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FEDERAL RESERVE statistical release — \t H.3<502) Table 1 For Release at 4:30 Eastern Time APRIL 18, 1985 AQQREQATE RESERVES OF DEPOSITORY INSTITUTIONS AND THE MONETARY BASE Adjusted for changes in reserve requirements' Averages of daily figures, seasonally adjusted unless noted otherwise Millions of dollars I 1984—MAR. APR. MAY JUNE JULY AUG. SEPT. OCT. MOV. DEC. Reserves of depository institutions nonborrowed 1 nonborrowed plus required extended credit* total1 Date I excess NSA4 Borrowings of depository institutions from the Federal Reserve>, NSA total 1 seasonal 1 extended credit8 Monetary bate* 37,099 37,110 37,U50 38,290 38,239 38,386 38,143 37,758 38,113 38,709 36,148 35,876 34,462 34,989 32,315 30,369 30,902 31,741 33,495 35,523 36,175 35,921 34,499 36,862 37,323 37,412 37,360 36,798 37,332 38,127 36,388 36,619 36,870 37,516 37,626 37,697 37,515 37,138 37,419 37,857 711 492 580 774 613 689 628 620 693 853 189,902 190,587 191,689 193,984 194,617 195,783 196,253 196#185 197,427 198,736 952 1,234 2,988 3,300 5,924 8,017 7,242 6,017 4,617 3,186 133 139 196 264 308 346 319 299 212 113 27 44 37 1,873 5,008 7,043 6,459 5,057 3,837 2,604 39,713 40,366 40,560 38,318 39,077 38,967 39,368 39,881 40,026 38,968 39,463 39,800 745 903 759 200,067 202,104 203,096 1,395 1,289 1,593 62 71 88 1,050 803 1,059 27 P 40,555 40,648 38,691 39,359 39,915 40,197 39,773 39,839 782 809 203,270 202,739 1,865 1,289 69 98 1,224 839 10 PE 40,267 38,492 39,787 39,754 513 203,782 1#775 121 1,295 *SE PE—PRELIMINARY ESTIHATE INCORPORATE ADJUSTMENTS FOR DISCONTINUITIES ASSOCIATED 1ITH THE IBP1EHBNTATION CF THE | 1985—JAN. FEB. MAR. PE TIO WEEKS ENDING 1985-flAR. APR. 13 1 p 1/ PRELIMINARY 2S22IS5 ™Lfl0I,ETARY 2/ TOTAL EESEFVES HOT ADJUSTED FOE DISCONTINUITIES CONSISTS OF RBSEHVE BALANCES BITH FEDERAL RESERVE BARKS IHHIfH F i r n i n . REQUIRED CLEARING BALANCES AND ADJUSTHENTS TO COBPENSATE FOR FLOATJ PLUS VAULT CASH USED TO S U I S F t S M U T B ^ a L n f u F H S B FIGURES 2H ?.™LI,CS52.COI,S1STS °F " L 3/ 5/ ^ I T U ^ / H S VAULT CASH HBLD VOSI^A^MI^^U.'SS^ ° 0 B I H G THE " G G E 0 COBPDTAIIO. PERIOD BY INSTITUTIONS HVlll llwilll BESWt " " ' " " " W " *° BEQ °" ED » ESER " S ™™ »H,'i;:iNTGENAE2cEBpE?R^D8;T,! 5 S | E 2 I « 5 t i J " o ? S " ™ F E D " * L BESE8VE BANKS PLUS VAULT CASB USED TO SATISFY RESERVE BEflOIBEBENTS LESS REQUIRED RESERVES xno nuntiBBi DASE "OT^USTED^OR MUI ADJUSTED FOR DISCONTINUITIES CONSISTS iwn i n ' THE BONETARY BASE »^0«I»KIW S » « T 2 ^ OF - ! «TOTAL H : . !RESERVES H ! » ! P -PLOS » « « REOOIRED CLEARINr BllIlirPQ ^WlMn^U^M^^^^SSSlfUm r r l P f n i T T E H f 0 R F L 0 A T A T F E ° E R A L * E S E f i V E B A N K S P L U S T H E C0RRENCT COMPONENT OF THE SOSEJ STOCK LESS 5 S E ASOONT S F U/A0LT CASH IF1 IMST1TUTI0NS T 2L^oS «*T IS INCLUDED IN THE CURRENCT COHPONENT OF THE HONEY STOCK PLUS, F 2 " I S S ? S E T I O I S NOT RAVING ! 5 2 « P S 2 . E f S M ? E B A L A N C E S - T H E E X C E S S Of CURRENT VAULT CASH OVER THE AIIOUNT A P P L I E H O SATISFY CUPRENTRESE^ AFTER THE INTRODUCTION OF CRR, CURRENCY AND VAULT CASH FIGURES ARE MEASURED OVER THE HONDAY-ENDING C S J P S ^ T J O S P F X n J ^ L n S C F R ' ALL C 0 B P 0 N E N ™ 0 E THE HONETARY BASE OTHER THAN EXCESS RESERVES ARE SEASON COHPUTATION EASONALLI ADJUSTED AS A WHOLE,PERIOD, RATHER THAN ADJUSTED SERIES DJUSTED BASIS) PLUS THE A WHOLE, GOVERNORS CF THE H.3 (502) Table 2 AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND THE MONETARY BASE Not adjusted for changes in reserve requirements1 Averages of daily figures, not seasonally adjusted Millions of dollars Vault cash 4 Reserves of depository institutions Monetary base2' Date nonborrowed Reserve balances with F.R. Banks3 used to satisfy required reserves5 required surplus* Net carryover of excess or deficit in reserve balances7 j:jjjH]j::pj?j:j:! lilllb 1984—MAR. APR. HAY JUNE JULY AUG. SEPT. OCT. NOV. DEC. 36,280 37,156 36,522 37,526 37,471 37,264 38,043 38,512 39,235 40,696 35,329 35,922 33,533 34,225 31,547 29,247 -30,801 32,495 34,618 37,509 35,569 36,664 35,942 36,752 36,858 36,575 37,415 37,892 38,542 39,843 187,815 190,344 191,084 193,971 195,516 195,677 196,229 196,688 198,771 202,586 19,486 20,353 19,562 20,217 19,891 19,270 20,143 20,099 20,843 21,738 20,396 20,152 20,446 20,770 21,134 21,688 21,232 21,875 21,827 22,316 16,794 16,802 16,960 17,308 17,579 17,995 17,900 18,413 18,392 18,958 3,602 3,349 3,486 3,461 3,555 3,694 3,333 3,462 3,434 3,358 1985—JAN. FEB. MAR. PE 41,125 40,273 40,487 39,730 38,984 38,894 40,380 39,370 39,728 201,353 199,937 201,374 21,577 20,416 22,063 23,044 23,927 21,863 19,547 19,857 18,425 3,497 4,070 3,439 "••••J!::::"::::::::!'' iHiiiiiiiiOnijiiipL I::::::::::::::::::::::::: Niiii plijiillj illiln-IJiplnllfhll TWO WEEKS ENDING 1985—MAR. APR. 13 27 P 40,500 40,284 38,636 38,995 39,719 39,476 201,218 200,852 22,407 21,458 21,518 22,353 18,093 18,826 3,425 3,527 10 PE 41,156 39,381 40,643 203,709 23,059 21,274 18,097 3 , 177 P PRELIMINARY PE—PRELIMINARY ESTIMATE. 1/ REFLECTS ACTUAL RESERVE REQUIREMENTS, INCLUDING THOSE ON NONDEPOSIT LIABILITIES, WITH NO ADJUSTMENTS 10 ELIMINATE THE EFFECTS OF DISCONTINUITIES ASSOCIATED KITH IMPLEMENTATION OF THE MONETARY CONTHOL ACT OR OTHBB BBGULATOBY 2/ CHANGES TO BESERVE REQUIREMENTS. CONSISTS OF TOTAL RESERVES PLUS REQUIRED CLEARING BALANCES AND ADJUSTMENTS TO COMPKMSATE FOR FLOAT AT FEDERAL BESERVE BANKS PLUS THE CURRENCY COMPONENT OF THE MONEY STOCK LESS THE AMOnMT OF VAULT CASH HOLDINGS OF THRIFT INSTITUTIONS THAT IS INCLUDED IN THE CURRENCY COMPONENT OF THE HONEY STOCK PLUS, FOR INSTITUTIONS MOT HAVING REQUIRED RESERVE BALANCES. THE EXCESS OF CURRENT VAULT CASH OVER THE AMOUNT APPLIED TO SATISFY CURRENT RESERVE REQUIREMENTS. AFTER THE INTRODUCTION OF 3/ CRR, CURRENCY AND VAULT CASH FIGURES ARE MEASURED OVER THE MONDAY-ENDING COMPUTATION PERIOD. 4/ EXCLUDES REQUIRED CLEARING BALANCES AND ADJUSTMENTS TO COMPENSATE FOB FLCAT. DATES REFER TO THE MAINTENANCE PERIODS IN MHICH THE VAULT CASH CAN BE USED TO SATISFY RESERVE REQUIREMENTS. UNDER CONTEMPORANEOUS RESERVE REQUIREMENTS, MAINTENANCE PERIODS END 30 DAYS AFTER THE LAGGED COMPUTATION PERIODS 5/ IN WHICH THE BALANCES ARE HELD. EQUAL TO ALL VAULT CASH HELD DURING THE LAGGED COMPUTATION PERIOD BY INSTITUTIONS HAVING REQUIRED RESERVE BALANCES AT FEDERAL RESERVE bANKS PLUS THE AMOUNT OF VAULT CASH EQUAL TO REQUIRED BESERVES DURING THE MAINTENANCE PERIOD AT 6/ INSTITUTIONS HAVING NO REQUIRED RESEfaVE BALANCES. 7/ TOTAL VAULT CASH AT INSTITUTIONS HAVING NO REQUIRED RESERVE BALANCES LESS THE AMOUNT OF VAULT CASH EQUAL TO THEIR REQUIRED RESERVES DURING THF MAINTENANCE PERIOD. CONSISTS OF CAKRYOVfci, ONLY AT DEPOSITORY INSTITUTIONS MAINTAINING RESERVES CN THE BASIS OF TWO-WEKK MAINTENANCE PERIODS. REFLECTS EXCESS (•) OR DEFICIT (-) RESERVES ELIGIBLE TO BE CARRIED FORWARD INTO THE TWO-WEEK RESERVE MAINTENANCE PERIOD ENDING ON THE DATE SHOWN. 168 H.3 (502) Table 3 AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND THE MONETARY BASE Adjusted for changes in reserve requirements1 Averages of daily figures, not seasonally adjusted Millions of dollars Date total 1984—MAB. APB. HAY JUNE JULY AUG. SEPT, OCT. NOV. DEC. 36,616 37,478 36,771 37,801 37,854 37,698 37,881 37,953 38,687 40,129 1985—JAN. FEE. HAB. PE 40,703 39,878 40,060 TWO kEEKS ENDING ———————«^—— 1985—HAB. 13 27 P APB. P 10 PE Reserves of depository institutions I nonborrowed 35,664 36,244 33,783 34,500 31,929 29,681 30,640 31,936 34,070 36,943 I Monetary base required 35,905 36,986 36,191 37,027 37,240 37,008 37,253 37,332 37,994 39,277 188,150 190,666 191,333 194,246 195,899 196,111 196,067 196,129 198,224 202,020 39,308 38,589 38,467 39,958 38,975 39,300 200,931 199,542 200,946 40,077 39,845 38,212 38,556 39,295 39,036 200,794 200,413 40,757 38,982 40,243 203,310 | I PBELIHINABY PE—PBELIHUIABY ESTIMATE. 1/ FIGUBES BEFLECT ADJUSTMENTS FOB DISCONTINUITIES ASSOCIATED IIITH THE IHPLEflBMTATIOM OF THE flOMETABI CONTBOL ACT AND OTHEB REGULATORY CHANGES TO BESEfiVE REQUIREMENTS*
@FedFRASER