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FE^gt^AtJESERVE statistical release
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CORRECTED COPY
H.3 (502)
Table 1
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For Immediate Release
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APBIL 12, 1983
AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND MONETARY BASE
Adjusted for changes in reserve requirements1
Averages of daily figures
Reserves of depository institutions
Period
total2
nonborrowed I
required
millions of dollars
seasonally adjusted
Monetary base3
billions of dollars
Reserves of depository institutions
total 2
nonborrowed
required
millions of dollars
not seasonally adjusted
Monetary base3
billions of dollars
38,504
38,575
38,523
38,804
39,566
39,875
40,458
40,891
36,801
36,865
37,387
37,370
37,832
38,289
38,632
39,398
39,837
40,257
37,994
38,160
38,145
38,266
38,210
38,492
39,182
39,471
40,056
40,391
165.3
166.4
167.7
168.6
169..1
170.2
171.8
172.. 9
174.0
175-2
37,799
38,330
38,189
38,069
38,434
38,512
39,353
39,997
40,679
41,572
36,244
36,762
37,071
36,864
37,743
37,996
38,420
39,519
40,058
40,938
37,437
38,057
37,830
37,761
38,120
38,199
38,969
39,592
40,277
41,072
163.3
165.6
167. 1
168-2
170.0
370-4
171«4
172.. 9
175-1
178.. 4
40,955
40,462
40,735
40,425
39,880
39,942
40,408
40,037
40,307
177.1
177.6
179.3
42,253
40,229
40,167
41,723
39,647
39,375
41,706
39,804
39,740
177., 3
175-4
177„0
1982—MARAPB.
MAY
JUNE
JULY
AUG.
SEPT.
OCT.
NOV.
DEC-
38,356
1983—JAN.
FEB.
MAB- P
38^33
WEEK ENDING:
1983—MAJU
2
9
16
23 P
30 P
40,811
40,367
40,501
41,024
40,963
40,101
39,741
39,611
40,383
40,067
40,292
39,899
4 0 , 110
40,704
40,509
178-5
178.5
178.9
179.7
180-1
40,292
39,548
40,005
40,5111
40,548
39,582
38,922
39,115
39,870
39,652
39,773
39,080
39,614
40,191
40,094
175*2
176*9
177-2
177-2
177.0
APB.
6 P
41,165
39,398
40,391
180.1
40,318
38,551
39,544
179-4
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3/
RESERVE AGGBEGAIES INCLUDE BEQUIBED RESERVES OF MEMBEB BANKS AND EDGE ACT COBPOBATIONS AND CTHEE DEPOSITORY
INSTITUTIONS. DISCONTINUITIES ASSOCIATED KITH THE IMPLEMENTATION OF THE MONETARY CONTROL ACT, THE INCIOSICN
OF EDGE ACT COBPOBAIION BESEBVES, AND OTHER CHANGES IN BEGULATION D HAVE BEEN REMOVED. BEGINNING KITH THE
MEEK ENDED DECEMBEB 23, 1981, RESERVES AGGBEGATES HAVE BEEN REDUCED BY SHIFTS OF BESERVABLE LIABIIITIES TO
INTERNATIONAL BANKING FACILITIES (IBFS) . ON THE BASIS OF REPOBTS OF LIABILITIES TBANSFEBBED TO IBFS BY U.S.
COMMEBCIAL BANKS AND U.S. AGENCIES AND BBANCHES OF FOBEIGN BANKS, IT IS ESTIMATED THAT BEQUIBED BESEBViiS WERE
LOWERED ON AVEBAGE BY $10 TO $20 MILLION IN DECEMBEB 1981 AND $40 TO $70 MILLION IN JANUABY 1982.
RJESEBVE BALANCES J*ITH FEDERAL RESERVE BANKS {WHICH EXCLUDE BEQUIBED CLEABING BALANCES) PLUS VAULT CASH AT
INSTITUTIONS WITH BEQUIBED BESEBVE BALANCES PLUS VAULT CASH EQUAL TO REQUIRED BESEBVES AT OTHER INSTITUTIONS.
INCLUDES BESEBVE BALANCES AND REQUIRED CLEAfiING BALANCES AT FEDEBAL RESERVE BANKS IN THE CURRENT WEEK PLUS
VAULT CASH HELD TWO WEEKS EABIIEB USED TO SATISFY RESERVE REQUIREMENTS AT ALL DEPOSITORY INSTITUTIONS PLUS
CUBBENCY OUTSIDE THE U.S. TBEASUBY, FEDEBAL RESERVE BANKS, THE VAULTS OF DEPOSITORY INSTITUTIONS, AND
SURPLUS VAULT CASH AT DEPOSITORY INSTITUTIONS.
NOTE: HISTORICAL DATA ABE AVAILABLE FBOM THE BANKING SECTION, DIVISION OF BESEARCH AND STATISTICS,
BOABD OF GOVEBNOBS OF THE FEDEBAL BESEBVE SYSTEM, WASHINGTON, D.C 20551-
H.3
Table 2
AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS
Not adjusted for changes in reserve requirements
Average of daily figures, not seasonally adjusted
Reserves of depository institutions1
total2
Period
nonborrowed
required
Monetary
base3
millions of dollars
39,235
39,557
39,550
39,565
39,967
40,178
39,962
40,587
41,199
41,853
37,680
37,989
38,433
38,360
39,275
39,662
39,028
40,fl09
40,578
41,219
38,873
39,284
39,191
39,257
39,653
39,866
39,578
40,182
40,797
41,353
165.4
167.6
169.2
170.4
172.3
172.8
172.3
173.8
176.0
179.3
41,862
39,787
38,033
41,333
39,205
37,241
41,316
39,362
37,606
177.9
176.0
175.9
23 P
30 P
39,827
37,341
37,760
38,218
38,291
39,117
36,715
36,870
37.577
37#395
39,308
36,873
37,369
37,898
37,837
175.8
175.7
176.0
176.0
175.9
6 P
38,091
36,324
37,317
178.3
1982—MAR.
APR.
MAY
JUNE
JULY
AUG.
SEPT.
OCT.
NOV-
DEC
1983 —JANFEB*.
MAR. P
WEEK ENDING:
1983—MAB.
2
9
16
APB.
1/
2/
3/
RESERVES OF DEPOSITORY INSTITUTIONS SERIES BEFLECT ACTUAL RESERVE REQUIREMENT PERCENTAGES WITH NO ADJUSTMENTS TO ELIMINATE THE EFFECT OF CHANGES IN REGULATION D, INCLUDING CHANGES ASSOCIATED WITH THE IMPLEMENTATION OF THE MONETABY CONTBOL ACT. INCLUDES REQUIRED RESERVES OF MEMBER BANKS AND EDGE ACT CORPORATIONS
AND, BEGINNING NOVEMBER 13, 1980, OTHEB DEPOSITORY INSTITUTIONS. UNDER THE TRANSITIONAL PHASE-IN PROGRAM
OF THE MONETARY CONTROL ACT OF 1980 AND PROVISIONS OF THE DEPOSITORY INSTITUTIONS ACT OF 1982, THE NET
CHANGES IN REQUIRED RESERVES OF DEPOSITORY INSTITUTIONS HAVE BEEN AS FOLLOWS: EFFECTIVE NOVEMBER 13, 1980,
A REDUCTION OF $2.9 BILLION; FEBRUARY 12, 1981, AN INCREASE OF $245 MILLION; MARCH 12, 1981, AN INCREASE
OF $75 MILLION; MAY 14, 1981, AN INCREASE OF $245 MILLION; SEPTEMBER 3, 1981, A REDUCTION OF $1.1 BILLION;
NOVEMBER 12, 1981, AN INCREASE OF $210 MILLION; JANUARY 14, 1982, A REDUCTION OF $60 MILLION; FEBRUARY 11, 1982
AN INCREASE OF $170 MIILION; MABCH 4, 1982, AN ESTIMATED REDUCTION OF $2.0 BILLION; MAY 13, 1982, AN ESTIMATED
INCREASE OF $150 MILLION; AUGUST 12, 1982, AN ESTIMATED INCREASE OF $140 MILLION; SEPTEMBER 2, 1982, AN ESTIMATED
REDUCTION OF $1.2 BILLION; OCTOBER 28, 1982, AN ESTIMATED REDUCTION $\00 MILLION; DECEMBER 23, 1982, AN ESTIMATED
REDUCTION OF $800 MILLION; AND MARCH 3, 1983, AN ESTIMATED REDUCTION OF $2.1 BILLION. BEGINNING WITH THE WEEK
ENDED DECEMBER 23, ,1981, RESERVE AGGREGATES HAVE BEEN REDUCED BY SHIFTS OF RESERVABLE LIABILITIES TO INTERNATIONAL
BANKING FACILITIES (IBFS). ON THE BASIS OF REPORTS OF LIABILITIES TRANSFERRED TO IBFS BY U.S. COMMERCIAL BANKS AND
AND AGENCIES AND BRANCHES OF FOREIGN BANKS, IT IS ESTIMATED THAT REQUIRED RESERVES WERE LOWERED ON AVERAGE BY $60
TO $90 MILLION IN DECEMBEfi 1981 AND $180 TO $230 MILLION IN JANUARY 1982, MOSTLY REFLECTING A REDUCTION IN RESERVABL
EUROCURRENCY TRANSACTIONS.
RESERVE BALANCES WITH FEDERAL RESERVE BANKS (WHICH EXCLUDED REQUIRED CLEARING BALANCES) PLUS VAULT CASH AT
INSTITUTIONS WITH REQUIRED BESERVE BALANCES PLUS VAULT CASH EQUAL TO REQUIRED RESERVES AT OTHER INSTITUTIONS.
INCLUDES RESERVE BALANCES AND REQUIRED CLEARING BALANCES AT FEDERAL RESERVE BANKS IN THE CURRENT WEEK PLUS
VAULT CASH HELD TWO WEEKS EARLIER USED TO SATISFY RESERVE REQUIREMENTS AT ALL DEPOSITORY INSTITUTIONS PLUS
CURRENCY OUTSIDE THE U.S. TBEASURY, FEDERAL RESERVE BANKS, THE VAULTS OF DEPOSITORY INSTITUTIONS, AND
SURPLUS VAULT CASH AT DEPOSITORY INSTITUTIONS.
@FedFRASER