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FEDERAL RESERVE statistical release For H.3 (502) Table 1 - a t •:30 Eastern Time APRIL 16, 191H AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND THE MONETARY BASE Adjusted for changes In ....,... requirements' A-ages of dally figures, - l l y adjusted unless noted otherwise Millions of dollars R e - of depository lnatltutlons Monetary baae1 Borrowings of depository Institutions from the Faderal Reserve, NSA extended credl total seasonal total nonborrowed nonborrowed plus extended credit' required 1981>--l!Aii. APR. !lAY JUNI:: JULY AUG. SEPT. OCT. NOV. DEC. 4&,865 47,282 48,577 49,445 50,489 51,318 51,809 5:.t,II01 53,823 55,&38 46,104 46,390 47,701 48,1>42 49,7118 50,446 50,801 51,559 53,071 511,811 46,622 47,0:.!4 48,285 49,172 50,126 50,911 51,371 52,056 53,489 55,114 45,968 46,481 47,739 48,5111 11!1,579 50,579 51,083 51,655 52,845 511,269 896 80 I 838 931 910 7110 726 7116 978 1,369 221,337 222,346 224,880 226,637 228,36.$ 230,599 231,691 233,1161 236,067 238,8411 761 8!13 876 803 741 872 1,008 841 75:.t 827 68 13 911 108 116 1411 137 !19 70 38 518 634 584 531 378 1165 570 497 418 303 198 7--JA N. FEB. KAR. PE !>6,640 56,488 56,..!63 5&,01>0 55,932 55,735 56,285 56,215 55,999 55,572 55,277 55,3J9 1,068 1,211 923 2112,017 2113,1151 2113,918 580 55o 527 Jll 71 91 225 283 264 56,02J :.6,3118 55,558 55,11.21 55,8J3 56,UdJ 55,062 55,363 961 986 243,557 2411,122 116& 528 83 96 275 263 56,502 55,cHi1 :>&,109 55,793 708 244,103 bill 98 2118 Date excess NSA4 TIIO liEEKS EIIDIIIG --------1987-IIAR. APR. 11 25 p 8 PE P---PREL I III II AllY PE--l?&ELI III II ABY ESTill ATE 1/ liESEBVES AND IIOIIE'1'Aiil BASE PlGUiiES lliCOiiPORA'1'6 ADJUST!EIITS FOR DlSCOIITIIIUlTIBS ASSOCIATED WITI! THE IIIPLEIIEBTATlOII OP THE liOiiETARY COIITROL ACT ABU OTHER REGULATORY CHANGES TO RESEiiVE HEQUIBEIIEIITS. TO ADJUST FOB DISCOITIBUITIES DUE TO CHAIGES II lii::SEBYB B~UUIBE!EITS 011 RESEBVABLE NOHUEl?OSlT LIABILITIES, THE SOB OF SUCH BBUUIRED BBSEBVES ARE SQBTBACTED !'BOll THE ACTUAL SEBIES. SIBILARLI, IN ADJUSTIIIG FOii DISCOIITIIUITIES II THE !OIBTABY BASE, REQUIRED CLBARIIG BALAICES ABD ADJUSTBEITS TO COIIPBISATE FOB FLOAT ALSO All SUBTBACTED PROII THE ACTUAL SERIES. 2/ TOTAL RESERVES IIOT ADJUSTED POR OISCOITIIOIXIE~ COISISTS OP RESERVE BALAIIC£5 WITH l'EDBBAL BESE&VE BAlKS (»RICH ElCLODE liE~UIRED CLEARliiG BALAICBS AID ADJOST!ENTS TO C04PEISATE FOB FLOAT) PLUS fAULT CASH OSED TO SATISPY RESERVE REQUIBBBEITS. SUCH VAULT CA~H CONSISTS 07 ~LL VAULT CASH HELD DUBIIG TH~ LAGGED COIIPDTATIOI PERIOD Bf liSTlTUTlONS HAYIIG BEQUlBED BBSEBVE BALlMCES AT l'iDEBAL RESERVE BAlKS PLUS THE AftuUIT OF VAULr CASB EQUAL TO BEQUI&BD RESERVES DUBIIG THE IIAIITEIIAHCE PE&IOD AT IISTlTUTIOIS HAYIIG NO REQUIBED RESERVE BALANCES. l/ EXTENDED CREDIT COISISTS OF BORROWING AT THE DISCuUIT WIIIDOW OlDER THE TEBIIS AND COIIDITlOIS ESTABLISHED FOB THE EXTEIDED CREDIT PROGRAII TO HELP DEPOSITOR! IISTITUTIONS DIAL WITH SUSTlii&D LlQUIDITf PBESSUBBS. BECAUSE THEBE IS HOT THE SABB liED TO REPAY SUCH BORROWING l?liO!l?TLf AS THERE IS WITH XRADITIONAL SHOBT-TER! ADJOST!ENT CREDIT, THE 40HEY BABKET I!PACT OP BXTEIDED CREDIT IS SilllLAR TO THAT OF NOIIBORBOW~D RESEBVES. II/ RBSBBYE BALAICES WITH FEDERAL RESERVE BAIIKS PLUS VAULT CASH USED TO SATISFI RESERVE REQUIBBBEITS LBSS BE~UIBED RESERVES. 5/ THE BOIETABY BASE NOT ADJUSTED FOR DISCOITIIUITIES COISISTS OP TOTAL BBSEBVES PLUS BEQUIBED CLEABIIG BALAICES AID lDJUSTBEITS TO COBPBIISATE POB FLOAT AT FEDERAL RESEBYE BANKS PLUS THE CUR&BICl C04POIEIT OF THE •oiEY STOC~ LESS THE ABOUIT 07 VAULT CASH HOLDINGS OF THRIFT IISTITUTIOIS THAT IS IICLUDED IN THE CURBEICY CORPOBEIT OF THE l!OIBY STOCK-RLUS, POR IISTITUTIOIIS lOT H&IIIG BEQUlBKD BESB&VE BALAICES, THE EXCESS UF CUiiWKHT VAULT CASH OVER THE ABOOIT APPLIED TO SATISPI CUBREir RESERVE REQUIBERBITS. APTER XBE IIT&ODUCTIOI OF CBR, CURBEICi AND VAULT CASH FIGURES ABE BEASUBBD OVER THE BOIDAY-EIIDIIG CO!PUTATION PERIOD. PRIOR TO CRR, ALL COBROIEITS OP THE BOHETAR! oASE OTHER THAll EXCESS RESERVES ARB SEASOIALLY ADJUSTED AS A WHOLE, RATHER THAI Bl COBPOIERT, liD EXCESS RESERVES lS ADDED 011 A lOT SEASONALLY ADJUSTED BASIS. AFTER CRB, ~~ SEASOIALLY ADJUSTED SERIES COISISTS OP SEASOIALLI ADJUSTED TOTAL RESERVES (WHICH IICLUDES EXCESS BBSERVES OR A IIOT SEASOHALLI ADJUSTED BASIS) PLUS THE SEASOIALLI ADJUSTED CUBREICY COIIPOHtRT OP THE IIOIEY STOCK PLUS THE REBAIIlNG ITEIIS SEASONALLI ADJUSTBD AS A WHOLE. BOTE: HISTORICAL DATA ARB AVAILABLE PaOli THE BANKIIG SECTIOI, DIVISION OF &!SEARCH AID STATISTICS, BOARD OP GOVERNORS OF THE FEDERAL RESERVE SISTEII, iASBlJGTOI, D.C. 2U551 H.3 (502) Table 2 AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND THE MONETARY BASE Noi'adjusted for changes in reserve requirements,1 Averages of daiiy figures, not seasonally adjusted Millions of dollars Monetary base' Date total nonborrowed required 1986-!IAR. A.PR. IIAY JUNE JULY AUG. SEPT. OCT. IIOV. DEC. 111,214 48,882 118,1119 119,938 51,029 51,277 53,189 54,623 56,399 59,560 116,513 47,989 47,5113 49,135 50,.288 50,1105 5.2,180 53,182 55,647 58,133 4o,J7jj IIS,081 117,581 '19,007 50, 118 50,538 5..!,463 53,871 55,421 Sd, 191 .221, 696 224,866 22&,115 229,675 232,546 233,315 235,067 237,.257 241,267 247,707 27,114 28,892 28,279 29,1199 .30,313 30,165 31,922 32,947 34,803 37,360 22,677 22,231 22,1174 22,8011 23,098 23,1151 23,3811 23,153 23,543 24,071 . .!0,160 19,990 .!0,140 20,1139 .20,71o .21,11.2 21,267 .21,671> 21,595 22,199 1987--JAII.. FEB. !lAB. .PE 59,668 57,060 57,063 59,088 5o,503 so,536 511,600 55,8119 51>,140 246,752 244,.220 21jlj,977 31>,584 33,625 35,3.20 25,0 .. 9 25,88!1 23,6o9 ..!3,081j 23, ...35 21, ]ljlj 56,98.2 56,850 so,516 56,323 5o,021 55,865 2 ..... 3911 21j4, 9JII 35,1j00 311,812 23,oo2 211,077 .21,582 ..!.2,038 57,711 57,070 57,U03 21j6,110 36,358 22,730 21,35.3 TIIO IIBBKS BIIDIIIG -----1987--IIAB. APR. 11 25 p 8 .PE 65 1,377 P-- .PBBJ.IIIJ:IIA&Y .PE--PRELI!IIIIA&I ESTX!IATE. 1/ REFLECTS ACTUAL RESERVE IIEQUXREIIEHTS, IHCLUDIIIG THOSE 011 IIOHDBPOSXT LIABILITIES, IIITB 10 AOJUST!IEITS TO ELX!IXHATE TBE EFFECTS OF DXSCOHTIHUITIES ASSOCIATED IIITII ~li~LE!IEHTATIOII OP THE !IOIIETARY COIITROL ACT OR OT~EII REGULATORY CHARGES TO RESERVE REQUIRE!IEIITS. 2/ COIISISTS OP TOTAL RESERVES PLUS REQUIH~O CLEARIRG BALAHC~S AIID ADJUSTftEHXS TO CO!IPEIISATK POB PLOA~ AT FEDERAL RESERVE BARKS .PLUS THE CURRERCY COftPOIBIT OF THE BOlEY STOCK LESS THE AftOUHT OF VAULT CASH HOLDIIGS OF TIIRIFT IIISTITUTIOIS TBAT IS IRCLUDBD II THE CUKBEHCY COft~OIEIT uP THE ftOIBY STOCK ~LOS, POR IHSTITUXIOMS HOT HAVIIG REUUI~ED k£SEBVB BALAIICES, THE BICBSS Ol' CUBBBIIT VAULT CASH OVER TH.t: AliOUMX AP~LIEO TO SATISI'I CUBBEIIT RESERVE REQUXREIIBII'rS. Al"TER '£11.8 XHTROOUCTIOII OJ' CHR, CUHREIICI AIID VAULT CASH FIGURES AaE ftEASURED OV.BB THE KOIIDAI-BIDIBG CQ!IPUTATIOII PERIOD. 3/ E4CLUDBS REQUIRED CLEARIBG BALAIICES AND ADJUST!IEITS TO CO!I.PEISATE f'OR FLOAT. 4/ DATES lEPER TO THE liAIHTEMAIICE ~ERIODS Ill WHICH THE VAULT CASH CAl BE USED TO SATISPI RESERVE IIEQUIBEftEIITS. UHOER COITEft.POaAIEOUS RESERVE REQUIRBftEMTS, ftAIIITEIAHCE .PERIODS EHD 30 DAIS APTER THE LAGGED COftl'UTATlOI ~EHXODS XII WHICH THE BALAIICES ABE HKJ.O. 5/ EQUAL TO ALL VAULT CASH HELD DURING THE LAGGED COft.PUTATIOII PERIOD BI IISTITUTIONS HAVXHG BEUUIRED RESERVE BALANCES AT FEDERAL RESERVE dAIIKS .PLUS THE A!IOUIT Of' VAULT CASH E~UAL TO REQUIRED RESERVES DURIIG THE ftAXITBIAICE PERIOD AT IIISTITUTIOIIS HAVIIIG HO REQUIRED BESEBYE BALANCBS. 6/ TOTAL VAULT CASH AT IIISTITUTXONS HAVING HO REQUIRED RESERVE BALAMCES LESS THE AftOUIIT Of' VAULT CASH EQUAL TO THEIR REQUIRED RESERVES DURIIIG THE ftAIHTBNANCE .PERIOD. 1/ COIISXSTS OP CARRIOVKB OIILI AT DE.POSITO~J XIISTITUTIOIS IIAIIITAIIIIIG RESERVES ON THE BASIS OP TIO-BEEK ftAIHTEIIANCB PBBIODS. REFLECTS EXCESS (+) OB DEFICIT (-) RESERVES EL~GIBLE TO BE CARRIED FORWARD INTO THE TID-lEEK RESERVE !IAXIITEIIAIICE RERIOD EIDXIIG OB THE DATE SHOIIH. 147 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 ,338 47,943 47,712 49,198 50,319 5u,622 51 ,546 52,341 54,107 57,165 45,578 47,051 46,63b li6,395 49,578 49,749 50,538 51,500 5J,J55 56,338 li5,4q2 47,1li2 li6,874 48,2b7 169,409 49,8B2 so, 8"' 1 51,595 53,129 !>5, 79b 58,249 55,595 55,568 57,669 55,038 55,041 51. 182 54,383 54,645 242,806 240,258 241,318 p 55,457 55,361 54,992 54,833 54,496 54,375 240,701 241,277 PE 56,256 55,615 55,547 242,550 19 «)6--llAB. IH) APB. MAY JOME JULY AUG. SEPT. OCT. NOV. J>EC. 1967--JAN. FEB. l'IAR. PE 218,97d 1.22,128 223,605 221,031 230,019 .l.J0,755 2J1,51i. 2JJ,040 ..:!36,914 243,041 ' TWO WEEKS taWING -------------1 11 ~S7--l!AB. 2~ APR. d P---PRELIHUARl PB--PBBLIHINARY ESTIMATE. 1/ FIGURES REFLECT ADJUS~KENTS FOR DISCONTIHUI~l~S ASSOCIAT.ED WITH THE IMPLEMENTATION OF THB AND OTHER 8EGOLATOBr CHANG~ TO RESERVE REQUIREMENTS. MOIB~AMY COITROL ACT
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