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FEDERAL RESERVE' StaMfcal release" '••f^n^: f « 0 ^ ^ t& o* H.3 (502) For Immediate Release Table 1 APRIL 19, 1982 AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND MONETARY BASE Adjusted for changes in reserve requirements 1 Averages of daily figures Reserves oTdepository institutions total2 ! non borrowed Period required millions of dollars seasonal h/ adjusted billions of dollars Reserves of depository institutions non borrowed total2 required millions of dollars not seasonally adjusted Monetary base3 billions of dollars 39,237 39,410 39,627 39,619 39,727 39,810 40,312 40,118 40,150 40,527 38,238 38,073 37,399 37,582 38,048 38,390 38,855 38,937 39,487 39,891 38,957 39,241 39,370 39,281 39,387 39,518 39,898 39,840 39,805 40,208 159.6 160.8 161.4 161.7 162.5 162.9 163.7 163.8 164.3 165.8 38,622 39,273 39,310 39,053 39,636 39,479 40,087 40,219 40,332 41,263 37,622 37,935 37,083 37,016 37,957 38,060 38,630 39,038 39,669 40,626 38,342 39,104 39,053 38,715 39,296 39,187 39,673 39,941 39,987 40,943 157.8 159.9 160.8 161.2 163.3 163.2 163.3 163.8 165.6 168.9 P 41,277 40,927 41,089 39,759 39,137 39,534 40,8^9 40,623 40,733 167.4 167.9 168.5 42,696 40,735 40,533 41,178 38,946 38,978 42,278 40,432 40,177 168.5 166.1 166.5 P P 40,977 40,737 41,269 41,181 41,218 39,415 39,290 39,805 39,527 39,565 40,464 40,430 40,932 40,912 40,774 168.0 167.6 168.5 168.6 168.9 40,447 39,897 40,773 40,679 40,819 38,885 38,450 39,309 39,025 39,166 39,934 39,590 40,436 40,410 40,375 165.5 166.5 167.2 166.5 166.3 7 P 14 P 40,824 40,668 39,345 39,331 40,498 40,402 169.1 168.3 39,986 40,143 38,507 38,806 39,660 39,877 168.0 168.3 1981—MAR. APR. MAY JUNE JULY AUG. SEPT. OCT. NOV. DEC. 1982—JAN. FEB. MAR. WEEK Monetary base3 ENDING: 1982—MAR. 3 10 17 24 31 APR. p _ PRELIMINARY 1/ RESERVE AGGREGATES INCLUDE REQUIRED RESERVES OF MEMBER BANKS AND EDGE ACT CORPORATIONS AND OTHER DEPOSITORY INSTITUTIONS. DISCONTINUITIES ASSOCIATED WITH THE IMPLEMENTATION OP THE MONETARY CONTROL ACT, THE INCLUSION OF EDGE ACT CORPORATION RESERVES, AND OTHER CHANGES IN REGULATIOr D HAVE BEEN RFMOVED. BEGINNING WITH THE WEEK ENDED DECEMBER 23, 1981, RESERVES AGGREGATES HAVE BEEN REDUCED BY SHIFTS OF RESBRVABLE LIABILITIES TO INTERNATIONAL BANKING FACILITIES (IBFS). ON THE BASIS OF REPORTS OF LIABILITIES TRANSFERRED TO IBFS BY U.S. COMMERCIAL BANKS AND U.S. AGENCIES AND BRANCHES OF FOREIGN BANKS, IT IS ESTIMATED THAT REQUIRED RESERVES WERE LOWERED ON AVERAGE BY $10 TO $20 MILLION IN DECEMBER 1981 AND $40 TO $70 MILLION IN JANUARY 19822/ RESERVE BALANCES WITH FEDERAL RESERVE BANKS (WHICH EXCLUDE REQUIRED CLEARING BALANCES) PLUS VAULT CASH AT INSTITUTIONS WITH REQUIRED RESERVE BALANCES PLUS VAULT CASH EQUAL TO REQUIRED RESERVES AT OTHER INSTITUTIONS. 3/ 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. TREASURY, FEDERAL RESERVE BANKS, THE VAULTS OF DEPOSITORY INSTITUTIONS, AND SURPLUS VAULT CASH AT DEPOSITORY INSTITUTIONS. NOTE: HISTORICAL DATA ARE AVAILABLE FROM THE BANKING SECTION, DIVISION OF RESEARCH AND STATISTICS, BOARD OF GOVERNORS OF THE FEDERAL RESERVE 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 1981—MAB. APB. HAT JONE JOLI AUG. SEPTOCT. NOf. DEC. 39,725 40,333 40,516 40,442 41,007 41,023 40,591 40,711 40,948 41,924 38,726 38,995 38,288 38,405 39,328 39,604 39,134 39,531 40,285 41,287 39,445 40,164 40,258 40,104 40,667 40,731 40,177 40,433 40,604 41,604 159.5 161.6 162.6 163.3 165.4 165.4 163.9 164.3 166.3 169.7 1582—JAN. FEB. HAB. P 43,203 41,286 39,234 41,685 39,496 37,679 42,784 40,982 38,878 169.1 166.8 165.4 1982—HAB. 3 10 17 24 P 31 P 41,055 38,463 39,274 39,130 39,290 39,493 37,016 37,810 37,476 37,637 40,542 38,156 38,937 38,861 38,846 166.2 165.3 165.9 165.2 165.0 APB. 7 P 14 P 38,495 38,655 37,016 37,318 38,169 38,389 166.8 167.0 WEEK ENDING: 1/ 2/ 3/ BESEfifES OF DEPOSITOBT INSTITUTIONS SEBIES BEFLECT ACTUAL BESEBfE BEQUIBEHBNT PEBCENTAGES HITH NO ADJUST* HENTS TO ELIHINATE THE EFFECT OF CHANGES IN BEGULATION D, INCLUDING CHANGES ASSOCIATED NITH THE IHPLEHENTATION OF THE MONETARY CONTBOL ACT. INCLODES BEQUIBED BESEBfES OF HEHBEB BANKS AND EDGE ACT COBPOBATIONS AND, BEGINNING NOfENBBfi 13, 1980, OTHEB DEPOSITOBT INSTITUTIONS. UtfDEB THE TRANSITIONAL PHASE-IN PBOGBAH OF THE HONBTABT CONTBOL ACT OF 1980, THE NET CHANGES IN BEQOIBED BESEBfES OF DEPOSITOBT INSTITUTIONS HAfE .BEEN AS FOLLOWS: EFFECTIVE NOVEMBER 13, 1980, A BEDUCTION OF $2.8 BILLION; FEBRUARY 12, 1981, AN INCREASE OF $245 BILLION; HABCH 12, 1981, AN INCBEASE OF $75 BILLION; HAT 14, 1981, AN INCBEASE OF $245 BILLION; AUGUST 13, 1981, AN INCBEASE OF $245 BILLION; SEPTEMBER 3, 1981, A SEDUCTION OF $1.3 BILLION; NOVEMBER 19, 1981, AN INCBEASE OF $220 BILLION; JANUABT 14, 1982, A BEDUCTION OF $60 BILLION; FBBBUABT 11, 1982 AN INCBEASE OF $220 MILLION; AND HABCH 4, 1982, AN ESTIHATED BEDUCTION OF $2.0 BILLION. BEGINNING NITB THE MEEK ENDED DECBHBEB 23, 1981, BESEBfE AGGBBGATES HAVE BEEN BEDUCBD BT SHIFTS OF RESBBfABLB LIABILITIES TO INTERNATIONAL BANKING FACILITIES (IBFS). ON THE BASIS OF BEPOBTS OF LIABILITIES TBANSFEBBED TO IBFS BT U.S.. COMMERCIAL BANKS AND U.S. AGENCIES AND BBANCHBS OF FOREIGN BANKS, IT IS ESTIHATED TBAT BEQUIBED BESEBfES HEBE LOWERED ON AVERAGE BT $60 TO $90 BILLION IN DECEMBER 1981 AND $180 TO $230 IN JANOABT 1982, MOSTLY REFLECTING A BEDUCTION IN RESERVABLE EUBOCUBBENCT TRANSACTIONS. BESEBfE BALANCES NITB FEDERAL RESERVE BANKS (WHICH EXCLUDE BEQUIBED CLEABING BALANCES) PLOS fAOLT CASB AT INSTITUTIONS HITH BEQUIBED BESEBfE BALANCES PLUS fAULT CASB EQUAL TO BEQUIBED BCSEBfES AT OTHEB INSTITUTIONS. INCLUDES BESEBfE BALANCES AND BEQUIBED CLEABING BALANCES AT FEDEBAL BESEBfE BANKS IN THE CUBBENT WEEK PLUS fAULT CASH HELD TNO WEEKS EARLIER USED TO SATISFT BESEBfE BEQUIBEHENTS AT ALL DEPOSITOBT INSTITUTIONS PLUS CUBBBNCT OUTSIDE THE U.S. TBEASUBT, FEDEBAL BESEBfE BANKS, THE fAULTS OF DEPOSITOBT INSTITUTIONS, AND SUBPLUS FAULT CASH AT DEPOSITOBT INSTITUTIONS.
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