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......... . ·;Qo'~ot.,;·. .• ---------- :"~ ~··.- .· ~.; ~~r~~ J..~- FEDERAL RESERVE statistical release ·~ ~"'· "• ?~-'t4tllE'>~~-. • . .... , ,..,.., H-3111111 APRIL AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND THE MONETARY BASE 111, 1988 1 Adfueted lor c:lwlgM In NqU'-18 A--..- of dllllr,....... - ' l r edjueted unten noted OCiwwlle MHIIone ol dOIWa Dete 1987-IIU. lPL Ill JUU JULI lUG.. SBPr. ocr. lOY. DBC. 1988-JU. raa. Ill B. p tot... ......_ of depoellory lnetltutlone requiNCI IICiflbonoftd plua -lllcltnlwM extended cNdlf' 56,325 56,961 56,589 57,231 57,604 57,203 57,121l 57,360 57,294 58,003 57,756 57,142 55,936 57,127 57,273 56,516 56,841 56,8114 57,032 57,368 57,064 56,1l07 57,234 58,043 56,867 58,139 58,721 58,980 -- Monel.,__. Hs.t.• lorrowlnge of depoeltory lnetttutlone from the Federal ....._ HSA extended cNdll" total 916 827 1,079 1,190 761 1,032 793 1,129 923 1,029 244,349 246,526 2118,2311 248,1181 2119,511 250,997 252,252 2511,564 256.,025 256,684 993 1,035 716 672 6117 940 943 625 57,606 58,2118 58,346 57.,021 57,306 57,690 1.,295 1,133 928 260,245 261,259 262,395 57,602 56,797 57,857 58,1182 57,173 57,803 966 918 56,163 58,657 58,076 904 56,852 57,954 58,352 57,706 57,602 57,876 57,825 58,1196 57,987 57,1136 56,930 56,929 57,229 56,885 57,553 57,362 56,658 58,316 58,439 58,619 51,311 521 -~~~~· 91 264 270 288 117 120 196 259 283 279 231 189 126 93 194 132 1109 11119 3911 483 1,082 396 1,752 59 75 119 372 205 1,1178 260,5211 262,645 537 1,924 111 123 255 1,685 264,065 2,817 122 2,11911 213 TIO IJIUS BIDIIG ----- 1988-BlL. lPB. 9 23 6 p P---PBBLIIIIIlBY PE--PRELIBIIlBY ESTIAlTE 1/ BBSBBYBS liD BOIETlBY BlSB FIGURES IICORPORlTE lDJUSTBEBTS FOR DISCOBTIIUITIES lSSOCIITED liTH TBI IftPLBIIBITITIOB OP THE IOIBTlBI COITROL ICT liD OTHER REGULATORY CHliGBS TO RBSBBfB RBQUIRBIIBITS. TO ADJUST FOR DISCOITIIUITIBS DUB TO CBliGBS 11 BBSBRfB IBQDIIEftEITS 08 BBSBRflBLB IOIDBPOSIT LilBILITIBS, THB SOB OP SUCH REQUIRED BBSBifES IRE SUBTI&CTBD FROB THE ACTUAL SBBIIS. SIRILIBLI, II IDJUSTIIG FOB DISCOBTIIUITIBS II THE ftOIBrlRI BASE, RBQUIRBD CLElRIIG BlLliCBS liD lOJOSTftBBTS TO CORPBMSlTB POl FLOAT ALSO ARB SUBTRlCTBD FROB TBB ACTUAL SBBIES. 21 TOTAL IBSBBfBS lOT lDJUSTBD FOB DISCOBTIIUITIES COISISTS OF BESEBfE BlLIICBS IITB PBDEBlL RBSBBfE BilKS (IBICH BXCLUDB BBUUIBBD CLBlBIIG BILliCES lBD lDJOSTRBITS TO COBPBISlTB FOB FLOAT) PLUS fAULT ClSB OSBD TO SATISFY BBSBifB BBQOIBBRBITS. SUCH fAULT ClSB COISISTS OF ILL fAULT CASH BBLD DOBIIG TBB LAGGED CDftPUTITIDI PERIOD BY IISTITUTIOIS HlfiBG REQUIRED BBSBRYI BILliCBS IT PBDBRAL RESBifE BillS PLUS THE AIOUIT OP fAULT ClSft BQUIL TO REQUIRED RESBRYBS DUHIBG THB RltBTBiliCB PERIOD lT INSTITUTIOIS HlYIIG NO REQUIRED RBSERYB BALANCES. l/ BITBRDBD CRBDIT COISISTS OF BORBOIIRG IT TUB DISCODIT IIBDOW UIDBR TftB TEBBS &BD COBDITIOIS BST&BLISHBD POl THE EXTBIDED CREDIT PBOGRIR TO HELP DEPOSITORY IRSTlTUTIOIS DBlL liTH SUSTliBED LIQOIDITI PRESSURES. BBClUSB THBRB IS lOT THB SABE IEED TO BEPII SUCH BORROIIIG PROIPTLY AS THEBE IS WITH TUDITIOUL SBORT-TBBft lDJUSTftBIT CREDIT, THB BOBBY BlBKBT IftPlCT OP BXTBIDEO CREDIT IS SIRILlR TO THAT OP ROIBORROWBD RESBRYBS. Ill BBSBRYB BlLliCBS WITH FEDERAL RESERVE Bli~S PLUS fAULT CASH USED TO SATISFY BESEBYB BBQUIBBBEITS LESS RBQUIRED RESEBfES. 51 THE BOIBTARI BlSB BOT ADJUSTED FOR DISCOJTIRUITIBS COJSISTS OP TOTAL RESBRfES PLUS BBQUIRBD CLBliiiG BlLIICBS liD ADJUSTftBITS TO COIIPEISlTB FOR FLOAT lT FEDBBlL liESBiifE Bli~S PLUS THE CUBREICI COftPOIBIT OP THE BOlEY STOCK PLUS, FOR IBSTITUTIOBS BOT HlYIIG REQUIRED BBSBBfB BlLliCES, THE EXCESS OF CURRBIT fAULT CASH OYER THE AftOUJT APPLIED TO SATISFY CURREIT RESERVE RBQDIBEftEJTS. lPTBB THE IRTRODUCTIOR OP CCR, CURRERCI liD VAULT CASH FIGURES ARB REASURED OYER THE ftOJDli-EBDIRG COftPUTlTIOI PERIOD. THE SElSOilLLI ADJUSTED RDRETlRY BlSB COISISTS OF SBlSOilLLY lDJUSTBD TOTAL RESERVE. (IHICH IICLUDES BICESS RESBBfES 01 l lOT SElSOJlLLY ADJUSTED BASIS) PLUS THE SBlSOilLLI ADJUSTED CURRBRCI COftPOBBIT OF THE BOREl STOC~ PLUS THE RERliiiiG ITEBS SElSOJlLLY ADJUSTED IS l 8HOLB. IOTE: HISTORICAL DATI lHE lYAILlBLE FROB THE ftOREY liD RESERfES PROJECTIOIS SECTIOI, DifiSIOR OP ftOIETlRI lPPliRS, BOARD DP GOYBRIORS OP THE FEDERAL RESERVE SJSTEft, WlSHtRGTOR, D.C. 20551 H.3 (!102) . Table 2 AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND THE MONETARY BASE ~ l\lo(!!_d]usted torschanges. ill. ~e~~eguirE!menta A-ages of dally figures,: not season all~ adjuste Millions of dollars Monetety base~ Date total non borrowed required total required surplull carryover of excess or deficit In resel'ft ----------------------4---------~~---------r----------+---------~----------~-----------t-~r~es=e~N~es~• --~---------+ 1987--I&L APL lUI JUIB JULI lUG. SIP!. ocr. JOY. DB C. 1988-JlJ. . FIB. JilL p 57,061 59,393 58,339 58,781l 58,838 58,361 59,813 61,106 61,205 62,123 56,534 58,400 58,008 58,166 57,7111 58,873 60,163 60,580 61,346 56,146 58,566 57,260 57,5911 58,018 57,329 59,020 59,917 60,282 61,094 244,978 249,241 249, 91t0 252,539 251t,671 254,360 255,691 258,076 261,674 266,161 35,318 37,807 36,466 36,309 36, 110 35,616 36,685 37,21f9 37,453 62,640 60,047 60,067 61,558 59,650 58,316 61,345 58,914 59,139 59,573 60,091 59,036 58,167 60,583 57,766 51,303 31,613 23,765 23,31l8 23,681 24,369 24,613 24,644 24,851l 25,587 25,1l31 26,155 21,743 21,587 21,873 22,475 l l , 728 22,71t5 23,128 23,857 23,752 24,449 2,022 1, 762 1,808 1,893 1,885 1,899 1, 726 1,730 1,679 1,706 265,789 262,598 263,970 37,485 34,211 36,020 26,919 28,119 25,926 25,155 25,836 24,047 1,764 2,283 1,879 58,607 59,173 262,450 264,141 35,575 35,759 25,987 26,224 23,998 24,332 '· 989 1,892 .152 31 59,680 265.382 36,979 25,336 23,6011 1,732 76 1'10 UBKS BJDUG ------1988--lllL API. 9 23 6 p P--PIBLIIIJAIJ PI--PIBLIIIIAIJ ISt'lllt'B. 11 BBFLBCfS lCfUlL IBSBIYB BBQUIRBIEITS, liCLUDII~ THOSE 01 IOJDBPOSIT LllBlLITIBS, IITB 10 ADJOSTBBITS TO ELIIIIIATB 1'81 BPFECTS or DISCOITIJUITIES ASSOCIATED 1118 lBPLBIIBITATIOI OP THE BOJ!TlRY COITROL ACT OR OTHER RBGOLATOBI CHliGBS 1'0 IBSBRYB BBQUIBBIBITS. 2/ COJSISIS or TOTAL RBSBBYBS PLUS RBQUIIBD CLBliiiG BlLliCBS liD lDJOSIBEITS TO COBPBISATB POl FLOAT lT PEDBIAL RBSEBYB BAlKS PLUS TBE CURBBICJ COBPOIBIT or THE !0111 STOCK LBSS THE lBOUif or fAULT CASH HOLDIIGS or TBRlrt' IISTITOTIOIS THAT IS IICLUDBD II TBB CORIBICJ COIPOIBIT or THE lOIII STOCK PLUS, roa liSTITUTIOIS lOT BAfiiG BEQOIBBD RBSBBfB BlLliCES, TRB BICBSS 01 CUBBBIT YlOLT ClSB OfBB fBI liOUIT lPPLIBD TO SlTISPJ CUIBIIT RBSBRfB RBQUIREBENTS. lPTBB TRB IITRODUCTIOI OP CBR, CUIRBICI liD flOLT CASH FIGURES ABE ftElSUBED OYER THE BOIDAI-BIDIIG COftPUTATIOI PERIOD. l/ BlCLUDBS BEQUIBBD CLBlBIIG BlLliCES liD lDJUSTftBITS 1'0 COftPBJSlTB rOR FLOAT. 4/ DATES RBPBB TO t'HB llliiTEiliCE PERIODS IN WHICH THE fAULT CASH CAl BB USED TO SlTISPI RBSBRfl BBQUIIBIBITS. OlDER CORTIIPORliBOUS RBSBBYI BEQOIRBftEITS, ftAIITBIAICE PERIODS BID 30 DAIS APTER THE LAGGED COftPOTATIOI PIBIODS 11 NBlCB TBB BlLAICES liB HELD. 51 BQOlL TO ALL fAULT ClSB HELD DORIIG THE LAGGED CO!PUtATIOJ PERIOD Bl IISTITOTIOIS HlfiJG REQUIRED BBSIBfl BALAJCES lT PIDBRlL RISBBfB BAlKS PLUS THE lBOONT OP flULt CASH EQUAL TO REQUIRED BESERfBS DURIIG THB ftAIJTBIANCE PERIOD AT IISTITUTIOIS HAYIIG 10 REQUIRED BESBRYB BALliCES. 5/ TOTAL YlULT CASH 11 IISTITUTlOIS HAYING HO RBQUIRBD RESBRfB BlLAICES LESS TBB AftOUIT OP YAULT CASH EQUAL TO THEIR RBQOIRBD BBSIBYBS DORIIG THE IAIJTEiliCE PERIOD. 11 CONSISTS or CABRIOfBB OIL! lf DEPOSITOR! INSTITOTIORS BliiTAINIJG RESERfES ON THB BASIS OE TWO-VBEK ftliiTBIAJCB PERIODS •. REFLECTS BlCESS (+) OR DEFICIT (-) RESERYBS ELIGIBLE TO BE CARRIED FORWARD liTO THE TWO-WEEK RESERVE ftliNTBIAHCE PERIOD BIDING ON THE DATE SHOWN. H.3 (502) Table 3 AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND THE MONETARY BASE Adjusted for changes in reserve requirements 1 Averages of daily figures, not seasonally adjusted Millions of dollars Date total Reserves of depository institutions nonborrowed Monetary base required 1987--KAB. APB;. KAY JUME JULI lUG. SEPT. OCT. NOV. DEC. 56,068 58,372 57,299 57,625 .57, 743 57,390 57,496 58,037 58,093 58,965 SS,51i1 57,379 56,264 56,849 57,071 56,743 56,556 57,094 57,468 58,188 55,152 57,544 56,221 56,435 56,983 56,358 56,703 56,909 57,110 57,936 241,925 24b,066 246,832 249,28b 251,424 ;l51,420 251,603 253,287 256,821 261,214 1988--Jlll. FEB. bO, 170 57,646 57,803 59,089 57,250 56,051 58,875 56,513 56,874 261,202 258,193 259,923 51,232 57,819 56,695 55,895 56,266 56,900 258,079 260,199 58,418 55,601 57,514 261,516 flAil. p TiiO WEEKS EMDUIG -------------1988--KAB. !j 23 .&PB. 6 p P---PBELI!UNAJlY PE--PBELIKIMABY ESTIMATE. 1/ FlGUHES REFLECT ADJUSTMENTS FOR DlSCONTlNOITlRS ASSOCIATED WITH THE IMPLEftENTATIOII OF AID OTHER REGULATORY CHAHG£5 TO RESERVE REQUiiEKEBTS. TH~ ftON~TAiY CONTROL ACT
@FedFRASER