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FEDERAL RESERVE statistical release H.3 (502) For Immediate Release Table 1 AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND MONETARY BASE Adjusted for changes in reserve requirements 1 Averages of daily figures Reserves of depository institutions total 2 | nonborrowed 1 Period [ required millions of dollars seasonally/ adjusted Monetary base3 billions of dollars APRIL Reserves of depository institutions required tota|2 ~ 1 nonborrowed I millions of dollars not seasonally adjusted 4, 1983 Monetary base3 billions of dollars 1982—FEB, MAR. APR. HAY JUNE JULY AUG. SEPT, OCT. NOV, LEC. 38,262 38,356 38,433 38,504 38,575 38,523 38,804 39,566 39,875 40,458 40,891 36,472 36,801 36,865 37,387 37,370 37,832 38,289 38,632 39,398 39,837 40,257 37,958 37,994 38,160 38,145 38,266 38,210 38,492 39,182 39,471 40,056 40,391 164.8 165.3 166.4 167.7 168.6 169.1 170.2 171.8 172.9 174.0 175.2 38,052 37,799 38,330 38,189 38,069 38,434 38,512 39,353 39,997 40.679 41,572 36,262 36,244 36,762 37,071 36,864 37,743 37,996 38,420 39,519 40,058 40,938 37,748 37,437 38,057 37,830 37,761 38,120 38,199 38,969 39,592 40,277 41,072 162.9 163.3 165.6 167.1 168.2 170.0 170.4 171.4 172.9 175.1 178.4 1983—JAN. FEB. 40,955 40,462 40,425 39,880 40,408 40,037 177.1 177.6 42,253 40,229 41,723 39,647 41,706 39,804 177.3 175.4 2 9 16 23 40,904 40,081 40,489 40,442 40,521 39.711 39,621 39,967 40,488 39,773 39,880 40,148 177.3 176.6 177.2 178.3 41,337 39,742 40,465 40,121 40,954 39,372 39,597 39,646 40,921 39,434 39,856 39,827 175.0 175.4 175.9 175.3 2 9 16 P 23 P 30 P 40,811 40,367 40,528 41,024 40,951 40,101 39,741 39,634 40,383 40,055 40,292 39,899 40,127 40,704 40,503 178.5 178-5 178.9 179.7 180-0 40,292 39,548 40,031 40,511 40,536 39,582 38,922 39,137 39,870 39,640 39,773 39,080 39,630 40,191 40,088 175.2 176-9 177.2 177.2 177.0 WEEK E N D I N G : 1983—FEB- BAR. 1/ 2/ 3/ j RESERVE AGGREGATES INCLUDE REQUIRED RESERVES OF MEMBER BANKS AND EDGE ACT CORPORATIONS AND OTHER DEPOSITORY INSTITUTIONS. DISCONTINUITIES ASSOCIATED NITH THE IMPLEMENTATION OF THE MONETARY CONTROL ACT, THE INCLUSION OF EDGE ACT CORPORATION RESERVES, AND OTHER CHANGES IN REGULATION D HAVE BEEN REMOVED. BEGINNING WITH THE WEEK ENDED DECEMBER 23, 1981, RESERVES 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 U.S. AGENCIES AND BRANCHES OF FOREIGN BANKS, IT IS ESTIMATED THAT REQUIRED RESERVES HERE LOWERED ON AVERAGE BY $10 TO $20 MILLION IN DECEMBER 1981 AND $40 TO $70 MILLION IN JANUARY 1982. RESERVE BALANCES ilTH FEDERAL RESERVE BANKS (HHICH EXCLUDE REQUIRED CLEARING BALANCES) PLUS VAULT CASH AT INSTITUTIONS HITH REQUIRED RESERVE 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. TREASURY, FEDERAL RESERVE BANKS, THE VAULTS OF DEPOSITORY INSTITUTIONS, AND SURPLUS VAULT CASH AT DEPOSITORY INSTITUTIONS. NOTE- HISTORICAL DATA ABE 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 1982—FEB. MAR. APR. MAY JUNE JULY AUG. SEPT. OCT. NOV. DEC. 41,286 39,235 39,557 39,550 39,565 39,967 40,178 39,962 40,587 41,199 41,853 39,496 37,680 37,989 38,433 38,360 39,275 39,662 39,028 40,109 40,578 41,219 40,982 38,873 39,284 39,191 39,257 39,653 39,866 39,578 40,182 40,797 41,353 166.8 165.4 167.6 169.2 170.4 172.3 172.8 172.3 173.8 176.0 179.3 1983—JAN. FEB. 41,862 39,787 41,333 39,205 41,316 39,362 177.9 176.0 2 9 16 23 40,900 39,326 40,019 39,671 40,517 38,956 39,151 39,196 40,484 39,018 39,410 39,377 175.5 175.9 176.4 175.9 2 9 16 P 23 P 30 P 39,827 37,341 37,785 38,218 38,285 39,117 36,715 36,891 37,577 37,389 39,308 36,873 37,384 37,898 37,837 175.8 175.7 176.0 176.0 175.8 fcEEK E N D I N G ; 1983—FEB. MAR. 1/ 2/ 3/ RESERVES OF DEPOSITORY INSTITUTIONS SERIES REFLECT ACTUAL RESERVE REQUIREMENT PERCENTAGES WITH NO ADJUSTMENTS TO ELIMINATE THE EFFECT OF CHANGES IN REGULATION D, INCLUDING CHANGES ASSOCIATED WITH THE IMPLEMENTATION OF THE MONETARY CONTROL ACT. INCLUDES REQUIRED RESERVES OF MEMBER BANKS AND EDGE ACT CORPORATIONS AND, BEGINNING NOVEMBER 13, 1980, OTHER 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 FOLLOBS: EFFECTIVE NOVEMBER 13, 1980, A DEDUCTION 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; MARCH 4, 1982, AN ESTIMATED REDOCTION OF $2.0 BILLION; HAY 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 $100 MILLION; DECEMBER 23, 1982, AN ESTIMATED REDUCTION OF $800 MILLION; AND MARCH 3, 1983, AN ESTIMATED REDUCTION OF $2.1 BILLION. BEGINNING WITH THE BEEK 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. COHMBRCIAL BANKS AND AND AGENCIES AND BRANCHES OF FOREIGN BANKS, IT IS ESTIMATED THAT REQUIRED RESERVES BEBE LOWERED ON AVERAGE BY $60 TO $90 flILLION IN DECEMBER 1981 AND $180 TO $230 MILLION IN JANUARY 1982, MOSTLY REFLECTING A REDUCTION IN RESERVABLE EUROCURRENCY TRANSACTIONS. RESERVE BALANCES _ITH FEDERAL RESERVE BANKS (WHICH EXCLUDED REQUIRED CLEARING BALANCES) PLUS VAULT CASH AT INSTITUTIONS WITH REQUIRED RESERVE 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. TREASURY, FEDERAL RESERVE BANKS, THE VAULTS OF DEPOSITORY INSTITUTIONS, AND SURPLUS VAULT CASH AT DEPOSITCRY INSTITUTIONS.
@FedFRASER