The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
······aroo.=iis;·..• - -
·.f'AII
FEDERAL
RESERVE statistical release
:i
--------------------;;.....;;~_;;;....;;....;;;...,;;;;.;;.,;;;__;;;___________ :.:i.
i:/ ... ..........
... ..
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.
,~I~
l:t·
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J[lc. •
~
H.3 (11011
Tellle1
APiliJ.
AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND THE MONETARY BASE
In-......,.._...,
A_...,.. eMily,......._...., ldiUited
Adju8ted lor cMngle
of
Mllllona of dDIIw8
Date
uniMI noted OlllerwiM
toter
56,852
57,9511
58,352
57,706
57,602
57,876
57,825
58,ll96
57,987
57,436
1987-B&L
&PL
Ill!
JUIB
JUJ.I
AUG.
SBl'T.
ocr.
JOY.
DBC.
7. 1988
.....,_ of clepoeltoty lnet"utlone
NqUINCI
noubonowecl
-lbclrrowM plua
extended cNCIIt'
56,325
56,961
57,317
56,930
5&,929
57,229
5&,885
37,553
57,362
56,&58
--
Monetary
baa'
NSA•
llonowlnga of ~ltory inethutlona
from the Federal ......,. NSA
tot81
extended eNd""
-·
5&,589
37,l31
57,604
57,203
57,1211
57,360
57.,2911
58,003
57,756
57,11l2
55,936
57,127
57,273
56,516
56,8111
56,844
57,032
57,3&8
57,0611
S&,ll07
91&
821
1,079
1,190
761
1,032
793
1,129
923
1,029
:.t44,n9
21t6,52b
248,2.H
248,481
2119,511
250,997
252,2Sl
2511,561l
256,023
256,681l
993
1,035
71&
61l
6117
9110
9U
6l5
171
189
1.-!6
93
1,295
1,133
923
260,245
261,259
262,4b.l
1,082
39&
1, 752
59
75
119
J72
205
1,478
3l1
91
120
196
259
283
l79
231
264
270
288
273
19ll
132
1109
4119
39t
IJ8l
58,316
58.,U9
58,612
S7,231J
58,01J3
56,860
57.,&0&
58,21l8
58,338
57,021
57,306
57,&89
9
58,139
58,719
57,602
56.,795
57,857
58,1180
57,173
57.,802
96&
917
260,5..!4
262,6Jil
537
1,9lll
111
123
255
1.,685
6 PB
58,956
56,139
58,633
58,072
8811
2611,340
..!,811
U2
2,494
1988--JAI.
us.
liAR. PB
riO IB.B~S
BIDJ:IG
----1988-IIAL
APL
23 p
P---PRBJ.IBliARf
PE--PREJ.IftiiABI BSTiftATE
1/ BBSBRYBS liD BOIETARI BASE IIGURBS IICOBPOBlTG ADJUSTBEITS POl DISCOITINUITIES ASSOCilTBD WITH THB IBPJ.BftBITlTIOI OF TKB
BOIBTABf COITBOL ACT liD OTHBB RBGULATOBI CHliGBS TO RBSBBJB BBUUIBBBEITS. TO ADJUST FOB DlSCOITliUITlBS DUB TO CBAIGES II
RBSBRYB BBQUIBBIIBITS OJ RBSBIYABLB IOIDBPOSIT J.llBILITIIS, THB SUB OF SUCH REQUIRED RISE8JBS lRB SUBTillCTBD FBOft THE ACTUAL
SBRIBS. SlBIJ.lRJ.I, II ADJUSTIIG FOR DISCOITIIUlTlBS II TBB BOIBrARI BlSB, REQUIRED CLBl8IIG BALAICBS AID lDJUSTftBITS TO
COBPBISATB FOR FLOAT ALSO lBE SUBTBlCTBD PROB THE lCTUlL SBBIBS.
2/ TOTAL RBSBRYBS lOT lDJUSTBD lOR DISCOITIIUITIES COISISTS OF llBSERJE BALANCES liTH IBDBRlL 8BSBBVB BAlKS (WHICH BICLUDB
RBQUIRBD CLBARIIG BlLAICBS liD lDJUSTftBITS TO COBPBISATB lOB FLOATI PLUS flDLT CASH USED TO SATISFI RESERYE RBQUIRBBBITS.
SUCH YlULT ClSB COISISTS OP lLL flULT CASH HBLD DURIIG THE LlGGBD COBPUTlTIOI PBRIOD Bl IISTITUTIOIS KlYIIG BBQUIRED RESERVE
BlJ.liCBS lT FEDERAL BESE8JE BAlKS PLUS {Hi Aauuii OF VAULT CASu EQU~L TO R!QUIR~D RESERVES DORING ~HE ftA!NT!NANCB PB~JOD AT
IISTITDTIOIS HlYZIG 10 BBQUIRBD RESERYB BALAIC~S.
3/ EITBIDED CREDIT COISISTS Of BORBOIING AT THE DISCOUIT lliDOW UIDBR THE TEBBS lND COBDITIOIS •sTlBLlSKED FOR THE EITEIDBD
CREDIT PROGRAB TO HBJ.P DEPOSITORY liSTlTOTIOIS DElL liTH SUSTliiED LIQUIDITI PRESSURES. BBClDS~ TH~R~ IS BOT THE SASE NEED TO
BBPll SUCH BORROIIIG PROBPTLI lS THEBE IS liTH TBlDITIOIAL SKORT-TEBB lDJUSTREIT CREDIT, THE BONBI ftABKET lftPlCT OF BITBNDED
CREDIT IS SIBILlR TO THAT OF NOIBOBROWED RESERVES.
4/ MBSBRJB BlLliCES liTH fEDBBAL RESEBYB BlBKS PLUS VAULT CASH USBD TO SlTISFI RESERVE REQUIBBBENTS LESS MEUUIRED RESEilfES.
5/ THE BOIBTlBf BlSB lOT ADJUSTED fOR DISCOITIIUITIBS COISISTS OF TOTAL RESEBYES PLUS RBQUIBBD CLElKIIG ·alLliCBS liD ADJUSTKBITS
TO COBPBISlTB 108 PLOlT lT FEDERAL BESERJB BAlKS PLUS THE CURBEICf COftPOIEIT OF THE BOlE! STOCK PLUS, FOB IISTITUTIOIS JOT
HAJIIG REQUIRED RBSEBJB BALliCES, THE EICBSS OF CURBEIT VAULT ClSH OYER THE lROUNT lPPL!ED TO SATISPI CURRENT RESERVE
RBQUIBBBEITS. liTER THB IJTBODUCTION OF CCB, CORREICY AID VAULT CASH FIGURES ARB REASURBD OVBB THE ftONDAt-EBDING
CORPDTlTIOI PERIOD. THE SElSOilJ.LI ADJUSTED ROIBTlRJ BlSE CONSISTS OF SEASONlLLI ADJUSTED TOTAL MESERVE (WHICH INCLUDES
BICBSS RBSERYBS 01 l JOT SElSOIALLY ADJUSTED ~ASIS) PLUS THE SEASOIALLI ADJUSTED CURRENCY COftPONENT OY TKB ROlEY STOCK
PLUS THE RBRliiiiG I~EftS SEASONALLY ADJUSTED AS A WHOLE.
NOTE: HISTORICAL DlTl 18~ AVAILABLE FROft THE ROBEl AND BKSERYBS PROJECTIONS S~CTIOH• DIVISION OF ftOHBTAKf AFfAIHS, BOARD OF
GOVERIORS OF THE FEDERAL BESBRVE SISTER, WASHINGTON, D.C. ~0551
H.3 (502)
Table 2
AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND THE MONETARY BASE
Not adjusted lor changes In reserve requirements
A-ages of daiiy ftgures, not seasonally adjusted
Millions of dollars
Monetary
Date
1987--IIAL
I.PL
Ill. I
JUIB
JUJ.l
&UG.
SBP'f.
OCT.
NOY.
DBC.
1988--J&L
f'BB.
1111. PB
base~
total
nonborrowed
required
57,061
59,393
58,339
58,7811
58,838
58,361
59,813
b1,106
61,205
62,123
56,534
58,400
57,303
58,008
58,166
57,711l
58,tn3
60,163
b0,580
61,31l6
5o,14c.
58,5oo
51,l60
57,594
58,078
S7,l.t9
59,020
59,971
lt0,282
b1,094
244,978
l49,l41
21l9,940
25..!, 539
2511,671
l54,Joo
255,691
256,076
2o1,1t74
2bo,161
62,640
60,047
60,061
61,558
59,650
58,309
61,345
58,914
59,139
59,573
60,088
59,036
58,164
60,~4
57,747
total
required
reserves 5 '
surplu•.
35,316
37,807
36,1666
36,309
36,110
l5,o16
J6,c.85
37,249
37,1l53
37,073
23,765
23,3166
23,6t11
24,31>9
24,613
24,6416
211,854
25,567
25,1lJ1
26,155
l1, 743
21,587
21,873
.U,1175
ll,128
ll,1165
23,1.l8
2.J,857
.U,1$l
lll,449
2,o:n
1,76l
1,808
1,893
1,885
1,899
1, 72.
1,730
1,1>79
1, 70b
265,789
262,598
264,031
37,1l85
34,:.!11
36,011
26,919
28,119
25,926
25,155
l!),8.Jb
lll,041l
1,7616
l,28J
1,88.2
58,607
59,172
262,450
.264,130
35,575
35,759
25,9t17
26,224
23,998
216,3l9
1,989
1,895
152
31
59,679
2b5,638
36,968
25,3.Jb
:.U,596
1,740
79
'110 IBBilS
BIDIIG
--------1988--III.L
I.PB.
9
l3 p
6 PB
P---PilBJ..UIUBI
PB--PRBJ.ZIIIIlBI BS'IIBI.TB.
1/ BIFLBCTS lCTO&L RISBIYB IBQUZBBBBITS, IICLUDII& TROS~ ON IONDBPOSIT LII.BILITIBS, liTH 10 ADJUSTII&ITS TO BLIIIIIATB
THE BFrBCTS or DZSCOITIIUITIIS I.SSOCII.TBD WITH IIIPLBBBITI.TIOI or THE IIOIETABI CONTROL I.CT OB OTHBB BEGULI.TOBI
CHI.IGBS TO BBSBBYE BBUUIBBBBITS.
2/ COISISTS OF TOTAL BISIBYBS PLUS RBQUIBID CLBABIIG BI.LAICIS I.ID I.DJUSTIIBITS TO COIIPBNSI.TB FOB FLOI.T AT FHDBBAL BESBRYB
BliKS PLUS TUB CUIIIICI COIPOIBIT or THB IIOIBI STOCK LBSS THE &BOUlT OF fi.ULT CI.SH HOLDIIGS OP THRIFT IISTITUTIOIS THI.T
IS IICLUDID II Til CUBBBICI COIIPOIBIT OP THE 1101&1 STOCK PLUS, lOR liSTITUTIOIS NOT RAYING BB~Ul&BD B&SBRfB BI.LAICBS, THB
BICBSS OP CUIBIIT YI.UJ.T CI.SB OYBB THB AIIOONT APPLIBD TO SATISFY CUBBEIT BESB&YB BEUOIBBIIBITS. &rT&R THE IITBODUCTIOI OP
CIB, CUBBBICI I.ID YI.ULT CASH riGUBBS I.RB IIBI.SUBBD OYBB TBB BOIDI.I-ENDIIG COIPUTATIOI PBBIOD.
l/ llCLUDIS BBQU1BBO CLB&BXIG BALANCES AID ADJUSTBBITS TO COBPBISATB lOR FLOAT.
4/ DlTBS BBPIR TO TBB BI.ZITBI&»CB PERIODS II RBICH THE YAOLT CASH Cll BE USED TO SI.TISFI RBSBIVB BBQUlfBIBITS. UNDBR
COITBBPORI.IBOUS IBSIIYB BBQUI.EIBITS, IIAIITBIAICE PBRIODS BID 30 DAIS APTER THE LI.GGED COBPUTI.TIOI PERIODS
II VIZCB TBI BlLliCBS ARB BBLD.
5/ BQUI.L TO ALL YI.ULT CASH HBLD DUBIIG THB LAGGBD CO!PUTATIOI P&IIOD BY INSTITUTIONS HAYING KBUUIRBD BBS~BVB BALANCES
lT PBDBBAL BBSEIYB BI.IKS PLUS THB AIIOUIT DP YAULT CASH EQUAL TO BEUUikED BBSEBYBS DURING THE BAIITEIAICB PERIOD AT
IISTXTUTlOIS BI.Yl.G 10 BBQUIBED BESEBYB BALlNCBS.
6/ TOTAL YI.ULT C&SB I.T INSTITUTIOIS HI.YIIG JO BB~UIBED KBSBBYE BI.LAICBS LESS THE AIIOUNT OF VAULT CASH EUUI.L TO THEil
BBQUIIBD BBSIBYBS DURING TBB llliNTBIAICB PERIOD.
11 COIISISTS OP CI.BRIOYIR ONLY AT DEPOSITORY INSTUUTlOIIS UliTUIIIIIG RESBRYES Oil THE BASIS Of 'rWO-II.t:EK IIUIITEUIICE
PBRIODS. RRPLBCTS EXCBSS (+) OB nEPICIT (-) BESBMVES ELIGIBLE TO BE CARRIED POBNARD INTO THE TWO-WEEK MESBRYE
III.IKTEII.ICB PEB.lOD BIDING ON Tt:t: DUE SHOIIN.
H.3 (502)
Table 3
AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND THE MONETARY BASE
Adjusted for changes In reserve requlrements 1
Averages of dally figures, not seasonally adjusted
Millions of dollars
Date
total
1987--B&B.
lPB.
lilY
JUNE
JULY
lUG.
SEPT.
OCT.
ROY.
DEC.
1988--Jll.
FEB.
Ill B. PE
Reserves of depoaltory Institutions
non borrowed
Monetary base
required
5b,068
58,372
57,299
57,625
57,743
57,390
57.496
58,037
58,093
58,965
55,5111
57,379
56,2611
56,8119
57,071
56,7163
56,556
57,094
57,468
58,188
57,5411
56,221
56,435
56,983
56,358
56,703
56,909
57,170
57,936
2111,92!>
lllb,Ob6
24&,832
249,28&
251,424
251,1120
251,bOJ
25J,287
25b,821
2&1,21 ..
60,110
57,646
57,796
59,089
51,250
5&,0114
58,875
56,513
56,873
261,4W2
258,193
259,990
57,232
57,816
56,695
55,892
56,2&6
56,900
258, 01~
260,189
58,394
55,511
57,510
261,791
~5,152
TWO WEEKS
BIDING
------------1988--ft&B.
9
23 p
lPB.
6 PB
P---PRELiftlHlBI
PB--PRELlBlNlRI ESTlftlTE.
1/ liGURES REFLECT lDJUSTBEITS FOR DISCONTiNUITIES ASSOCIATED WITH TUB lftPLEIIENTlTIOH OF THE MON~TAHI COMTROL ACT
liD OTHER REGULATORY CHANGES TO RESERVE REQUIBEBENTS.
@FedFRASER