38
17.42
17.71

18.07
17.80
17.65
17.93
17.81
17.72
17.95
17.82
17.86
17.84
17.86
18.14

159.1

102.7

156.4
158.6
158.1

100.1

17.66
17.09
17.09
17.20
17.43
17.56
17.81
17.88
18.15
18.39
18.57
18.87
18.94
18.50

18/44

18.82
19.00
19.25
19.39
19.62

Digitized for


18.02
17.45
17.31
17.39
17.46
17.52
17.69
17.64
17.74
17.9
17 A b
IS. 18
18.24
17.98
17.93
17.94
17.98
18.09
18.14
18.29
18.45
18.81
18.87
19.20

98.1

159.1
158.3
158.6
158.5
158.3
159.8
101.9
155.4
155.3

159.4
160.8

98.3
101.0

164.2
163.4
163.8
164.5
165.4
166.7
167.6
169.0
170.5
173.4
174.0
176.2

3F.sr.Rvr,

r f q h t u f m f n i s

Private Demand

101.6

102.0
104.8

Interbank

Other

Monthly Averages of Daily Figures
In billions of dollars, not seasonally adjusted
MEMBER RESERVES
nr.PQSTTS fill UFX.T TO RF.sFRVF. RFQiITRF.NtF.NTS
Private Demand
Total . H o n
Required Total
Gov t.
borrowec
Savings
Other
Total
Intprbanl
_D„emam
19.73
19.23
19.20
19.37
19.47
19.56
19.67
19.56
19.66
19.91
20.01
20.45

19.66
19.16
19.11
19.30
19.40
19.46
19.58
19.43
19.58
19.85
19.89
20.14

19.11
18.72
18.73
18.86
18.96
19.07
19.14
18.99
19.21
19.43
19.41
19.87

20.43
19.99
19.92
19.98
20.08
20.13
20.44
20.13
20.36
20.42
20.54
21.17

20.33
19.82
19.76
19.86
19.87
19.89
20.11
19.80
20.04
20.11
20.17
20.85

19.95
19.52
19.49
19.55
19.62
19.76
19.95
19.67
19.95
20.01
20.13
20.64

191.3
189.3
190.2
191.2
192.6
194.1
196.0
194.9
197.3
198.5
199.9
203.7

21.10
20.57
20.64
20.71
20.65
20.99
21.10
21.00
21.37
21.48
21.61
22.06

20.84
20.26
20.38
20.50
20.39
20.72
20.84
20.67
21.04
21.17
21.18
21.82

20.67
20.17
20.28
20.33
20.31
20.60
20.70
20.58
20.95
21.07
21.22
21.65

205.4
203.1
204.5
205.4
206.0
208.5
209.7
209.6
212.5
214.1
215.6
219.1

22.09
21.69
21.70
21.98
21.94
22.18
22.34
22.10
22.2
22.46
 22.44
23.23
http://fraser.stlouisfed.org/

21.79
21.29
21,29

21.68
21.25
21.36
21.61
21.62
21.84
21.99
21.67
21.85
22.11
22.07
22.77

221.3
220.0
221.8
224.2
225.2
227.4
229.5
228.5
230.4
233.5
234.1
239.0

5^.51

£1.44
21.65
21.81
21.53
21.70
21.97
21.99
22.77

Federal Reserve Bank of St. Louis

176.6
175.1
176 .2
177.9
179.2

104.9
101.1
100.1
101.7

180.8

181.8
181.2
183.3
185.5
185.8
189.5

101.3
102.4

%
84 .6 /

91.3

100.5
101.6
102.1

109.3
110.4
111.7
112.7
114.1
115.7
118.4
119.1
119.8

LOO. 6
101.1
102 .0
101.2
102.6
104.0
105.5
107.9
108.6
104.4
103.6
105.4
102.5
103.3
104.5
104.1
106.1
107.6
108.3
111.3
111.8
107.0
106.6
108.7
104.8
106.A
107.2
106.2
108.9
110.6
111.5
115.2

100.4
101.2

100.5
103.5
103.8
101.2
p
7 .7

101.1
107.2

-6-

Monthly Averages of Daily Figures
In billions of dollars, not seasonally adjusted
DEPOSITS SUBJECT TO RESERVE REQUIREMENTS
MEMBER RESERVES
Private Demand
/
Time &
Required Total
Savings
borrowed
Total Interbank > ^ * i e r
23.26
22.72
22.66
23.05
23.01
23.06
23.36
22.71
23.00
22. 95
22.89
23.47
23.71
23.33
23.65
23.84
23.76
24.01
24.42
24.28
24.71
25.12
25.25
25.78

22.86
22.24
22.11
22.42
22.28
2 2 . 38
22.60
21.98
22.23
22. 22
22.28
22.91

22.91
22.35
22.35
22.69
22.64
22.73
22.96
22.37
22.60
22.65
22.50
23.08

23.32
22.97
23.46
23.70
23.66
23.89
24.33
24.19

23.33
22.97
23.22

25/12




241.1
238.3
239.1
242 . 4
243.1
243.9
246.6
243.4
244.6
244.6
243.0 ,
247 . y

8.0
8.0

8.2
8.2

127.3

24.06
23.90
24.35
24.84
24.85
25.44

267.3
271.1
271.9
275.9

25.65
25.21
25.22
25.28
25.09

278.3
276.1
277.1
277.5
276.5

149.4
150.9
152.2
152.0
152.3

if?:?

8.3
'7.7
7.8
7.5
7.7
8.3
7.6

125.4
126.8
127.0
128.4

131.1
134.0
136.3
137.9
139.4
141.3
143.1
145.2
146.0
147.0
147.6
148.1

# 0 . 9

'250.2
253.2
256.3
256.5
258.9

lA

121.4
122.4

111.8
112.6
114.2
111.2
114.2

8.5
8.1
7.8
8.4
7.8
8.4

116.9
118.5
119.7
123.3

8.7
9.0
9.1
9.1

124.4
118.8
119.1
121.7
118.6

9.4
8.9
8.8
8.9

116. 1

nil 1:1

AGGREGATE RESERVES AND MEMBER BANK DEPOSITS
Monthly Averages of Daily Figures
In billions of dollars, seasonally adjusted

PERIOD
1947—Jan.
Feb.
Mar.
Apr.
May
June
* July
Aug.
Sept.
Oct.
Nov.
Dec.

MEMBER RESERVES
DE POSITS SUBJECT TO RESERVE REQUIRE MI2 NTS
NonTime &
US Gov 1 1
Private Demand
Required Total
borrowed
Saving! Total Net Interbanl< Other
Demand

Tota]
14.13
14.14
14.25
14.31
14.30
14.11
14.18
14.26
14.43
14.59
14.53
14.57

14.59
14.43
Feb.
Mar. 14.36
Apr . 14.40
14.43
May
14.39
July 14.33
Aug. 14.42
Sept. 14.42
Oct. 14.30
Nov. 14.33
Dec. 14.26

1948--Jan.

1949--Jan.

14.17
Feb.
14.23
Mar . 14.17
Apr . 14.19
May
14.24
14.07
July 14.36
Aug. 14.48
Sept. 14.41
Oct. 14.37
Nov. 14.41
Dec. 14.34

13.93
13.28
13.96
13.27
14.10
13.32
14.16
13.36
14.20
13.44
13.95
13.37
14.03
13.45
14.09
13.46
14.27 , 13.54
14.36
13.68
14.28
13.65
14.46
13.61

104.5
104.6
105.2
105.5
105.5
105.0
105.4
105.7
106.3
107.1
107.1
107.1

27.4
27.5
27.7
27.7
27.8
27.9
27.9
28.1
28.3
28.4
28.4
28.4

73.9I
74.2
74.8
75.4
75.8
76.2
76.6
76.7
77.0
77.0
77.3
77.1

5.8
5.9
6.0
6.0
6.0
5.8
5.8
5.8
5.9
5.9
5.8
5.8

68.1
68. 3
68.8
69.3
69.8
70.4
70.8
70.8
71.1
71.1
71.5
71.3

3.2
2.9
2.8
2.4
1.9
0.8
0.8
0.9
1.0
1.7
1.4
1.6

14.47
14.22
14.12
14.27
14.30
14.26
14.18
14.29
14.26
14.14
14.25
14.24

13.63
13.56
13.48
13.48
13.62
13.58
13.56
13.58
13.58
13.53
13.54
13.49 t

107.3
107.0
106.7
107.0
107.3
107.2
107.2
107.5
107.3
107.2
107.3
107.1

23.5
28.6
28.6
28.6
28.6
28.6
28.7
28.7
28.8
28.8
28.9
29.3

77 .2
77.0
76.7
76.5
76.5
76.6
76.8
76.9
76.7
76.5
76.4
76.0

5.7
5.7
5.6
5.5
5.5
5.6
5.6
5.7
5.6
5.6
5.6
5.6

71.5
71.3
71.1
71 .0
70.9
71.0
71 .2
71.3
71.1
70.9
70.8
70.4

1.6
1.4
1.4
1.9
2.3
1.9
1.6
l.R
1.7
1.9
2.1
1.9

14.02
14.15
14.05
14.08
14.09
13.90
14.20
14.35
14.29
14.27
14.30
14.34

107.0
13.45
107.0
13.45
107.1
13.42
13.38 1O7.0
13.39 106.8
13.36 106.6
13.38 106.6
13.52 1107.6
13.53 107.8|
13.56 1V8.2i
13.57 108.5)
108.6 J
13.57

28.9
29.0
29.0
29.1
29.2
29.2
29.2
29.2
29.3
29.3
29.3
29.3

75.8

75.6
75.8
75.8
76 .0
76.1
76.3
76.1
76.0|
76.01
76.0|
76.lj

5.6
5.6
5.5
5.5
5.5
5.4
5.5
5.4
5.4
5 .4
5.3
5.3

70.1
70.0
70.3
70.4
70.6
70.6
70.8
70.7
70.6
70.6
70.6
70.8

2.3
2.4
2.4
2.1
1.5
1.4
1.1
2 .2
2.6
2.9
3.2
3.3




:
•
;

i

•

'

,

Monthly Average of Dally Figures
In billions of dollars, seasonally adjusted
MEMBER RESERVES
Period
1950--Jan.
Feb.
Mnr .
Apr .
May
July
Aug.
Sept.
Oct.
Nov .
Dec .
1951--Jan.
Feb.
Mar
Apr .;
May ;
July.
Aug.
Sent.
Oct.
Nov.

1952--Jan.
Feb.
Mar .
Apr.
May
July
AUR .
Sept.
Oct.
Nov.
. Dec.

Total

DEPOSITS SUBJECT TO RESERVE REQUIREMENTS
Private Demand
Time & 1
US Gov't.
Net
Saving!:
Demand
Other
| Total
Interbank(

borrowed Required Total

14.47
14.53
14.54
14.58
14.65
14.69
14.69
14.73
14.86
14.92,
14.95
15. 31

14.45
14.43
14.43
14.46
14.60
14.50
14.54
14.55
14.75
14.79
14.83
15.30

13.65
13.72
13.70
13.77
13.87
13.97
14.01
14.07
14.15
14.13
14.19
14.32

109.3
109.8
109.9
110.5
110.9
111.4
111.8
112.2
112.6
112.7
113.1
114.0

29.4
29.4
29.5
29.6
29.7
29.6
29.6
29.5
29.5
29.5
29.5
29.6

1 76.5
77.1
77.6
78.2
78.6
78.9
79.4
79.0
80.2
80.6
80.9
81.6

5.3
5.4
5.6
5.6
5.6
5.6
5.5
5.5
5:5
5.6
5.7
5.7

71.2
71.6
72.1
72.7
73.0
73.3
73.9
74.4
74.7
75.1
75.2
75.9

15.11
15.15
15.48
15.84
15.47
15.65
15.51
15.50
15.52
15.87
15.77
15.92

14.87
14.85
15.25
15.67
15.05
15.31

14.36
14.45
14.72
14.90
14.80.
14.88
14.82
14.79
14.85
14.97
15.01
15.14

114.6
115.4
116.7
117.8
117.3
117.5
117.7
117.6
118.3
119.3
119.8
120.6

29.7
29.6
29.6
29.6
29.7
29.7
30.0
30.2
30.4
30.5
30.8
30.9

82.1
82.5
83.1
82 .9
82.9
83.3
83.6
04.2
34.7
85.2
86.1
86.7

5.8
5.7
5.3
5.0
5.a
5.8
5.9
5.9
5.9
6.0
6.0
6.0

76.3
76.8
77.2
77.1
77.1
77.5
77.7
78.3
78.9
79.2
80.2
80.7

2.9
3.2
4.0
5.3
4.7
4.5
4.1
3.3
3.2
3.5
2.9
3.0

121.4
121.9
122.4
123.C
12 3.3
124.3
126.6
125.5
125.7
126.4
126.8
127 .6

31.1
31.3
31.5
31.7
31.8
31.9
32.1
32.3
32.6
32.8
33.1
33.4

87 .0
87.2
87 . J
87 .2
87 .6
83.0
87.9
88.1
88.7
88.9
89.0
89.2

6.1
6.1
6.1
6.1
6.0
6.1
6.1
6.2
6.2
6.3
6 .2
6.2

80.9
81.1
81.3
81.2
81.6
31.9
81.8
82.0
82.4
82.6
82.9
83.0

3.3
3.4
3.6
4.2
3.9
4.3
6. 6
5 .0
4.5
4.7
4.7
5.0

16.08
16.04
16.30
16.14
16.17
16.26
16.47
16. 37
16.42
16.39
16.45
16.55

15.28
15.20
15.15
15.68
15.51
15.46
15.83
15.71
16.01
15.76
15.63
15.50
15.39
15.33
15.71
15.26
15.04
15,18 |




15.21
15.27
15.37
15.38
15.46
15.62
15.96
15.72
15.71
15.75
15.79
15.88

3.4
3. 3
2.8
2.6
2.6
2.9
2 .9
2.8
2 .9
2.6
2.7
2.8

Monthly Averages of Daily Figures
In billions of dollars, seasonally adjusted
MEMBER RESERVES
Period

Total

borrowed

REOUIR]EMENTS
DEPOSITS SU 3JECT TO RESERVE !
Time &
Pr
US Gov't.
net
Savings
Other Demand
Total
Interbank

Required Total

1953--Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov .
Dec.

16.42
16.39
16.35
16.23
16.18
16.33
16.49
16.62
16.53
16.45
16.54
16.44

15.01
15.11
15.16
15.04
15.26
15.73
16.04
16.00
16.05
16.00
16.19
16.17

15.73
15.69
15.71
15.59
15.48
15.61
15.79
16.00
15.91
15.70
15.84
15.79

127.2
127.2
127.3
127.0
126.4
126.9
128.4
129.8
129.4
128.6
129.7
129.7

33.5
33.7
33.8
34.1
34.2
34.4
34.6
34.9
35.1
35.5
35.8
36.2

89.0
88.9
89.4
89.8
89.6
89.7
19.5
89.5
89.3
89.6
89.6
89.8

6.2
6.1
6.1
6.1
6.1
6.1
6.0
6.0
6.0
6.1
6.1
6.1

82.8
82.8
83.3
83.7
83.5
33.6
33.4
33.5
33.3
33.6
83.5
83.6

4.7
4.6
4.1
3.1
2.5
2.8
4.3
5.5
4.9
3.5
4.3
3.8

1954--Jan.
Feb.
Mar .
Apr.
May
July
Aug.
Sept.
Oct.
Nov.
Dec.

16.78
16.55
16.61
16.65
16.77
16.89
16.82
17.05
16.89
17.28
17.47
17.26

16.57
16.29
16.42
16.51
16.63
16.60
16.70
16.97
16.81
17.15
17.46
17.09

15.86
15.87
15.86
15.81
15.96
16.10
16.06
16.24
16.16
16.51
16.64
16.59

130.3
130.6
131.0
131.0
132.3
133.1
133.0
134.5
134.3
136.8
137.8
137.5

36.3
36.7
36.9
37.4
37.7
38.0
38.4
38.8
39.0
39.2
39.3
39.5

90.1
90.2
90.2
90.0
91.0
91.1
91.5
92.0
92.0
92.5
93.1
93.3

6.2
6.2
6.2
6.2
6.3
6.3
6.3
6.4
6.4
6.4
6.3
6.4

83.9
83.9
84.0
33.8
84.7
84.8
85.2
85.6
85.6
86.2
86.8
86.9

3.9
3.8
3.8
3.7
3.6
4.0
3.1
3.7
3.4
5.1
5.3
4.7

1955--Jan.
Feb.
Mar.
Apr.
Ma^
June
July
Aug.
Sept.
Oct.
Nov.
Dec.

17.23
17.29
17.16
17.39
17.39
17.21
17.26
17.24
17.19
17.25
17.17
17.20

16.77
16.95
16.70
16.92
17.05
16.67
16.68
16.52
16.35
16.35
16.30
16.43

16.54
16.65
16.56
16.72
16.72
16.69
16.72
16.69
16.61
16.69
16.65
16.67

137.5
138.0
137.9
138.6
139.1
139.0
139.1
139.0
138.8
139.4
139.5
139.6

39.5
39.6
39.6
39.7
39.7
40.0
39.9
40.0
40.2
40.4
40.6
40.7

93.9
94.6
94.5
95.1
95.3
95.1
95.5
95.2
95.3
95.4
95.1
95.5

6.3
6.3
6.4
6.4
6.4
6.4
6 .4
6.3
6.3
6.3
6.3
6.3

87.5
88.2
88.1
88.6
88.9
88.7
89.1
88.9
89.0
89.1
88.8
89.2

4.1
3.8
3.8
3.9
4.0
4.0
3.7
3.7
3.3
3.7
3.8
3.4




"

V/
-4Monthly Averages of Daily Figures
In billions of dollars, seasonally adjusted

MEMBER RESERVES
Period

Total

1956--Jan.
Feb.
Mar .
Apr .
May

;

#
i
4
^
|
1

•i

17.24
17.25
17.42
17.32
17.31
17.39
July 17.25
Aug. 17.28
Sept. 17 .46
Oct. 17.29
Nov. 17.46
Dec. 17.45

1957--Jan. 17.36
Feb. 17.33
Mar. 17.37
Aor. 17.51
May 17.35
June 17.40
July 17.48
Aug. 17.28
Sept. 17.36
Oct. 17.40
Nov. 17.23
Dec. 17.33
17 .33
17.48
17.79
17.86
18.08
L8.37
July 18.32
Aug . 18.38
Sept. L8.19
Oct. .8.14
Nov. .8.16
Dec. 8.16

1958--Jan.
Feb.
Mar .
Apr .
May

borrowed
16.33
16 .38
16 .44
16.32
16.35
16.53
16.48
16.42
16.70
16.56
16.82
16.83
16.87
16 .61
16.53
16.56
16.43
16.36
16.53
16.32
16.40
16 .57
16.51
16.65
16.81
17.17
17.63
17.78
17.98
18.24
18.17
18.18
17.75
17.70
17.73
17 .63




DEPOSITS SUBJECT TO RESERVE REQUIREMENTS
Private Dun a rid
U. S.
Time &
Net
Gov't.
Savings Total
Other
Interbank
Demand

Required

Total

16.69
16 .68
16.87
16.78
16.77
16.83
16.75
16.75
16 .87
16.74
16.85
16.87

139.7
139.4
140.6
140.4
140.6
140.9
140.6
140.7
141.fi
141.4
142.1
142.4

40.6
40.6
40.6
40.7
40.7
41.0
41.2
41.4
41.7
41.8
42.0
42.2

16 .84
16.77
16.87
. 17.00
16.83
16.92
16.94
16.78
16.82
16.90
16.72
16.79 •

142 .4
142.4
143.2
144.3
143.7
144.2
144.8
144.0
144.6
145.2
144.6
145.3

42.6
43.1
43.5
43.9
44.2
44.5
44.8
45.1
45.4
45.8
46.1
46.5

16.77
16 .88
17 .18
17.27
17.37
17.76
17.65
17.76
17.60
17.59
17.66
17.69

145.3
146.9
149.5
150.5
151.9
154.5
154.8
155.7
155.2
155.4
155.9
156.4 |

47.0
48.2
49.2
50.0
50.9
51.6
52.3
J2

.7

52.9
52.9
53.2
53.5

6 .4
6.4
6.5
6.5
6 .4
6.5
6.5
6.5
6 .6
6.5
6.7
6.7

89.4
89.3
89.6
89.7
89.5
89.8
89.7
89.4
89.8
89.8
89.8
90.1

96.9
96.7
96.8
96.6
96.7
96.4
96.5
96.6
96.2
95.9
95.6
95.4

6.6
6.5
6.5
6.4
6.5
6.5
6.5
6 .6
6.5
6.5
6.4
6.5

90.3
90.2
90.3
90.1
90.2
:9.9
90.0
90.0
89.6
89.4
89.3
88. 9

95.3
95.8
95.9
96.4
96.9
97.8
97.7
98.5"
98.6
98.9
99.2
99.4

6 .6
6.5
6.5
6.7
6.9
6.7
6.9
7.1
6 .8
6.7
6.6
6.6

95.8
95.7
96.1
96.2
95.9
96.2
96.2
95.9
96.3
96.3
96.5
96.3

88.7
89.3
89.4
89.7
90.0
91.0
90.9
91.4
91.8
92.1
92.6
92.8

3.3
3.1
3.9
3.5
3:9
3. 7
3.1
3.3
3.8
3.2
3.7
3.4
2.9
2.5
2.8
3.8
2.8
3.3
3.5
2.3
3.0
3.5
2.8
3.4
3.0
2.8
4.4
4.0
4. 1
5.0
4.8
4.5
3.7
3.6
3.5
3.5

5
Monthly Averages of Dally Figures
In billions of dollars, seasonally adjusted

MRMBF.R RRSF.RVFS

Period

Total

1959--Jan.
Feb.
Mar .
Anr.
May
June
July
Aug.
Sjpt.
Oct.
Nov.

18.26
18.37
18.30
18.42
18.43
18.26
18.37
18.40
18.33
18.25
18.21
18.20

17.64
17.83
17.64
17.80
17 .67
17.35
17.43
17.44
17,42
17.35
17.34
17.33

18.19
18.02
17 .94
17.94
18.10
18.12
July 18.22
Aug. 18.29
Sept. 18.43
Oct. 18.48
Nov. 18.62
Dec . 18.53

17.30
17 .18
17.26
17.32
17.61
17 .71
17.85
18:05
18.21
18.32
18.46
18.46

Dec .

1960--Jan.
Feb.
Mrr .
Apr.
May

1961--Jan. 18.60
Feb. 18.75
Mar . 18.71
Apr. 18.72'
18.70
May
18.83
July 18.74
Aug. 19.02
Sept. 19.09
Oct. 19.26
Nov. 19.40
Dec. 19.29

borrowec Required

18.51
18.59
18.61
18.62
18.62
18.79
18.71
18.99
19.05
19.18
19.28
19.20




17.79
17.91
17.83
18.04
17.94
17.83
17.95
17.95
17.91
17 .77
17 .78
17.76
17.72
17.56
17.48
17.52
17.59
17.63
17.69
17.76
17.79
17.83
17.89
17.81
17.92
18.09
18.11
18.09
18.11
18.20
18.14
18.43
18.51
18.74
18.80
18.81

DEPOSITS SUBJECT TO IESEIVE REQUIREMENTS
Time &
Private Demand ,
• US Gov't.
Savings
Net
Total
Other
Demand
Interbank

Total

157.2 53.8
158.0 53.9
157.6 53.9
158.9 54.1
158.7 54.3
157.8 54.4 „
159,1 5 4 . /
158.9 5(/4
158.9 y$4.3
158.1, '• 54.3
158,1 54.3
157,9 54.4

99.6
99.8
100.1
100/3
100.6
100.5
101.0
100.4
100.0
99.7
99.6
98.8

6.6
6.6
6.7
6.6
6.6
6.5
6.5
6.4
6.5
6.5
6.4
6 .5

93.0
93.1
93.4
93.7
94.0
93.9
94.5
94.0
93.5
93.2
93.1
92.3

157.3
156.2
155.8
155.8
156.6
156.7
158.1
159.0
159.7
16613- k
161.3
161.3

98.7
98.3
97.9
97.8
97.4
97.2
97.6
97.9
98.1
98.2
97.9
98.1

6.5
6 .4
6.3
6.4
6 .4
6.5
6.6
6 .7
6.7
6.8
6.8
6.8

92.3
91.8
91.6
91.4
91.0
90.7
91.0
91.2
91.4
91.3
91.1
91.2

5.3
5.1
4.8
5.0
5.3
4.4

91.4
91.9
92.2
92.4
92 .7
92.9
92.9
93.1
93.4
93.7
93.9
94.2

4.5
4.8
4.3
3.7
3.4
3.2
3.1
4.2,
4.5
5.5
5.3
4.7

2
&
>
&

-

I

162.2
164.3
164.9
165.1
166.1
166.9
167.6
169.7
170.9
173.0
173.«
174.1

54.1
53.8
53.7
54.0
54.1
54.5
55.1
56.0
56.7
57 .4
58.1
58.8
59.4
60.6
61.3
62.1
63.0
63.7
64.6
65.3
66.0
66.c
67.4
67.9

98.3
98.8
99.3
99.4
99.8
99.9
100.0
100.2
100.4
100.8
101.1
101.6

6.9
7.0
7.1
7.0

7.1
7.1
7.1
7.1
7.0
7.1
7 .2
7 .4

3.7
4.4
3.7
4.5
3.8

.

3.r,

3.7
4.1
4.6
4.2
4.3
4.7
4.5
4.2
4.1
4.0

!
:
C

5.0
5.0

;
:

v—
^
;
;
!

'
,
•

Monthly Averages of Daily Figures
In billions of dollars, seasonally adjusted

MEMBER RESERVES
Period
1962--Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept
Oct.
Nov.
Dec .

Total

borrowed

DEPOSITS SUBJECT TO RESERVE I
REQUIREMENTS
US Gov't.
Private Depend
Time &
Net
Demand
Savings
Interbank

Required

Total

19.33
19.34
19.44
19.54
19.64
19.68
19.69
19.72
19.72
19.85
19.91
19.95

19.22
19.27
19.30
19.44
19.60
19.60
19.60
19.63
19.64
19.77
19.77
19.71

18.77
18.84
18.92
19.01
19.10
19.13
19.14
19.18
19.27
19.35
19.36
19.47

174.5
176.0
177.3
178.6
180.0
180.9
181.6
182.1
133.6
135.2
185.6
187.4

68.7
70.1
71.3
72.5
73.2
74.2
75.2 ,
75.9/
76 J
77.9
78.8
80.1

101.3
101.2
101.2
101.3
101.1
101.1
101.1
101.0
ion.8
101.1
101.4
101.8

7.4
7.2
7.3
7.3
6.9
6.9
6.9
6.9
6.9
7 .0
7.'i
6.9

93.9
94.0
93.9
, 94.0
94.2
94.2
94.1
94.1
94.0
94.1
94.3
94.9

4.5
4.7
4.7
4.8
5.7
5.7
5.3
5 .2
6.0
6.2
5.4
5.5

1963--Jan. 20.01
Feb. 20.11
Mar. 20.14
Apr . 20.16
May 20.26
June 20.23
July 20.42
Aug. 20.38
Sept 20.42
Oct. 20.38
Nov. 20.46
Dec . 20.64

19.85
19.94
19.96
19.98
20.05
20.01
20.09
20.06
20.10
20.07
20.19
20.32

19.56
19.63
19.65
19.70
19.76
19.80
19.93
19.93
20.01
19.97
20.07
20.21

189.0
190.0
190.9
192.0
193.1
194.3
195.6
196.5
197.7
198.3
200.1
201.5

81.1
82.1
83.1
84.1
85.0
85.8
86.8
88.1
89.0
90.2
91.4
92.4

102.3
102.3
102 .4
102 .6
102.7
102.8
103.2
103.2
103.4
103.7
104.5
104.3

7.1
7.0
7.0
6.9
7.0
7.0
7.0
6.9
7.0
7.0
7.0
7.1

95.2
95.3
95.5
95.7
95.7
95.8
96.2
96.3
96.4
96.8
97.5
97.1

5.6
5.6
5.4
5.3
5.5
5.6
5.6
5.2
5.3
4.4
4.2
4.8

20.66
20.69
20.85
20.88
20.84
21.07
21.08
July
Aug. 21.26
Sept. 21.44
Oct. 21.44
Nov. 21.53
Dec. 21.50

20.35
20.38
20.59
20.62
20.58
20.82
20.81
20.96
21.10
21.13
21.23
21.24

20.26
20.32
20.43
20.47
20.45
20.64
20.68
20.88
21.01
21.05
21.16
21.20

104.4
104.6
104.7
104.9
105.0
105.1
105.8
106.3
106.9
107.1
107.3
107.4

6.9
6.9
7.0
7.1
7.0
7.0
7.2
7 .3
7.4
7 .4
7 .4
7.4

97.5
97.7
97.8
97.8
98.0
98.0
98.6
99.0
99.5
99.7
99.8
99.9

4.9
5.1
5.4
5.3
4.8
5.8
4.8
5.2
5.5
4.9
5.8
5.3

1964--Jan.
Feb.
Mar.
Apr.
May




93.5
202 .8
94.3
204.0
94.9
205.1
206.0
95.8
206.6
96.3
208.7
97.8
209.3
98.8
211.3
99.7
213.1 100.7
213.9 101.9
216.1 103.0
217.0 104.2

Monthly Averages of Daily Figures
In billions of dollars, seasonally adjusted

MEI4BER RESERVES
Period

1965--Jan.
Feb.
Mar.
Apr.
May
July
Aug.
Sept.
Oct.
Nov.
Dec.
1966—Jan.
Feb.
Mar .
Apr.
May
July
Aug.
Sept.
Oct.
Nov.
Dec.
1967--Jan.
Feb.
Mar.
Apr.
May
July
Sept.
Oct.
Nov.
Dec.

Total

NonRequired
^borrox»e<

DEPOSITS SUBJECT TO RESERVE REQUIREMENTS
US
Private Demand
Time &
Gov't
Net
/
Other
Savings Total
Demand
Interbank

Total

106.0
107.5
108.7
109.9
111.1
112.4
113.9
115.5
117. y
118.6
126.0
>51.2

21.64 ' 21.28
21.83
21.42
21.92
21.50
22.07
21.57
22.14
21.63
22.27
21.74
22.32
21.77
22.36
21.86
22.30
21.79
22.43
21.97
22.46
22.03
22.64
22,15

21.26
21.40
21.51
21.65
21.75
21.88
21.90
21.97
21.94
22.09
22.14
22.31

218.4
220.7
222.5
224.2
225.8
227.7
229.1
230.4
231.4
233.3
234.8
236.6

22.79
22.86
22.89
23.12
23.19
23.15
23.29
23.03
23.07
22.95
22.92
22.90

22.33
22.38
22.33
22.49
22.49
22.47
22.55
22.34
22.32
22.24
22.30
22.29

22.46
22.51
22.51
22.71
22.77
22.78
22.86
22.71
22.69
22.63
22.59
22.60

238.0 ' 121.8 111.7
121.9 112.1
239.0
122.8 112.6
239.8
124.8 113.2
241.9
126.2 113.1
243.9
113.2
244.2
126.6
128.1 112.6
245.8
128.8 112.3
245.6
129.2 112.4
245.5
128.6 111.7
244.4
128.3 111.6
244.0
244.6
129.4 111.7

7.7
7.7
7.9
7.9
8.0
8.1
8.3
8.0
7.9
7.8
7.9
7.9

23.22
23.47
23.87
23.91
23.95
24.11
24.34
24.63
24.79
25.1.2
25 . 28
25.15

22.77
23.11
23.67
23.78
23.87
23.98
24.28
24.59
24.72
25.02
25.14
24.85

22.88
23.13
23.38
23.53
23.53
23.66
23.96
24.26
24.45
24.81
24.95
24.91

131.5 111.4
247.7
251.0
133.3 112.6
254.0
135.3 113.6
255.8
137,2 113.0
257.2
138.7 114.5
259.5
140.8 116.0
262.4 ' 142.8 116.7
144.6 117.5
266.1
146.3 117.6
268.4
147.4 118.2
270.8
148.6 118.7
272.9
273.21
149.9 118.6

7.9
8.1
8.0
8.5
8.3
8.8
8.6
8.7
8.7
8.7
8.7
8.7




107.31
107.5 y/7 .5
107.7 / 7 . 6
7.6
107.9
7.5
107/8
106.3
7.7
7.6
#8.6
/
108.8
7.6
109.6
7.8
110.1
7.7
110.5
7.7
111.0
7.7

99.8
99.9
100.1
100; 3
100.3
100.6
101.0
101.2
101.8
102.5
102.8
103.3

5.1
5.7
6.1
6.4
6.9
7.0
6. 6
6.2
4.8
4.5
4.3
4.4

104.0
104.3
104.7
105.3
105.1
105.1
104.-3
104.3
104.4
103.9
103.8
103.9

4.5
5.0
4.4
4.0
4.6
4.4
5.1
4.5
4.0
4.0
4.1
3.5

103.5
104.5
105.5
104.5
106.2
107.2
108.1
108.8
108.8
109.5
110.0
109.9

4.8
5.1
5.1
5.6
4.0
2.6
2.9
4.0
4.5
5.2 .
5.6
4.6

;

:

'
:
:

Monthly Averages of Daily Figures
In billions of dollars, seasonally adjusted

MEMBER RESERVES
Total
25.50
25.77
25.81
25.62
25.71

borrowed
25.19
25.40
25.14
24.94
24.98




Required

DEPOSITS SUBJECT TO RESERVE REQUIREMENTS
Private Demand
Time &
Savings T ° t a l l Interbank! 0 t h e r

25.15
25.39
25.40
25.28

274.7
277.0
278.0
276.9

149.9
150.2
151.2
151.3

119.4
119.7
120.1
120.4

8.8
9.0
9.0
8.9

25.24

277.3

151.5

122.1

9.4